Payments are a big deal in online retail. All ecommerce earnings are transferred over the internet. This means an adequate payment system must be in place. Proper documentation must be available for efficient performance and minimal accounting trouble. To ensure the same Paytm has introduced a new and improved payment file.
Changes to the payment file were announced on 11th August 2016, via email. The announcement said that sellers will receive a new improved order-wise file for payments made to them (that is the seller).
What are these new improvements you ask?
Paytm has included new additional information on the sheet. This is meant to provide detailed insights and a deeper understanding of online sellers on the platform. The new information available includes:
How will they help?
The above-mentioned additions have been introduced to assist online sellers with:
- More details on the payments received
- Easier reconciliation management
Do you feel these changes measure up to expectations? Let us know in the comments below.