Effortless Firstcry Fee Verification with Cointab’s Automated Solution
Effortless Firstcry Fee Verification with Cointab’s Automated Solution
Firstcry, a prominent Indian e-commerce marketplace specializing in baby and child products, attracts a multitude of online retailers seeking a thriving sales platform. However, efficiently managing the high volume of daily transactions while ensuring efficient fee verification can become a significant obstacle for sellers.
Cointab’s automated reconciliation software addresses this challenge head-on, providing a comprehensive solution for Firstcry fee verification. Our system streamlines the process by automatically ingesting data from Firstcry reports, eliminating the need for time-consuming manual data entry and guaranteeing data integrity. Leveraging advanced data cleaning and extraction techniques, Cointab transforms raw data into a clear and concise summary of transactions, fees, and associated amounts. This user-friendly format empowers sellers with real-time insights, enabling them to swiftly identify any discrepancies and make data-driven decisions to optimize their Firstcry operations. By automating the Firstcry fee verification process, Cointab allows sellers to dedicate their resources to core business activities while ensuring they receive accurate compensation for their sales.
Reports Utilized for Reconciliation:
Firstcry Invoice Report: This report serves as the foundation, encompassing all transaction details for orders dispatched through the Firstcry marketplace.
Firstcry Debit Note: Capturing returned or canceled orders, this report provides a complete picture of your sales activity.
Firstcry Payment Report: This document details all payments settled by Firstcry for your sales, ensuring transparency in financial transactions
Fee Verification Process:
Cointab automates the entire fee verification process, eliminating the need for manual calculations and potential errors. The software seamlessly extracts relevant data from the aforementioned reports (Firstcry Invoice Report, Debit Note, and Payment Report). It then utilizes predefined rates and parameters associated with each item’s SKU master to calculate the applicable commission fees intelligently. Finally, Cointab compares the calculated fees with the fees charged by Firstcry for each order, identifying any discrepancies
Results:
The reconciliation process generates a user-friendly report that simplifies your financial analysis:
Correctly Charged Fee: This section displays the total number of orders and the corresponding accurate order total, confirming that fees were applied correctly.
Overcharged Fee: Orders and the total amount overcharged by Firstcry are identified here. This empowers you to take corrective actions and potentially recoup any excess fees.
Undercharged Fee: Cointab highlights orders where Firstcry undercharged commission fees.
Cointab’s software simplifies the entire Firstcry fee verification process for sellers. It automates data loading from various sources and even accepts custom inputs, eliminating manual data manipulation and streamlining reconciliation. This user-friendly approach empowers sellers to focus on core business activities while the software handles the heavy lifting. The result? An easy-to-understand report that facilitates in-depth analysis of reliable data. This data-driven approach ensures informed decision-making, minimizes risks, and paves the way for smooth business growth on the Firstcry marketplace.