Process description invoicing flow between Makers & Bemakers
Note for Settlement
Bemakers issue a note for settlement to the maker in the maker's local currency for each customer order generated on the platform. The note for settlement to the maker is issued at the same time that the invoice to the customer is issued, i.e. when the maker confirms the order placed on the platform. The amount (for products lines and the total) on the note for settlement to the maker are equivalent to that on the invoice to the customer, except that it is converted into the maker's local currency (i.e. DKK for Danish makers). VAT will be applied when and if applicable.
By the end of the month, Bemakers also issues a service invoice to the maker to cover the services provided by Bemakers (e.g. excise duties, shipping, recycling fees, commission, fulfillment, etc.). Together with the service invoice follows an "account statement," which summarizes the orders that have been paid by customers during the given month and that, therefore, will be paid out (settled) minus the service invoice amount. The net "Payout amount" (i.e. all incoming payments minus the service invoice) will be paid out around the 10th of the following month.
With this updated invoicing flow, makers can more easily ensure that their inventory is constantly up-to-date, as the note for settlement allows them to remove the products from their stock at the time of shipping. Also, by including the actual selling price (in the maker's currency) on the note for settlement, makers will have a detailed overview of which prices their products sell at via Bemakers. In the future, we plan to integrate with ERP systems so that the note for settlement automatically can trigger the generation of invoices in the makers' invoicing/ERP systems.
Where to find the documents
As before, the makers will receive the above-mentioned documents via email.