Reconciliation of Shiprocket Courier COD Amount

Shiprocket is an aggregator of delivery services for companies in India. It provides a way for companies to choose between multiple aggregators without having to deal with them. It helps deliver products anywhere in the country at a reasonable rate. Plus, it processes bulk orders and also enables tracking of shipments so that you know where exactly your products are. Shiprocket is turning into the preferred method of delivering goods. As it is reliable, it makes the process simpler and more cost-effective compared to any other delivery method.

Delivery aggregators like Shiprocket are the ones responsible for delivering goods. But incase of COD type of delivery, they have to collect the payments too. Companies have many COD-type order deliveries every day so it’s important to check if the correct payments are received.

Verifying each and every payment is not an easy task. Hence Cointab’s software can be used to make this verification process easier. It verifies the amount by integrating the OMS report and the COD remittance report. This way Cointab is able to check the correct amount and also show if more or less payments are made.

Required Reports Amount Verification Process

Order management system report

The payment type (PG or COD), the order ID and the order amount are recorded in this report.

COD remittance Report

The COD payments collected by the COD vendor along with the Order ID are mentioned in this report.

Amount Verification Process

The output produced by Cointab’s software is shown below after verifying the amounts in the OMS report and the COD remittance report.

Reconciled Shiprocket COD transactions:

These are the order deliveries that show in both the OMS report and the Shiprocket report. Since these orders are present in both the reports it means that amount collected for these order deliveries is correct. Hence, these orders are reconciled.

Less COD Payment Received from Shiprocket

For these order deliveries the amount recorded in the OMS report is more than in the Shiprocket report. That means the less amount is collected by Shiprocket than the expected amount. This amount gets highlighted in this row so the company will know how much amount is still to be paid.

More COD Payment Received from Shiprocket

For these order deliveries, the amount recorded in the OMS report is lesser than in the Shiprocket report. That means more amount is collected by Shiprocket than the expected amount. This amount gets highlighted in this row so that company can keep track of the excess money paid. They can immediately reimburse it to clients so there will be no customer complaints.

Pending COD payments

The Software compares the OMS and the COD. When the amount recorded in the OMS report but not found in the Shiprocket report that amount is displayed. It means that the payment for these orders is still pending to be collected.

So if you want to cut down the time consumed in the verification process and not have to deal with all the courier partner reports. Then Cointab’s software will be a good help for you as it produces the result in a report consisting of all the necessary information. The finance teams will be able to analyze this report way quicker and keep a track of payments made.