One of the considerable business struggles for anyone is following up on daily financial updates such as the total balance, the cash-out transfer, shipping fees, and return credits. With Bosta, You don’t have to worry about that anymore.
We have got you covered.
Say hello to our newest feature: the Wallet.
With the all-new Wallet, these problems are long gone. You now can track your daily cash flow, have complete financial visibility, and know your cash-out dates.
In this article, we will help you learn how the Wallet works in 6 important highlights:
The daily deposit of your completed orders
At the end of each working day, we check all your completed orders and calculate the cash collected for them and their shipping fees.
You can find this on your Cash Cycles page.
*Hint: A completed order means one that has reached its final state, whether it was a successful completion like “Delivered,” “Collected,” “Exchanged & Returned,” or “Returned” (for customer return pickup type) or even unsuccessful ones like “Returned to Origin.”
Your collected cash and shipping fees
You can find your total cash on a specific date. Check the breakdown to find out which cash was collected and which was refunded.
Hence, you can also view the amount subtracted from your total cash and the shipping fees you owe Bosta on the date chosen, and their breakdown.
Bear in mind that the shipping fees vary based on package size, order type, and drop-off city.
Fortunately, we enabled the export option for all the features above and for all orders’ full details.
Want to know which orders we have cashed out and which haven’t? Check the section highlighted below for any cash-out transfer details.
Your Wallet’s total balance and its breakdown
To view your Wallet’s balance, visit the Total Balance page and Follow this to calculate your Wallet’s balance:
Total Balance= total credit (in green) - total debit (in red)
The next cash-out date and how it is calculated
A cash-out transfer is the total revenue of orders delivered for a week before the date of transfer.
Hence, you can calculate the cash out only for orders that reached their final states, such as;
Delivered
Exchanged
Returned
Cash collected
Returned to origin.
Consequently, If the order didn’t reach any of the above states, it won’t be calculated in the cash-out.
For more clarification, get to know your cash-out transfer dates based on your volume.
Your Wallet transactions
1. Collected cash cycles
This transaction gets added to your Wallet at the end of every day to brief you on the delivered orders' collected cash.
2. Bosta Fees
This transaction is deducted from your Wallet's balance at the end of every day to brief you on the fees of your completed orders.
3. Cash-out
Once Bosta transfers your revenue to your bank account, the cash-out transaction is deducted from your Wallet’s balance. Click on "View Receipt" for more details about the cash-out breakdown.
4. Top-up
In order to keep your balance going, sometimes you will need to recharge it. Once you do, this transaction will get added to your Wallet’s balance.
5. Compensation
If you complained about any problem with one of your orders, once this is validated, you will be compensated for it. This transaction will be added to your Wallet’s balance once it is approved by Bosta. It will be transferred to you with the next cash-out.
6. Packing Material Fees
In Bosta, there is some free packing material and some with a cost. If you request paid packing material, you will be charged for it, and it will be deducted from the Wallet’s balance if you didn’t pay it to the courier when receiving it.
Your secured Wallet and OTP activation
We care about your security. Bosta's Wallet has an OTP encryption that only you and your authorized team members can access.
Still, confused?
Shoot us an email at help@bosta.co