Having distinct GL codes for each fee type gives you greater control and clarity over your financial reconciliation. By categorizing each fee separately, you can generate more accurate reports, monitor costs effectively, and pinpoint any discrepancies in fees charged by delivery partners

This guide will walk you through the list of all new Accounts you should create for each fee category to maintain visibility

Commissions: To track commission fees or marketplace delivery fees charged by 3P platforms, usually a fixed expense to a distinct GL code.

Marketing Spend: This is to  track expenses related to online ads, banners, and promotional content.

Tip: You may either track marketing expenses under a single Marketing Spend GL account or have 2 separate GL codes:

• Marketing Ad Spend: Track expenses related to online ads, banners, and promotional content, and 

• Marketing Promo Spend: for promotional discounts and offers to customers, such as "buy one, get one free" deals.

Customer Refunds: To track chargebacks and customer initiated refunds, debited from sales, due to order accuracy issues or canceled and/or missed orders 

Won Dispute: To track customer refunds that were disputed and won back

Miscellaneous: We suggest setting up a GL code for miscellaneous transactions categorized by DSPs. This helps in tracking any unexpected or unaccounted fees.

Unaccounted: This GL code will capture any variances between deduction amounts and the totals on DSP reports. These discrepancies may arise from unknown fees, such as rounding errors or unexplained charges.

Net Payout: This debit entry records your payouts from 3P platforms and should be mapped to the corresponding deposit in your bank account. 

Loop Over/Short - AR Adjustment: You can set up a specific GL code for "Loop Over/Short" which will be utilised for balancing your debit and credit. Typically used when the sales and/or payouts are not posted. Alternatively you can utilize delivery partner Sales account - Learn more details 

Once your GL codes are set up, you can share it with the Loop team or map them here and it will seamlessly automate the reconciliation of your third-party delivery transactions, ensuring everything is tracked and accounted for in the right categories.