Vendor Advance Transaction Add-on, developed by CedCommerce for Magento® 2 allows the admin to apply multiple charges on vendor orders apart from the commission and shipping fees.
Admin can set the total taxable fees known as Marketplace Fees, which includes Fixed Fee, Collection Fee, and Refund Fee. Apart from Marketplace fees, admin can deduct multiple fees from the vendor payable amount at the time of payment.
Vendor Advance Transaction works in two different payment modes:
- Postpaid Payment: Payment from the front-end user is credited to the vendor’s account.
- Prepaid Payment: Payment from the front-end user is credited to the admin’s account.
Key features are as follows:
- Admin can set up marketplace fees, which is adjusted from the total payable amount of the vendor.
- A proper invoice will be generated and sent to the vendor.
- There are no restrictions on the number of fees that are to be charged.
- The specified fee amount is applicable to all vendors.
- Fees are payable only for orders with the status-completed and completion of the payment cycle
- Service tax and other taxes are applicable on total fees
- Fees are chargeable either by percentage or a fixed amount.
- Admin can add multiple taxes, apart from service tax from admin configuration.
- Admin can select postpaid payments from all available payment methods.