Reporting and Analytics For Credit Based Orders

This tutorial aims to provide an in-depth explanation of how the plugin handles orders and reporting within WooCommerce. It delves into the types of orders you’ll encounter, such as currency-based and credit-based orders, and how they are handled in the WooCommerce credit system.

The tutorial also highlights the necessity of entering a ‘nominal’ currency value for products to ensure they don’t become free items within WooCommerce.

Importantly, it guides you through the reporting options available, specifically dealing with currency and tax reporting. The tutorial aims to clarify the sometimes complex relationship between credit purchases, currency values, and tax obligations.

Part 1: Understanding Types of Orders in WooCommerce with FastCredit Pro

Before you can become a FastCredit Pro whiz, it’s essential to understand the types of orders you’ll encounter in WooCommerce.

Steps:

1. Navigate to your WooCommerce Orders list: Go to your WordPress dashboard, and click on WooCommerce > Orders.
2. Identify Types of Orders: You’ll notice two types of orders:
   • Currency-Based Orders: These orders say “via credit card or Stripe” when hovered over.
   • Credit-Based Orders: These indicate “via credits purchase” and display a credit value in a separate column.

Part 2: Decoding the “Nominee Value”

You might notice that even credit-based orders have a “cost” or “nominee value.” What’s that all about?

Steps:

1. Go Inside an Order: Click on any credit-based order to get detailed information. You’ll notice that it has a nominee value.
2. Understand the Purpose of Nominee Value: WooCommerce requires this value to avoid converting the product into a free one. It’s not a currency value but a placeholder to ensure WooCommerce doesn’t misinterpret the order.
3. Check the Product Settings: Go to the individual product and confirm that a regular price value exists to prevent the item from becoming a free product in WooCommerce.

Part 3: Order Visibility for Admins and Customers

Understanding what’s visible to you and your customers is crucial for transparent transactions.

Steps:

1. Admin Perspective: As an admin, you can see both the currency and credit values in the order details.
2. Customer Perspective: Navigate to an order as if you are acustomer. You will only see values in credits; the currency value remains invisible to you.

Part 4: Leveraging Reporting Features

You may want to dive into how reporting is handled, especially when dealing with credits and taxes. It’s easier than it looks, trust us!

Steps:

1. Navigate to FastCredit Pro Settings: Go to the settings panel for FastCredit Pro.
2. Enable Currency and Tax Reporting: If you need to see currency values and tax information, enable these options here.
3. Understand Reporting Logic: By default, FastCredit Pro doesn’t report credit orders as currency values to avoid double accounting.
4. Review Reports: After enabling the settings, go to WooCommerce > Reports to see tax and currency information as required.

Part 5: Understanding Tax Application on Credit-Based Orders

The way FastCredit Pro applies tax might be different than you expect.

Steps:

1. Enable Tax Reporting in FastCredit Pro: Make sure that tax reporting is enabled within FastCredit Pro settings.
2. Perform a Credit-Based Checkout: Add a product to the cart and proceed to checkout, paying via credits.
3. Review the Order: Go back to WooCommerce > Orders and check the most recent order. You’ll see that the tax is applied based on the nominee value if you enabled tax reporting.
4. Check Reports: Navigate to WooCommerce > Reports > Taxes to see the tax details for the most recent period.

Conclusion

By now, you should have a robust understanding of how FastCredit Pro integrates seamlessly with WooCommerce to manage orders and facilitate transparent reporting. However, the world of e-commerce is ever-changing, and questions are bound to arise. If you need further clarification or assistance, don’t hesitate to reach out to us. Your e-commerce success is our priority.