Understanding Margins Calculation and Invoice Process
📝 Note: The following information serves as a guide and is not applicable to in-airport merchants. For any clarifications, please contact us through the Merchant Service Desk on the Okta SSO page.
Invoice will be issued on the 15th day of each calendar month to the Retailer for:
- the Margin for the previous calendar month; and
- the applicable GST chargeable on the Margin
Where can I view the invoice?
Go to the EPIC portal and log in with your credentials.💡 For password reset or update of Administrator, you may contact the helpdesk at Help_desk@ccn.com.sg
How is the Margin computed?
The Margin is computed based on the percentage of the Retailer’s total sales on the Portal in respect of products sold in accordance with the Retailer Agreement:
Margin = Aggregate of Commission Rate (%) x Sales, where Sales = (Gross Amount(a) – Tenant Discount Amount(b) – GST(c))*
*The following amounts can be viewed from the Sales Transaction Report:
(a) GrossAmount: Column [Q]
(b) TenantDiscountAmount: Column [W]
(c) GST: Column [AM]
Below is an illustration to compute the Sales to compute the Margin.
How do I pay for the Margin?
Margin is payable through Interbank Giro, which will be deducted directly from the Retailer’s designated finance bank account on 22nd day of the calendar month of the tax invoice.
If 22nd day falls on a weekend, it will be deducted on the next business day.
If Interbank Giro is unsuccessful, payment should be made via bank transfer to the bank details stated in the invoice by the due date. Any unpaid sum on the relevant due date is subject to interest at the rate stipulated by CAG.