Embedded Files
📢 [UPCOMING] Seller Portal Refresh, please refer to this FAQ for more information!
[Posted on 15 Oct 2021]
Dear Sellers,
We are pleased to announce that we will be releasing a revised version of the Seller Sales Breakdown Report that will take effect from Oct 2021 Cycle 1 Report onwards. These changes will make the sales breakdown report more intuitive and simpler to read.
The changes are as follows:
1) Removal of duplicated 'Sales GST' (column W in old report) . This prevents any confusion, the total amount sellers can expect to receive is simply the amount reflected in the 'Payable' (column V in new report).
2) Enhancement for non-GST sellers: The 'Sales' (column R in new report) now reflects the full retail selling price for non-GST sellers, and the commission will be charged based on that amount. Thus, sellers can expect to receive the payable calculated as per this formula: 'Sales' (column R in new report) x 'Comm %' (column S in new report).
3) For applicable sellers that are under the 'Digital Club' pilot program, the addition of the DC Promo (column P in new report) to account for promotion transactions done by Digital Club customers.
Sales Breakdown Report Sample Comparison
Sales Breakdown Report Sample Comparison
[Columns with changes are highlighted in the red box and explained below.]
Old Version - Applicable for sales recorded before 1 Oct 2021
New Version - Applicable for sales recorded after 1 Oct 2021
Old Version - Applicable for sales recorded before 1 Oct 2021
Column O to W explained:
O — Promotion cost borne by Sellers for item level discounts
P — Price before GST (L - O)
Q — Sales excluding GST (L / 1.07)
R — Sales GST (Q * 0.07)
S — Commission % Value
T — FairPrice Marketplace Commission Charges (Q * S)
U — Fairprice Marketplace Commission GST (T * 0.07)
V — Payable to Seller (Q – T– U)
W — Sales GST payable to GST registered Sellers (= R)
Notes:
FairPrice is a GST registered company so we are required by law to charge GST on commission.
For Non-GST registered sellers, Column W will show "0.00" for all fields.
Summary
GST Registered Sellers:
Total payment made to you is the sum of Column V & W (Payable & GST)
FP will issue you an invoice of Column T & U
(Commission & GST)Sellers are to invoice FairPrice based on Column Q & R
(Sales & GST)
NON-GST Registered Sellers:
Total payment made to you is the sum of Column V (Payable)
FP will issue you an invoice of Column T & U (Commission & GST)
Sellers are to invoice FP Column Q (Sales)
New Version - Applicable for sales recorded after 1 Oct 2021
Column O to W explained:
O — CWF Seller Portal created promotion cost borne by Sellers for item level discounts
P — DC Promotion cost borne by Sellers for Digital Club promotions
Q — Price before GST (L - O - P)
R — Sales excluding GST
(GST sellers: Q / 1.07 | Non-GST Sellers: Q)S — Commission % Value
T — FairPrice Marketplace Commission Charges (R * S)
U — Fairprice Marketplace Commission GST (T * 0.07)
V — Payable to Seller (Q – T– U)
Notes:
FairPrice is a GST registered company so we are required by law to charge GST on commission.
For Non-GST registered sellers, Column Q will be the same as Column R , since no GST is applied to the item.
Summary
GST Registered Sellers:
Total payment made to you is Column V (Payable)
FP will issue you an invoice of Column T & U
(Commission & GST)Sellers are to invoice FairPrice based on Column R
(Sales subject to GST)Sellers are to include GST in the invoice,
calculated as Column Q - R
NON-GST Registered Sellers:
Total payment made to you is the sum of Column V (Payable)
FP will issue you an invoice of Column T & U (Commission & GST)
Sellers are to invoice FairPrice based Column R (Sales)
Page updated
Google Sites
Report abuse