Nykaa Fashion is a well-known online store with a wide selection of goods, including clothing, accessories, and footwear. Initially, Nykaa was mostly connected to beauty goods, but as time went on, it expanded to incorporate clothing and accessories, giving rise to Nykaa fashion. Since Nykaa has become one of the most visited buying websites, many manufacturers desire to offer their goods on the Nykaa fashion marketplace. As opposed to only selling through your own website, you get much more visibility by having your product available on the Nykaa fashion marketplace. Nykaa does, however, charge a set % fee on each transaction. Due to the high amount of transactions each day, it may be challenging for online vendors to balance the fees related with each sale. They might not have the funds or resources to complete this process alone because reconciliation is a time-consuming and laborious task. By using our automatic reconciliation system for the Nykaa Fee Verification Process you will be able to conduct this process a lot quicker and without any extra manual effort. You can just look at the results that our system generates, which will show you how much was charged in commission. It also displays the orders for which Nykaa Fashion undercharged or overcharged the fee.
Reports Used for Reconciliation
Nykaa Fashion Order Report (vin report)
In this report, all the order details of orders placed on the Nykaa fashion site are recorded.
Nykaa Fashion Payment Report
All the fee amounts to be charged by Nykaa fashion are available in this report.
Nykaa Fashion Fee Verification Result
Using the commission structure that Nykaa Fashion has provided, the system configures a rate card. The charges for these orders are subdivided based on the various product categories. This software utilises this rate card to determine how much in fees should be charged. The amount calculated by the software is then checked against the invoicing fee amount for comparison. The fee charged is then highlighted when it is higher or lower than what is required as per the business contract. In this manner, you are aware of the precise amount that was paid wrongly.
Found in Payment Report
These are the orders which are found in the payment report. It means that the fee on these orders can be verified.
Not found in Payment Report
On these orders, the fee amount cannot be verified as they are not recorded in the payment report.
Total Commission Fee Charged
The total amount of commission charged by Nykaa fashion is shown here.
Commission Fee- Correctly Charged
Shown here are the orders for which the fee charged by Nykaa fashion is the same as the fee amount calculated by the software
Commission Fee- Overcharged
The commission amount charged by Nykaa fashion on these orders exceeds the fee amount calculated by the software.
Commission Fee- Undercharged
On these orders, the commission fee charged by Nykaa fashion is lesser than the fee amount calculated.
Commission Fee Not Charged
These are the orders on which the fee is not charged by Nykaa fashion as yet.
The Nykaa Fashion Fee Verification Process is completely automated for you by our software. The software cleans the data and transforms it with the help of custom formulas to display results on a single dashboard to make it simple for you to analyze. The result helps you keep track of the fee amount charged by Nykaa fashion and the fee amount paid by you on each order. This aids in preventing you from paying more than the agreed-upon fee amount.