LAAM’s Payment System

LAAM’s Payment System

Introduction

In this chapter, you will gain a comprehensive understanding of ledgers, their formation, and how to use them to track and analyze orders efficiently. This guide will enable you to handle financial queries confidently and address commonly raised concerns. Additionally, a dedicated FAQ section is included to further assist you in navigating financial matters with ease.

What are Ledgers?

A ledger is a systematic account that records all financial transactions. In the context of LAAM, ledgers consolidate multiple transaction entries into a comprehensive report, providing detailed insights into payments, refunds, and adjustments related to your sales activity.

What Information Do Ledgers Present?

Ledgers present the complete financial summary of your business activities, including:

  • Balance Payable: The total amount payable to you.
  • Transaction Details: Breakdown of each transaction at the item level.
  • Order Information: Includes order numbers, item IDs, item statuses, and item states.
  • Adjustments: Displays any financial adjustments related to refunds, Post Delivery Inspections (PDI), or vendor services.
  • Tax Deductions: Any applicable tax withholdings.
  • Vendor Adjustments: Service charges including advertisements, photoshoots, PR services, or advance payments.
  • Summary Overview: A consolidated view of sales, deductions, and net payables.

How Are Ledgers Formed?

Ledgers start forming as soon as an order is placed. Each transaction, from order creation to fulfillment, is recorded. Once the order has been processed and fulfilled, the finalized balance payable is reflected in the ledger.

LAAM Payment Cycle

Understanding the payment cycle is crucial for managing your cash flow effectively. LAAM divides each month into two financial periods:Payments for the 1st to 15th are processed by the 25th of the same month. Payments for the Second half will be cleared by 10th of next month.

Ledger Time Duration
Ledger publication date
Payment timeline
1st to 15th
17th of each month
Within 5 to 10 days after ledger publication
16th to 30th/31st
5th of each month
Within 5 to 10 days after ledger publication

How to Read a Ledger?

To access and interpret your ledger effectively, follow these steps:

image

Step 1: Navigate to the Order Management Tab

  • Log into the Seller App.
  • Access the ledger
  • Within the Seller App, navigate to the Ledgers section.
  • Here you will find your most recent ledgers along with their publication dates.

Step 3: Understanding Ledger Components

  • Item Adjustment: Reflects any item-level refunds or deductions made after Post Delivery Inspection (PDI).
  • Vendor Adjustment: Displays deductions related to services such as ads, shoots, PR, or advance payments.
  • Net Payable: Shows the final amount payable to you by LAAM. Amounts displayed in brackets (e.g., (9,000)) indicate a negative balance.
  • Transaction Summary: Includes product titles, order numbers, item IDs, item statuses, and item states.

Step 4: Exporting Ledger Data

  • You can export your ledger by clicking the Transaction button.

Visual Example of Ledger Details

  • The ledger displays multiple sections for clear visibility of your sales transactions.
  • Use the interactive buttons to access detailed views and specific adjustments.

Conclusion

This guide equips you with a detailed understanding of LAAM’s financial system, empowering you to manage and verify your payments seamlessly. By following the outlined steps, you can maintain full visibility over your sales, deductions, and final payments, ensuring complete financial transparency.

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