What do Benjamin Franklin and Walmart deductions have in common?
“An ounce of prevention is worth a pound of cure,” Benjamin Franklin once said, and the same holds true today – especially when dealing with Walmart deductions. Each year brands lose thousands of dollars through chargebacks and invoice deductions that are easily avoidable.
We know that the dreaded chargeback, or invoice deduction, is something you never want to see as a brand. Not only does it impact your profits, it’s difficult and headache-inducing to process the proper disputes to get your cash back where it belongs: with you.
Not to worry. We’re here to help! In addition to our CashBack services where we do the heavy lifting and account engagement, we’re putting together a few tips and tricks to avoid chargebacks.
- Review the PO for correct cost and allowances previous to filing
- Review the EDI data and PO data to ensure what is sent and/or received will reflect the terms in your supplier agreement
- Review for item configurations for allowance, unit, and weight information
- And last but certainly not least, prior to shipping work with your trading partner to ensure any PO discrepancies are resolved
Being aware of these charges and avoiding them is obviously the easiest way to minimize potential losses. However, should you need help recovering previous damages, we are here to help.
Interested in learning more about our CashBack services? Click here.