Streamline Reconciliation of Meesho Marketplace with OMS
Streamline Reconciliation of Meesho Marketplace with OMS
Meesho, a popular online marketplace for women’s apparel and accessories, offers a vast audience for sellers. However, with this growth comes a significant challenge: verifying a high volume of orders and ensuring accurate payment settlements. Manually monitoring every transaction on Meesho can be resource-intensive and time-consuming, potentially leading to missed payments and financial losses.
Cointab: Your Automated Reconciliation Partner on Meesho
Cointab’s automated reconciliation system streamlines the Meesho Marketplace Reconciliation with OMS (Order Management System) process, eliminating the need for manual monitoring. Our all-in-one solution automates the entire reconciliation process for your Meesho sales, providing clear visibility into your transactions. Cointab’s reports highlight successfully paid orders and identify instances where you’ve received less than the expected amount, empowering you to take swift action and minimize potential financial losses.
Required Reports
Meesho All Order Report:
This report serves as a central hub, capturing details of all orders placed on the Meesho marketplace, regardless of their status (fulfilled, canceled, returned).
Meesho Sales Report:
This report focuses specifically on successful transactions. It details fulfilled orders, along with the corresponding customer payments received. Canceled and returned orders are also included here, providing valuable context.
Meesho Settlement Report:
This report dives into the financial aspects of your Meesho sales. It details the fees and taxes charged on each order, ultimately showing the final settlement amount you receive.
Meesho Returns Report:
This report manages the return process by capturing details on returned orders, associated payments, and the status of returned inventory.
Order Management System (OMS) Reports:
If you utilize an OMS platform like Increff, Unicommerce, or Shopify, you’ll also need reports generated by that system. These reports provide details on each order from your perspective, offering a holistic view of order management.
Meesho Marketplace Reconciliation with OMS Result
Meesho-OMS
Reconciling your Meesho sales with your Order Management System (OMS) can be a time-consuming task. However, Cointab’s automated solution simplifies the process and empowers you with actionable insights into your finances.
Cointab seamlessly compares your Meesho Sales Report and OMS Report, providing a clear picture of your transactions.
Found and Reconciled:
These orders represent a perfect match in both reports. Both the sale amount and details are identical, signifying accurate recording.
Discrepancies:
Cointab identifies discrepancies where the sale amount differs between reports:
Less Recorded in OMS:
The Meesho Sales Report shows a higher amount, potentially indicating missing fees or under-reporting in your OMS.
More Recorded in OMS:
The OMS Report shows a higher net sale amount, suggesting over-reporting in your OMS or missing sales recorded on Meesho.
Canceled Orders:
Cointab recognizes canceled Meesho orders which are not included in your OMS Report since no payment is expected.
OMS-Meesho
Backward reconciliation involves comparing your OMS report (representing your sales data) with the Meesho report (representing their payment data). This double-check verifies all orders and payments, guaranteeing accurate sales figures and identifying any discrepancies in the amounts you’re owed.
Found and Reconciled with Meesho:
These orders represent a perfect match in both reports. Both the sale amount and details are identical, signifying accurate recording and payment.
Less Amount Received from Meesho:
For these orders, the Meesho report shows a lower amount compared to your OMS. This indicates a potential shortfall – you might have received less than expected from Meesho.
More Amount Received from Meesho:
A pleasant surprise! These orders show a higher amount in the Meesho report than your OMS. This means Meesho has accidentally paid you a bit extra.
Not Found in Meesho:
These orders are present in your OMS report, but missing from Meesho’s records. This signifies Meesho won’t be paying for them, potentially due to cancellations or errors
Effortless Automation, Actionable Insights, Accurate Financials:
Cointab automates the entire reconciliation process, saving you time and resources. It’s clear reports highlight discrepancies, empowering you to recover lost revenue from Meesho and gain a complete understanding of your Meesho sales performance with accurate order and payment data.
Start reconciling with Cointab today!