Reconciliation of sites payments is important. To help in doing so with your RevolutionParts site, there are a few items that need to be done to ensure Parts and Accounting Department are setup for success.
Parts Department Order Process
The parts department will need to review the order and check the availability of the parts.
- Not available
- Partially available - some parts can be shipped sooner than others (Split Shipment)
Available: Process order as normal
Not Available: Parts are not available due to any of the reasons below and more.
**The order can then be Cancelled and Refunded for transactions that reflect a Sale or Capture or Voided for transactions that were Authorized (AUTH).
- Lack of availability
- VIN restrictions
If there are no issues with the order and the Parts Department decides to ship, there are 2 items that need to be done prior to processing payment and fulfilling.
- Create an invoice within their DMS.
- Add that DMS invoice # to the corresponding RevolutionParts order.
IMPORTANT: The most important thing the part department can do is to ensure the DMS invoice number is always associated in the RevolutionParts order as this makes accounting’s reconciliation possible.
For payments that are Authorized (AUTH), you will need to Capture these payments.
**Note: funds guaranteed through the auth for 3 days from time of the order being placed.
Once payment is captured, the order can be fulfilled as normal and a shipment/ label created.
RevolutionParts has a DMS setting the will require the DMS invoice # before the order can be fulfilled. This setting can be found via:
- Order Settings
- Order Page Settings
- Check the box - Require DMS Invoice # for order fulfillment
Processing Returns/ Refunds and RMA
RMA (Return Material Authorization) - An arrangement in which the supplier of a good or product agrees to have a customer ship the item back to them in exchange for a refund or credit due to a product defect or malfunction.
At times, a return/refund is necessary, RevolutionParts supports a return/RMA process. To do so:
- Select the completed order
- Click the Create Return button in the upper right
- Add the DMS or RMA # to process a return
- Process Return/ Refund (How to process a Return/Refund)
**Note: Because the parts department added the DMS # in the RevolutionParts return, the accounting department will be able to track down the corresponding refund transaction.
- Close DMS Credit Memo
RevolutionParts Transaction Reconciliation Report
A Transaction Reconciliation report can be pulled within RevolutionParts. Listed under the Payment section, a daily, weekly or monthly (depending on organization requirements) report can be generated and exported. This report will tie the DMS invoice numbers to the processor transaction IDs.
The most relevant columns on the this report are highlighted and explained below (except Gateway):
- Gateway - the gateway may in some cases be relevant - for example, if you have PayPal and Authorize.NET you will have two different processor reports.
- Txn Id: This is the payment/processor transaction ID that should match the report from the payment processor (such as PayPal, Authorize.NET, Stripe, etc).
- Txn Type:
- CAPTURE = The charge was captured from an ‘Auth’ (money coming to the dealer).
- REFUND = refunded.
- Sale = The charge was automatically collected upon user checking out.
- Manual = The charge was manually entered as an “offline adjustment” on the order (money was collected externally from RevolutionParts.
Timestamp: This is the time the transaction was requested from the payment processor. Please note that this is necessarily the same as the settlement date within the processor (typically 1-3 dates after this time).
DMS Number: This is the DMS invoice number the parts department entered into the RevolutionParts order. This helps accounting tie the online payment transaction ID to the dealer’s DMS.
Txn Amount: This is the amount of money that was moved as a result of the transaction. This is a positive number for a charge, negative number for a refund.
Accounting Department Process
The accounting department is tasked to make sure every closed invoice (or credit memo) has the correct associated payment and/or cash transaction associated with in order to reconcile all accounts. In order to do that the accounting department should have the following information:
DMS Report: A DMS report with closed invoices (and credit memos).
Payment Processor Report: The payment processor report (most processors have a portal you log into to retrieve. Here are a few links you may find helpful related to popular processors/gateways:
RevolutionParts Transaction Reconciliation Report: (see above how to pull)
Bank Account Transaction Report: Bank transaction reports (the processor deposits funds and in some cases withdraws if there are more refunds than charges for a given day).
Once you have all these reports, load them all in Excel. Using VLOOKUP on the transaction ID in report #2, find the matching Txn ID column in report #3 and pull in the DMS invoice number. Now the Payment Processor Report will have the associated DMS invoice numbers. You can now compare the DMS Report and the Payment Processor Report (2-way VLOOKUP) on the DMS invoice number to find any exceptions. Finally, the Payment Processor Report and the Bank Account Transaction Report should tie out the cash balance.