Reconciliation of On Trac Shipping Invoice With Cointab
Reconciliation of On Trac Shipping Invoice With Cointab
OnTrac Invoice Verification Made Easy
Managing millions of daily OnTrac deliveries can be a challenge, especially when ensuring accurate fee verification. Manual processes are slow and prone to errors, potentially costing your US business money through overcharges.
Cointab: Your Solution for Effortless OnTrac Invoice Verification
Cointab’s automated software streamlines the entire process, saving you time and money. Here’s how:
Automated Reconciliation: Cointab seamlessly integrates with your existing data, automatically comparing:
- ERP Reports
- Shipping Invoices
- Pincode Masters
- SKU Reports
- Rate Cards
Discrepancy Detection:
Our software meticulously verifies OnTrac charges, identifying any inconsistencies to ensure you’re only paying the correct amount.
Effortless Integration:
Cointab integrates seamlessly with your existing systems, enabling effortless reconciliation for all mentioned reports.
Benefits of Cointab for OnTrac Invoice Verification:
Reduced Costs:
Recover potential financial losses due to OnTrac billing errors.
Improved Efficiency:
Free up your finance team’s time with automated invoice verification.
Enhanced Accuracy:
Eliminate errors and discrepancies with automated calculations and clear data visibility.
Streamlined Workflow:
Enjoy hassle-free fee verification for high-volume OnTrac deliveries.
Required Reports Explained:
This section (optional) can be included on a separate landing page to provide more detailed information about the reports involved. Briefly explain the purpose of each report (Pincode Zone, SKU, Rate Card, OnTrac Invoice) and its role in the verification process.
SKU Report
Weight Determination for OnTrac Invoice Verification:
Cointab (or your chosen method) ensures accurate weight consideration during OnTrac invoice verification by utilizing data from various sources:
ERP Reports:
The SKU number within your ERP system often reflects the product’s weight. Cointab prioritizes this data for weight determination.
OnTrac Invoice:
If the ERP report lacks weight information, Cointab extracts the weight directly from the corresponding field in the OnTrac invoice.
Volumetric Weight Calculation:
For products with specified dimensions (length, width, height) listed in the ERP report, Cointab calculates the volumetric weight using the formula: Length (cm) x Width (cm) x Height (cm). This volumetric weight is then used for fee calculations if applicable based on your OnTrac rate card.
Divisor Consideration:
The divisor, sometimes found on your rate card, is used to convert volumetric weight into a billable weight. Cointab utilizes the divisor provided in the rate card (typically 5,000 if not specified).
Data Consolidation:
After weight determination (actual or volumetric), Cointab integrates the value into both your ERP reports and the OnTrac invoice for comprehensive verification.
Final Weight Rounding:
Cointab employs a rounding function to establish the final weight tier for accurate fee assessment based on your OnTrac rate card.
Pincode master
Zonal Pricing Explained:
OnTrac utilizes a zonal pricing system to determine shipping costs on your invoices. This system assigns specific zones (identified by letters like a, b, c) based on the origin (departure) and destination (delivery) locations for each shipment.
Benefits of Understanding Zones:
Understanding OnTrac’s zonal system during invoice verification empowers you to:
Verify Zone Accuracy:
Ensure the zone applied on your invoice aligns with the actual origin and destination points.
Predict Shipping Costs:
Gain insights into potential shipping costs for future deliveries based on zones.
Identify Zone-Related Discrepancies:
Inconsistencies between the invoice zone and the actual origin-destination combination might indicate billing errors.
Cointab’s Role:
If you use Cointab for invoice verification, our software automatically retrieves zone information from your OnTrac invoices and verifies its accuracy against your shipment data, streamlining the process and flagging any potential zone-related discrepancies.
Rate card:
OnTrac rate cards are essential documents for verifying your invoices. These cards outline shipping fees based on two key factors:
Product Weight:
OnTrac typically charges higher fees for heavier shipments. Rate cards specify pricing tiers based on weight ranges (acceptable limits).
Delivery Zone:
OnTrac leverages a zonal pricing system. The rate card assigns specific rates based on the origin (departure) and destination (delivery) zones for each shipment (explained previously).
Verifying Rate Application:
During invoice verification, Cointab (or your chosen method) can compare the following details between the rate card and your OnTrac invoice:
Courier:
Ensures the correct courier service is applied (e.g., standard, express).
Zone:
Confirms the zone assigned on the invoice matches the actual origin and destination locations.
Weight Slab:
Verifies the weight tier used for calculating charges falls within the acceptable limits outlined in the rate card.
Divisor:
Checks if the divisor used for potential volumetric weight calculations aligns with the rate card specifications (typically 5,000 if not provided).
Delivery Date Validity:
It’s important to note that the rates listed on your OnTrac invoice might have a validity period. Ensure your delivery dates fall within the timeframe for which the listed rates are applicable.
Charges
Forward Charges:
Weight-Based Pricing:
OnTrac typically charges shipping fees based on a shipment’s weight.
Rate Card Reference:
Forward charges are determined by the weight tier (slab) of your shipment as specified in the OnTrac rate card.
Fixed vs. Additional Weight:
If the final weight falls within or below the “fwd_wt_fixed” limit on the rate card, a “fwd_fixed” charge applies based on the corresponding zone.
If the weight exceeds the “fwd_wt_fixed” limit, an “extra weight” fee is calculated using the “fwd_add” rate per zone for the exceeding weight.
Expected Forward Charge Formula:
Expected_fwd_chg = fwd_fixed + (extra_weight) x fwd_add
RTO (Return To Origin) Charges:
Applicable for Undelivered Packages:
RTO charges apply when a shipment cannot be delivered and is returned to the sender.
Weight-Based Calculation:
Similar to forward charges, RTO fees are determined by the weight tier (slab) of the returned shipment as per the rate card.
Fixed vs. Additional Weight:
If the weight falls within or below the “rto_wt_fixed” limit on the rate card, an “rto_fixed” charge applies based on the corresponding zone.
If the weight exceeds the “rto_wt_fixed” limit, an “extra weight” fee is calculated using the “rto_add” rate per zone for the exceeding weight.
Expected RTO Charge Formula:
Expected_rto_chg = rto_fixed + (extra_weight) x rto_add
Calculating Expected Invoice Amount:
The final amount on your OnTrac invoice typically combines the expected forward charges, RTO charges (if applicable), and any applicable tax percentage.
Navigating Financial Precision: Cointab Reconciliation Software Metrics
2M
1.6B
$37B
RESULT
Verifying OnTrac invoices involves a meticulous comparison of various data points. Here’s how Cointab (or your chosen method) accomplishes this:
Data Reconciliation:
Cointab (optional) seamlessly integrates with your existing systems and automatically reconciles data from:
ERP Reports (e.g., order details, weight, dimensions)
Pincode Master (zonal information)
Rate Card (shipping fees based on weight and zone)
Expected Fee Calculation:
Through this comprehensive data reconciliation, Cointab calculates the expected fees for your OnTrac shipments.
Invoice Verification:
Cointab then compares these expected fees with the charges listed on your actual OnTrac invoice. This comparison identifies any discrepancies and ensures you’re paying the correct amount.
ERP
During OnTrac invoice verification, ensuring matching order entries across your Enterprise Resource Planning (ERP) system and the invoice is critical. Here’s what it signifies:
Found in ERP:
Verification Efficiency:
When order entries appear in both your ERP reports and the OnTrac invoice, verification becomes more streamlined. Cointab (or your chosen method) can efficiently cross-check data for accuracy.
Not Found in ERP:
Verification Challenges:
Order entries missing from your ERP reports but present on the OnTrac invoice require further investigation. Cointab (optional) can flag these discrepancies for your review. Potential reasons might include:
Missing entries within the ERP system.
Data entry errors in either the ERP or invoice.
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Pincode Master
Found in Pincode master
Every delivery is made zone-wise and the accurate zone is present in the Pincode master, in order for the reports to be verified the order entries need to be present in the OnTrac invoice as well as the Pincode master and in this case it matches.
Not found in Pincode master
In this case, the order entries are present only in the OnTrac invoice and not found in the Pincode master and hence it can not be verified.
Rate Card
OnTrac invoice verification involves ensuring the services listed on the invoice align with your chosen options and pricing structure. Cointab (or your chosen method) plays a key role in this process:
Found in Rate Card:
Matching Services:
When order entries appear in both your OnTrac invoice and the rate card, it signifies that the chosen services are valid options offered by OnTrac. Cointab (optional) can verify this match for seamless processing.
Not Found in Rate Card:
Discrepancy Investigation:
Order entries missing from the rate card but present on the OnTrac invoice require further investigation. Cointab (optional) can flag these discrepancies for your review. Potential explanations include:
Custom Service Agreements:
Negotiated service options outside the standard rate card may not be reflected.
Invoice Data Errors:
In rare instances, the invoice might reference services not offered by OnTrac.
Benefits of Rate Card Verification:
Prevents Overcharges:
Identifies services potentially charged outside your agreed-upon rates.
Ensures Service Availability:
Confirms chosen services are valid options within OnTrac’s offerings.
Promotes Transparency:
Provides clarity on the services you’re paying for.
Fee verification using ERP- OnTrac
Cointab (or your chosen method) simplifies OnTrac invoice verification by analyzing various data points and identifying potential discrepancies. Here’s a breakdown of common verification outcomes:
Correct Charge:
Description: The weight, zone, and applied fee on the invoice perfectly align with the details in your ERP report and OnTrac’s rate card.
Potential Overcharges:
Zone & Weight Match – Overcharged:
This signifies a mismatch where the weight and zone are consistent between your ERP report and the invoice, but the charged fee exceeds the expected amount based on the rate card. Cointab flags this discrepancy for further investigation.
Zone Mismatch – Overcharged:
The zone on the invoice doesn’t match your ERP report, and the charged fee is higher than anticipated. This could be due to a zoning error or a custom service not reflected in the standard rate card.
Zone Match, Weight Mismatch – Overcharged:
While the zones match, the weight on the invoice differs from your ERP record, and the applied fee is higher than expected. This might indicate a data entry error or a weight discrepancy in OnTrac’s favor.
Zone Mismatch, Weight Mismatch – Overcharged:
All three data points (zone, weight, fee) on the invoice deviate from your ERP report and the rate card, potentially resulting in an overcharge by OnTrac.
Potential Undercharges:
Zone & Weight Match – Undercharged:
Although the zone and weight are consistent, the charged fee is lower than expected based on the rate card and ERP data. This could be a billing error by OnTrac.
Zone Mismatch – Undercharged:
A zone mismatch occurs, but the charged fee is lower than anticipated. This could be due to a billing error by OnTrac or a promotional rate not reflected in the standard rate card.
Zone Match, Weight Mismatch – Undercharged:
The zones align, but the weight on the invoice differs from your ERP record, and the applied fee is lower than expected. This could be a data entry error or a weight discrepancy in your favor.
Zone Mismatch, Weight Mismatch – Undercharged:
A discrepancy exists in all three data points (zone, weight, fee) compared to your ERP report and the rate card, potentially resulting in an undercharge by OnTrac.
Don't waste time on manual financial reconciliation. Let our Reconciliation software do the work for you.
Effortless OnTrac Invoice Verification & Cost Savings:
Don’t let manual invoice processing slow you down or cost your US business money. Cointab’s automated software streamlines the entire OnTrac invoice verification process, delivering:
Automated Reconciliation:
Eliminate manual data entry and error-prone calculations. Cointab seamlessly integrates with your existing systems for effortless reconciliation of ERP reports, shipping invoices, and rate cards.
Enhanced Accuracy:
Reduce the risk of human error with automated calculations and clear data visibility. Cointab flags discrepancies for your review, ensuring you pay only the correct amount.
Fast Dispute Resolution:
Identify potential OnTrac overcharges promptly. Cointab’s clear identification of inconsistencies allows you to raise disputes quickly and recover any financial losses.
Streamline Your Workflow & Boost Efficiency:
Cointab empowers US businesses to:
Free Up Valuable Time:
Automate invoice verification and focus your finance team on higher-level tasks.
Gain Clear Visibility:
Enjoy a comprehensive overview of all your OnTrac transactions for informed decision-making.
Reduce Costs:
Recover potential overcharges and optimize your OnTrac billing.
Start Saving Today:
Take control of your OnTrac invoice verification with Cointab