Optimize Reconciliation Of JioMart Marketplace Using ERP
Optimize Reconciliation of Meesho Marketplace with ERP
Ecommerce offers immense growth potential for businesses. However, achieving sustainable growth requires meticulous reconciliation. This process ensures you track orders from placement to final payment, verifying that received payments align with your expectations. Without proper reconciliation, potential losses can go unnoticed, hindering your financial health.
Cointab: Effortlessly Streamlining Reconciliation
Cointab simplifies this crucial task, transforming it from a challenging endeavor into a breeze. Cointab acts as a bridge, automatically reconciling and verifying data between your JioMart reports and your Enterprise Resource Planning (ERP) system reports. This ensures accuracy within these reports. After reconciliation, Cointab presents the results in a user-friendly format, allowing you to easily review the outcome and identify any discrepancies within either report.
Essential Reports
JioMart Reports:
- Invoice Report: Provides a detailed breakdown of every placed order, including individual items.
- Service Invoice Report: Focuses on the financial aspects, detailing the payment and fee charges for each order dispatched.
- Disbursement Report: Summarizes the total sales value and fees, reflecting your final payout from Jiomart.
- Return Report: Tracks all orders marked as “returned” in your inventory, aiding in reconciliation and ensuring accurate payouts for undelivered items.
ERP (Enterprise Resource Planning) Reports:
These reports (from platforms like SAP or Tally) offer valuable data specific to your internal financial systems.The Result Is As Follows
Jiomart – ERP Reconciliation
Reconciliation bridges the gap between your internal financial data and Jiomart’s reports, guaranteeing accuracy in your financial records. Here’s a breakdown of how the system works:
- Data Verification: The system meticulously examines each data point stored within your ERP system.
- JioMart Invoice Matching: This verified ERP data is then matched against the corresponding Jiomart Invoice report for the same order.
- Order Categorization: Based on the comparison, orders are automatically categorized for your review:
- Matched Orders: These represent orders where the total values in both the ERP system and the Jiomart Invoice report align perfectly, signifying complete data accuracy.
- Potential Underpayment by Jiomart: This category highlights orders where the value recorded in your ERP system is lower than the amount listed in the Jiomart Invoice report. It’s crucial to investigate these discrepancies to ensure you receive the full and accurate payout from Jiomart.
- Potential Overpayment to Jiomart: Here, the ERP system reflects a higher total value compared to the Jiomart Invoice report. Investigate these discrepancies to identify potential errors in your ERP data or overcharges from Jiomart.
- Missing from JioMart Reports: This category flags orders that exist in your ERP system but are absent from the JioMart reports. These missing records warrant further investigation to ensure these orders are processed and paid for by Jiomart.
ERP- JioMart reconciliation
- Matched Orders: These represent orders where the totals in both the Jiomart report and your ERP system match perfectly. This signifies data accuracy and complete alignment.
- Potential Jiomart Underpayment: This category highlights orders where the amount recorded in the Jiomart report is lower than the amount in your ERP. Investigate these discrepancies to ensure you receive the full and accurate payout from Jiomart.
- Potential ERP Overpayment: Here, the Jiomart report reflects a lower amount compared to your ERP. Investigate these discrepancies to identify potential errors in your ERP data or overcharges recorded in your Jiomart reports.
- Missing from JioMart Reports: This category flags orders that exist in your ERP system but are absent from the JioMart reports. These missing records warrant further investigation to ensure these orders are processed and paid for by Jiomart.
Take control of your finances with Cointab
With Cointab’s automated ERP-Jiomart reconciliation, you gain confidence in the accuracy of your financial data. This empowers you to make informed business decisions, identify areas for improvement, and achieve sustainable growth.
Take a demo today!