I know where your money is: this is how online shops keep track of their finances

The calculation is simple: the more sales your online shop generates, the more numerous and also more confused the financial flows. It is all the more important to know what to look out for so that you always have an overview of all your demands.

The concept of classic trade is basically quite simple: goods (or services) for money. If customers order online, there is often the option of buying on account and thus postponing payment. Shop operators have to organize themselves particularly well in order to keep track of all outstanding claims at all times. Special cases such as discount campaigns, credits and cancellations add complexity – as does the growth of your shop. Because the more you sell, the more complex your financial flows become. So not only people know the well-known growth pain from their youth – but also your online shop.

But if you know what to look out for (and have the right tool at hand), your online shop will grow painlessly and without any problems. “ Cash , boom, bang” instead of “Crash, boom, bang”!

These things add complexity to e-commerce

  • The step into the international market 

Is your online shop established in your home country and it is time for the international market? Congratulations! The development of international markets holds a lot of potential – but also ensures a not inconsiderable complexity. Because not only are different currencies and other tax rates lurking here, but in some cases also completely different legal bases. So it pays to be particularly careful here so that your money arrives at you even if you sell abroad.

  • Different payment methods

A free choice of payment method is essential for a successful user experience and thus long-term customer loyalty. At the same time, the same applies here: the more payment methods you offer, the more complex the administration becomes for you. To keep an overview at all times, there are tools that can support you – you can read more about this below.

  • A lot of customers – a lot of data

Your online shop is going through the roof and thousands of new customers are buying from you? Hammer! You should pay attention to two things here: On the one hand, your shop system must be able to cope with the onslaught of customers on a technical level, and on the other hand, you should make sure that you treat your customers’ data with care. A CRM ( Customer Relationship Management ) system can help, organize your customers’ data and ensure that your accountants can do their job properly.

  • A lot of sales mean a lot of claims – and a lot of special cases

As the number of customers increases, so do your sales. That makes the cash register ring – but only if you really get the money. Special cases such as cancellations and returns make managing your financial flows even more complicated. So that you always have an overview when booking funds back and forth, you should deal with payment clearing.

And this is how you counteract these dangers: With payment clearing from nexnet

So growth makes business more complicated. Then the solution is to stop growing? Not at all, the solution is Payment Clearing from nexnet . With Payment Clearing, all money movements can be monitored and recorded at the individual transaction level.

These advantages are waiting for you:

  • With payment clearing from nexnet you will be informed about all financial flows, their due dates, completeness and correctness.
  • Payment Clearing is compatible with all common PSP (Payment Service Providern) or in German payment service providers such as Paypal, Amazon Pay, Apple Pay, Google Pay, Klarna and many more.
  • And you always have an eye on what your PSP is up to. Because they never transfer the entire amount of an end customer’s purchase, but instead keep their commission on the one hand, and a kind of “security deposit” on the other, in order to be able to set up provisions for cancellations etc. After a certain time, for example after the return period has expired, the PSP will pay you this amount back – but not for each customer individually, but in a collective transfer with all orders from the current period. Without payment clearing, it is difficult to understand for which order the PSP has already paid the security deposit and for which it has not – with payment clearing you always have an overview.
  • Payment clearing also works internationally! All money movements are recorded with current exchange rates and posted directly with the appropriate tax rates.
  • nexnet creates a testable monthly statement for you. All necessary data is transferred directly to your general ledger; All common general ledger solutions such as SAP or Datev are also supported here. This relieves your accountants and ensures that you never have to fear the next audit again.
  • With the use of payment clearing you save time and money, because your team has more capacity for the core business and can drive your online shop even further – without any growing pains!