In order to successfully launch a new company, one of the first tasks you must master is sales invoicing, and in particular, the many types of transactions. Choosing the most suited transaction for your organization will help you be paid on time and keep cash flow difficulties to an absolute minimum. When it comes to transactions that are frequently used, COD (cash on delivery) is an excellent example.
Study cash on delivery (COD), why it may be advantageous for your firm to offer COD, and the benefits and drawbacks of implementing this practice.
Related: How to Order Pick Up in Lazada Philippines?
What is Cash on Delivery?
It is the sale of items by mail order where payment is made at the time of delivery rather than in advance that is known as cash on delivery (sometimes called collect on delivery or cash on demand). If the products are not paid for, they will be returned to the store that sold them to the customer.
What is the procedure for cash on delivery? In some cases, buyers place an order online and request delivery of their purchases. The consumer does not make a payment at the time of ordering the goods and instead decides to pay cash on delivery as the form of payment. Following the placement of the order, the seller will generate an invoice, which will be attached to the package.
In the case of cash on delivery, the level of security can be maintained. You are under no obligation to provide the seller with any financial information, such as your debit card, credit card, or bank account information. This is one of the reasons why many clients select cash on delivery as their preferred method of payment.
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How Does Cash on Delivery Work for Sellers?
The customer pays the delivery person or shipper in cash or with a credit or debit card. It is then deposited into the bank account of the logistics partner or shipper who provided the COD. After deducting the handling fees, the logistics provider deposits the funds into the seller’s account.
COD (Cash on Delivery) is a method of collecting payment for items and/or shipping and fees when an item is delivered to the intended recipient. The sender is responsible for paying the postage and fees at the time of sending. Unless otherwise noted on the letter, the sender undertakes to cover the cost of any return postage.
Related: How Do You Fulfill Your Orders in Lazada?
How Do I Activate Lazada Cash on Delivery for Sellers?
Lazada Fresh and the ‘Delivered by Seller’ (DBS) Program now accept Cash On Delivery in order to better serve all of our customers — including those who do not have access to credit cards or electronic wallets — with this new payment option.
For additional information on the Delivered by Seller Program, please visit Lazada’s website.
Increase the number of customers who visit your store! There is no requirement for remittance because the payout is automatic. There is no first cash out: There is no security deposit necessary at the time of onboarding; the security deposit is only required once you have progressed through the platform.
All cash-on-delivery transactions will be subtracted from non-cash-on-delivery payments in the same manner. The money that is collected will be used for this purpose. Transactions will be subject to the commission system outlined above in detail.
A security deposit will be clawed back from non-COD payments made by DBS sellers whenever the seller achieves a specific gross merchandise value (GMV) level for its DBS COD orders. This is done to ensure that the sellers’ financial balance remains positive.
- Simply go to this linkhttp://bit.lay/DBSProcessing and select CASH-ON-DELIVERY as the payment method for your request.
- Select YES under the heading “Enable Cash on Delivery (COD)” and complete all of the other required details.
- Make sure you’ve gone over and accepted the Terms and Conditions, and that you’ve acknowledged your understanding by checking the box that says “| have read, understood, and agreed to the terms and conditions stated in the T&C.”
- Please wait for an email from us within 48 hours to confirm that your COD has been activated.
For Vendors that Operate Their Own Fleet or Delivery Service
Sellers have the ability to collect money directly from buyers. The amount collected will be removed from the following week’s compensation through an automatic deduction system.
For Merchants That Use Third-Party Logistics Services
Make a reservation for the service: Utilize the Pabili/Purchase or round trip services provided by the third-party logistics service of your choice (ieGrab, Lalamove, MrSpeedy, Transportify). Most of the time, they charge extra for cash handling, purchasing service, and round-trip transportation.
Delivery Guidelines on Shopee Delivery
- Call the consumers first to ensure that the buyer’s address is complete and accurate, as well as the delivery time and date. Especially if you need it delivered the same day or the next day.
- In order to avoid in-person interaction during delivery, a protocol should be established. Customers should be contacted to ensure that they have the exact amount and a pen for the proof of delivery.Call the customer a few minutes before arrival and ask them to leave the payment outside their door or fence before you arrive.
You make a delivery at their location. Take the payment to the cashier. If you want to be precise, count the number of times you say it. Drop off the parcel, together with any necessary change and proof of purchase. Delivery in order to obtain their signature Continue to wait for the customer to sign the proof of delivery and then ask them to leave it on their doorstep or at their gate.
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- Maintain a physical separation between you and the other person. Maintain a distance of at least 2 meters.
- Customers’ cash should be disinfected after it has been paid.
- Make certain that personnel fully wash or sanitize their hands and that they wear face masks.
Ginee Handles Inventory and Orders For Your COD
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