Streamline Reconciliation of Meesho Marketplace with ERP
Streamline Reconciliation of Meesho Marketplace with ERP
Meesho is a rapidly growing online shopping platform, especially popular for women’s clothing and accessories. It provides a marketplace where sellers can list their products to reach a broader audience. With its large customer base, many businesses are eager to sell on Meesho, knowing it can boost their product visibility and sales. However, managing the numerous transactions on Meesho can be challenging. Monitoring each order and payment can be difficult, and missed or pending payments could lead to losses.
This is where Cointab’s automated reconciliation system comes in. Our solution automates the Meesho Marketplace Reconciliation with ERP process, showing which orders have been paid correctly and highlighting any discrepancies in received payments.
Reports used for reconciliation
Meesho All Order Report:
This report serves as a comprehensive record of all customer orders placed through Meesho on your platform. It provides vital details for each order, including:
- Item details
- Quantities
- Pricing
Meesho Sales Report:
This report offers a comprehensive view of your order fulfillment status. It encompasses:
- Orders fulfilled
- Orders canceled or returned
- Invoice amount collected from customers
Meesho Settlement Report:
This report focuses on the final amount you receive from Meesho after accounting for:
- Fees
- Taxes
- Final settlement amount
Meesho Returns Report:
This report acts as a dedicated record for all returned orders. It provides details on:
- Returned products
- Returned payments
- Inventory adjustments
Client’s ERP System Reports (e.g., SAP, Tally):
If you utilize an Enterprise Resource Planning (ERP) system, you’ll also need to include relevant reports generated by your specific software. These reports typically contain detailed order information captured within your ERP system.
Results Are As Follows
Meesho-ERP reconciliation
This section explains how reconciliation software verifies the accuracy of your Meesho payments by comparing them to your internal records:
Matching Your Sales Data: The software seamlessly connects your Meesho reports (including the Meesho Sales Report) with the corresponding data from your ERP system (e.g., SAP, Tally). It then meticulously compares the net sales amount you earned according to Meesho with the net sales amount recorded in your ERP system.
Clear Reconciliation Results: The software presents the results in a user-friendly format, highlighting:
- Reconciled with ERP Ledger: These transactions represent a perfect match! The net sales amount in both your Meesho report and your ERP system aligns perfectly.
Discrepancies: The software identifies any mismatched amounts, allowing for further investigation:
- Less Amount Recorded in ERP: This indicates potential underreporting in your ERP system. The net sales amount in the Meesho Sales Report is higher than the amount recorded in your ERP.
- More Amounts Recorded in ERP: This could signify overreporting in your ERP system. The net sales amount in your ERP system exceeds the amount reflected in the Meesho Sales Report.
Missing in Meesho: These transactions are recorded in your ERP system but are absent from your Meesho reports. This might indicate missing sales data on Meesho’s end.
ERP- Meesho reconciliation
Streamline your Meesho reconciliation process and eliminate manual data entry with our advanced software. Our solution seamlessly integrates with your existing ERP system (e.g., SAP, Tally) and Meesho reports, ensuring you receive the correct net sales amount for every order. This automated approach guarantees data accuracy and reduces the risk of discrepancies, freeing you to focus on growing your business.
Automated Comparison: The software automatically matches your client’s ERP report with Meesho reports, including the Meesho Sales Report.
Net Sales Verification: We meticulously compare net sales figures from both sources to identify any underpayments or overpayments.
Clear Reconciliation View: Gain a clear picture of your reconciliation results:
Found and Reconciled: These transactions show a perfect match between your ERP and Meesho reports, ensuring accurate net sales records.
Discrepancies: The software identifies any mismatched amounts:
- Less Amount Recorded in Meesho: This indicates potential underpayments from Meesho.
- More Amounts Recorded in Meesho: This could signify overpayments from Meesho.
Missing in Meesho: These transactions exist in your ERP but are missing from Meesho reports, highlighting potential missing sales data from Meesho.
