More Options for Payment of Vendor Commissions
It would be great to have more options for the payment of vendor commissions. Right now, we’re using “WooCommerce Product Vendors” and it is “one-size-fits-all” for the payment of vendor commissions. With this plugin, we have to enter a percentage of the retail price; and that percentage is paid to the vendor after each sale. However, this creates major problems because there could be significant additional third-party costs that WE have to pay out of the total costs for each order (and we have no way of knowing what the total costs or third-party costs will be until AFTER the transaction). For example, we sell fine art, and the costs to ship the art to Europe could be as much as the art itself. Meanwhile, we also have to pay banking fees (such as credit card fees, Escrow.com fees, PayPal fees, or wire transfer fees) on the total costs for each order (and NOT on the retail price of each order). So if the total costs (including shipping) are 2x the retail price; and if we have to pay 3.9% to PayPal on the total costs, then we are paying the equivalent of 7.8% on the retail price. Needless to say, this will result in huge losses for us. So the only way to ensure we’re not suffering these losses is to deduct a fixed fee of 4% from the total costs of every order (which will allow us to cover these banking fees). This will give us a net price, at which time we can pay the vendor a percentage of the net price. However, since “WooCommerce Product Vendors” doesn’t allow any flexibility with the payment of vendor commissions, we have no choice but to disable vendor commissions and process these vendor payments by hand, one-at-at-time, with a calculator, for each order.