The month-end close
Website, four stores and two outlets on one Magento. The controller closes against one payout report and a Xero ledger that already has the fees in it.
Refunds, reports & ERP
Month-end from one source, not three spreadsheets.
A fashion brand's finance controller closes the month against orders, refunds and payouts from the website, the stores and the outlets. With the Payments Suite a refund is a credit memo in Magento and nothing else, reports are VAT-ready, and payouts flow to Xero, SAP or NetSuite already matched to orders.
- Returned one itemPartial credit memo · −45.00 GBP
- Refunded to the original card
- Payout matched in Xero
Why it matters
What changes for the business.
Month-end in hours, not days
Payouts arrive already matched to orders, fees are broken out per transaction, and refunds are where the orders are. The reconciliation spreadsheet retires.
Refunds that cannot drift
A refund starts as a credit memo on the Magento order and goes to the gateway from there. There is no second system where a refund can be issued and forgotten.
Numbers finance trusts
Gross, fees and net per transaction and per payout, by store view and by day, VAT-ready, matching the orders Magento holds.
The ledger closes from one source
Payouts and fees post to Xero, SAP or NetSuite with the order references, so the accountant works from the same truth as the ecommerce team.
How it works
Step by step, from the first switch-on.
- 1
Refund from the credit memo
Create a full or partial credit memo from the invoice in the Magento admin, or from the Point of Sale. The suite sends the refund to the gateway and records it on the order.
- 2
Reports that reconcile
The suite dashboard and Magento reports show transactions, fees and payouts by store view and by day, including refunds and recovered checkouts.
- 3
Hand off to the ERP
Connect Xero, SAP or NetSuite once. Payouts and fees post with order references on a schedule, so nothing is keyed in twice.
- 4
Close the month
Finance matches bank payouts to the suite's payout report line by line, with fees already accounted for and VAT already broken out.
Ways merchants use it
Three places this earns its keep.
Multi-store brands, anyone with a finance team, and any merchant who has ever spent an afternoon matching a payout to orders by hand.
The refund query, answered in the corridor
A store manager asks about a partial refund from last week. It was a credit memo on the order, so it is in the report next to the sale, and the answer takes the length of the corridor.
Close of business
The month is closed by six. The payouts were already in Xero with fees and order references, so the external accountant had nothing to ask for, and the controller has an evening.
What you need
Before you switch it on.
- ebizmarts Payments Suite, current release
- Credit memo refunds enabled per payment method in the suite configuration
- An ERP connection to Xero, SAP or NetSuite, authorised once from the suite dashboard
- Store views mapped to the ledgers or tracking categories your accountant uses
Also in Payments Suite
Second chance on declinesA declined card gets a recovery path automatically, alongside your existing processor.B2B paymentsPay Now on invoices, deferred payment, quotes to cash and multi-currency for stores that sell to businesses.Multi-store, one ledgerOne install across every storefront, region and currency, with unified reconciliation.Opayo by ElavonEvery Opayo protocol, fraud controls per store view, deferred capture and PayPal, on the integration stores have run for a decade.Payments Suite for Hyvä CheckoutThe same suite, rebuilt for Hyvä Checkout: wallets, tokenised cards, 3DS2 and Recover Checkout, native to Hyvä.Apple Pay and Google PayOne-tap wallets in the checkout, on by default once enabled.All 11 Payments Suite featuresBack to the overview.
Questions
What merchants ask before they turn it on.
Can I do a partial refund?
Yes. A partial credit memo refunds the matching amount; the rest of the order stays captured.
Which ERPs are supported?
Xero, SAP and NetSuite hand-offs are available; ask the payments team about others.
Are fees shown per transaction?
Yes. Fees and net amounts appear per transaction and per payout in the reports.
Can a refund be issued outside Magento?
Refunds are issued from the credit memo so the order and the gateway always agree. Exceptional cases are handled with the payments team so the order is corrected at the same time.
How far back do the reports go?
To the first transaction on the account. Reports can be filtered by date, store view and payment type and exported.
Turn it on, or ask us first.
The payments team will tell you plainly what switching this on involves for your store, and what it costs.