You – An eCommerce shop owner with a strong desire to receive more and more orders from customers who are likely to bring greater profit and return to the entity. Incomplete orders, however, dilutes the precise of completed order information, which is the input of your business balance sheet.
Almost all the Magento processing orders which appear “Pending” on your Magento site for a long time are cancelled!
So how do the apparently “Pending” Orders, which are actually canceled transactions, harm your Magento site?
Poorly impact on order reports from Magento backend
Each month, your finance department requires a report of order details from your Magento backend site for future financial planning. These reports are mixtures of complete, processing, canceled orders. Beside complete orders, which bring revenue to your company, and canceled orders, which are total
Badly affect the financial resource, harm your future investment for Magento site
According to ASB Bank, the pending orders (or processing transactions) may harm customer account as well as Magento shop owners’ financial analysis.
The processing Magento order statuses which are canceled by customers, still appear “Pending” on Magento backend. As a result, they are even considered as a receivable amount of money in the future. When your accountants work with these orders for obtaining financial information to get the prediction for the next investment of the company, these orders are still placed in account receivable and drive the balance sheet containing virtual figures.
This harms your next investment in buying new merchandises, upgrading products on your Magento site, etc.
Confuse your business mind
The faulty Magento order status brings about the annoyance for you when being forced to work with wrong order information. You need more effort to remind whether these Magento orders are processing or cancelled. It takes more time for you to reopen transaction emails, lists from other sources and finding how substantial these Magento order statuses are. Resultantly, your Magento order management shall be much more difficult.
Change Magento annoying order statuses into more friendly forms
Following are useful methods for you to achieve better management of order statuses:
- Change Magento order status programmatically
- Cancel the processing orders on Magento site by BSS Auto Cancel Order Extension
- Delete all the actual canceled orders which still appear “pending” on Magento backend. Deleting useless and wrongly precise Magento order statuses is also an effective way of getting rid of annoyingly displayed orders such as test orders.
- Delete pointless orders with BSS Delete Order Extension
Magento processing order statuses which are cancelled wrong lead information of input to your financial balance and hurt your future investment. On purpose of solving the problems, you should be wise, refer to the above suggestions and find out the best solution for your Magento site.