Detailed explanation of mutual settlement statement management and RMB settlement changes on the Ozon platform

The role of mutual settlement statements

The mutual settlement statement is an important financial document provided by the Ozon platform for sellers. It collects all mutual settlement information between the seller and Ozon within a quarter. Although this is not a legal requirement, accounting services often use it to avoid discrepancies in financial accounting. The statement covers all financial activities related to international logistics services, such as order delivery fees completed by couriers, etc.

Generation and viewing of statements

After the end of each quarter, Ozon will generate and send a mutual settlement statement to the seller before the 15th of the next month. Sellers can find these documents in the “Finance → Documents → Statements” section by logging into their personal center. It is worth noting that Ozon only provides quarterly statements and does not support generating statements on a monthly, semi-annual or annual basis.

Analysis of statement content

The mutual settlement statement details the mutual settlement information on Ozon, including but not limited to the date of document issuance, the name of the document or payment order, borrowing (the amount owed by the seller to Ozon) and loan (the amount owed by Ozon to the seller), etc. . In addition, there are two items, initial balance and ending balance, used to show the difference between borrowing and debiting, that is, the debt balance. The initial balance is equal to the ending balance of the previous period, while the ending balance is the sum of all financial operations for the quarter.

Perform settlement verification

After receiving the statement, the seller should complete the verification within 15 working days. During the verification process, you need to compare the data on the statement with your own records to confirm that the loan amount listed by Ozon is consistent with the loan amount recorded by the seller. If no problem is found, the statement will be accepted; if there is any objection, the statement should be rejected and reported to customer service.

Handling balance inconsistency issues

When balance discrepancies are found, it may be because Ozon failed to provide all settlement documents, the seller did not include all relevant documents in the calculation, the statement contained data for different time periods, or was created for multiple contracts or accounts. Due to reasons such as statement of account. At this time, the seller should refuse to receive the problematic statement and contact customer service in a timely manner to seek a solution. If the problem is caused by Ozon, it will be corrected in the next statement.

Best practice recommendations

• Regularly review statements to ensure all financial activities are accurate;
• Communicate with Ozon immediately if you discover any questions or disputes;
• Maintain detailed financial records for future reference;
• Complete the reconciliation process within the prescribed time frame to prevent passive acceptance of incorrect statements due to timeouts.

OZON announced to change the settlement currency to RMB

Recently, Russia’s well-known cross-border e-commerce platform OZON decided to change its settlement currency from the Russian ruble to the RMB. This move has not only aroused great concern inside and outside the industry, but may also have a significant impact on the entire cross-border e-commerce market and consumer shopping habits.

Change background analysis

OZON has been using the ruble as the settlement currency for a long time. However, in view of the fact that the Russian government has strengthened its supervision of the cross-border e-commerce field in recent years, especially the increasingly strict requirements on tax management, OZON chose to switch to RMB settlement to avoid the resulting tax issues and exchange rate fluctuation risks.

Market Impact Assessment

According to statistics, more than 60% of OZON’s products sold in Russia come from Chinese suppliers. Therefore, this currency change will greatly affect China’s cross-border e-commerce export business and may prompt other platforms to follow suit and adopt RMB as the settlement currency.

Consumer level considerations

Although the change in the settlement currency used by the cross-border e-commerce platform will not directly change the selling price of the goods, because the currency conversion involved in the actual transaction process is automatically completed by the payment system, this change may still lead to certain payment channels. Delays or obstacles, thereby affecting user payment experience. Therefore, consumers are advised to be more cautious when choosing payment service providers, preferring those companies with good reputations and rich experience.

The advantages of RMB are reflected

Using RMB for cross-border settlement has obvious advantages: on the one hand, it can effectively avoid the uncertainty caused by exchange rate fluctuations and improve transaction stability; on the other hand, it can also help reduce currency exchange costs and enhance the overall competitiveness of the platform.

Inspiration and Outlook

OZON’s adjustment provides valuable reference for Chinese cross-border e-commerce companies – they need to continuously explore settlement solutions suitable for their own development to cope with the challenges of the complex tax environment and exchange rate fluctuations. At the same time, improving brand image and product quality is still the basis for gaining the trust of international consumers. To sum up, in the face of increasingly fierce global competition, cross-border e-commerce platforms must continue to innovate and change in order to gain a foothold in the complex and ever-changing market environment and achieve long-term steady growth.