How does Cash on Delivery Remittance Work at Printrove?

How does Cash on Delivery Remittance Work?

Learn how the remittance (retail price) for your Cash on Delivery (COD) orders is transferred to your account. For better clarity, navigate to the Billing > Remittances Section on your panel.

Remittance Statuses

After your COD order is delivered to the customer, the flow of the remittance is as follows.

1. Created:

  1. Remittance Reports are generated every Monday, Wednesday, and Friday.
  2. A combined list of all your COD orders delivered in the last 24 hours is created.
  3. Each Remittance has a unique code and date, allowing you to filter by code or status.

2. Added to Credits:

  1. Once the remittance report is created, Printrove automatically adds the total amount to your Merchant Account as credits.
  2. This helps manage your cash flow and allows you to reinvest credits into your business.

3. Bank Remittance Requested:

  1. To transfer credits to your Bank Account, click on "Request Bank Remittance" under Actions.

  1. This feature is enabled 7 days after the remittance report is created.
  2. After confirming the request, the status updates to Bank Remittance Requested and the credits are deducted from your wallet.

4. Bank Remittance Initiated:

  1. After requesting a bank remittance, the Accounts Team acknowledges and initiates the transfer within 2 business days, provided you have the requested credits in your account.

5. Remittance Transferred to Bank:

  1. Within 2 days of initiating the transfer, your credits are transferred to the registered bank account.

Frequently Asked Questions (FAQs)

‚Äč1. What if you've used some of the credits and want the rest transferred?

Ensure you have at least the original remittance amount in your account. For example, if the remittance amount was 5000 INR and you've used 3000 INR, you need at least 5000 INR in your account to request a remittance.

2. I prefer direct transfer to my Bank Account instead of adding to credits.

You can request a Bank Remittance, and the amount will be added to your account within 2 to 4 business days.

3. What is the total timeline for the transfer to my Bank Account?

After the order is delivered and the remittance report is created, it takes up to 7 days for the "Request Bank Remittance" feature to be enabled. Once requested, it takes up to 4 days for the transfer to complete.
The total timeline from order delivery to bank transfer is 8 to 11 days.

We hope this guide helps you understand the remittance process for COD orders. Happy learning!

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