Getting paid
  • 04 Oct 2022
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Getting paid

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Once your catalog is in production, it's time to make sure you get paid! We'll walk you through these steps as we add your account, but here is a look at our process. We use JP Morgan Chase and need you to set up an account with them.

Getting paid with a managed marketplace

Set up

First, we need to identify an email address to use for both:

  • your settlements info
  • and to be your primary accounts receivable email address

We also need a cell phone number to use as the verification code for your JP Morgan Chase Account two-factor authentication for security. You'll provide the email address and phone number to contact the supplier onboarding team at suppliersupport@govaris.com.

Once we have this info, we’ll send you a link to register for your JP Morgan Chase account. Here you'll set up your ACH banking info, so we can deposit the funds you're owed. All of the steps to set up that account can be found in this document.


 

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Monthly milestones

Once everything is set up, and your catalog is available for buyers, we’ll follow these monthly milestones.

By the 15th of each month:
We’ll make a payment to your bank account for all transactions. The payment will include shipping charges collected unless there is a different agreement you made about revenue sharing in your contract.

By the 20th of each month: 
You’ll need to submit the revenue sharing amounts of the prior month’s purchases.

By the last day of the month:
We’ll audit payment receipts versus the summary report. If there are any disparities, we’ll work with you to correct them.

Getting paid with a private marketplace

Set up

Our supplier team will provide you with our banking info so that you can make monthly ACH deposits.

Monthly milestones

By the 10th of each month:
We need you to provide us an Excel summary report of all purchase orders (POs) by customer for the previous month.
The report needs to include:

  • total amount purchased
  • revenue share owed to Varis

By the 15th of each month:
We’ll audit the report for any disparities. If there are any, we’ll work with you to fix them by the 20th of the month.

By the 20th of each month: 
You’ll need to submit the revenue sharing amounts of the prior month’s purchases.

By the 25th of each month: 
We’ll audit the bank and payment receipts, and if there are any disparities, we’ll work with you to fix them.




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