Outsourcing services for Reconciliation
with E-commerce Marketplaces
Ecommerce Reconciliation
E-commerce has now become an integral part of our business. For the past two decades, customers have changed their way of shopping habits drastically. One of the biggest trends in the market is shopping online. From daily needed groceries to luxury home décor items, from birthday cake to heavy electronic items all are selling through online portal. More and more customers are attracting towards ecommerce portal for their shopping needs. iable, when it comes out on the basis of accurate recording of every business financial transaction.
By increasing customer base day by day towards e-commerce portal, attract business, whether it is small business, start-ups, medium or large organization to sell their product and services through these e-commerce marketplaces.
An online seller ships huge number of orders daily through these marketplaces. Out of these transactions 20% to 30% are returned transaction. Due to the volume, it is not possible for all business, to keep track of payments for all orders successfully delivered or returned. Sometimes, sellers are not in a situation to identify whether they have got their actual payments for the items sold or not.
Specially for small business and start-ups, who are not able to manage professional and experienced resource for making reconciliation with these marketplaces, situation in real becoming very harsh day by day. These businesses are fully depending on the data and information provided by e-commerce marketplaces, in absence of proper reconciliation resources. These can be the areas which required proper reconciliation with e-commerce marketplaces:
- E-commerce marketplaces, generally are the well-established companies, they know the limitation of seller registered with them very well, in terms of accounting and reconciliation of data provided by them.
- Payments made by E-commerce marketplaces against goods sold through their marketplaces by seller usually need thorough reconciliation, as seller gets the actual amount against the goods sold or not.
- Whether proper and actual return of items are only considered by the E-commerce marketplace or not, it should be reconciled. Returns not received by seller accounts, in real is the highest losses in the E-commerce business for seller. It hits double to seller, the first seller is penalized for return, and the second returned goods is also not delivered back to seller.
- Whether shipping charges, packing charges, commission charges, advertisement cost, e-marketing campaign running charges, storage & warehousing charges etc are charged properly or not, it should be reconciled.e or not, it should be reconciled. Returns not received by seller accounts, in real is the highest losses in the E-commerce business for seller. It hits double to seller, the first seller is penalized for return, and the second returned goods is also not delivered back to seller.
- Whether goods sold on cash on delivery basis and electronic payments basis have been considered completely, should be reconciled.
Data & information, provided by e-commerce marketplaces usually contains heavy transaction records and it is not easy to make a proper reconciliation from this by every business. We at Digi Accounto offers service for making reconciliation with e-commerce marketplaces through team of professional and experienced persons.
Our reconciliation work includes to prepared all the payments received from marketplaces in a clear and simple format
Our reconciliation work includes to prepared all the payments received from marketplaces in a clear and simple format
- To prepare all the payments received from marketplaces in a clear and simple format.
- Track all the payment with each order shipped by the seller
- Prepare list of all orders for which marketplace is yet to make payment
- Identify all the orders for which payment is not yet received even after the due date provided by the marketplace.
- Identify all the orders where are deductions made by marketplace, even in case of orders that are not returned.