Seamless Reconciliation of UPS Express Shipping Invoice with Cointab
Seamless Reconciliation of UPS Express Shipping Invoice with Cointab
Streamline Your UPS Shipping with Effortless Reconciliation
UPS, a global leader in logistics, empowers businesses to deliver what matters most with its extensive network and innovative technology. However, managing accurate shipping costs can be complex.
This is where Cointab Reconciliation Software steps in. Cointab seamlessly integrates with your existing systems to automate UPS invoice reconciliation, saving you time and ensuring peace of mind.
Focus on Your Business, Not Paperwork
Cointab eliminates the tedious task of manually reviewing invoices and data reports. It automatically verifies critical details such as:
Pin Zone Reports:
Ensure accurate delivery zone calculations for optimal pricing.
SKU Reports:
Match product details (weight, dimensions) to ensure correct shipping charges are applied.
Rate Cards:
Verify that the rates applied to your shipments are current and accurate.
Effortless Reconciliation for Every Shipment
Cointab simplifies reconciliation by integrating with your existing software:
ERP Systems:
Effortlessly pull data from your Enterprise Resource Planning system.
Invoices:
Automatically import UPS invoices for streamlined verification.
Focus on Growth, Leave the Details to Cointab
By automating UPS invoice reconciliation with Cointab, you can:
Reduce Costs:
Minimize billing errors and ensure you’re not overpaying.
Save Time:
Free up your team to focus on core business activities.
Improve Accuracy:
Gain confidence in your financial data with automated verification.
Grow your business with confidence. Let Cointab handle the complexities of UPS invoice reconciliation.
SKU Report:
Automated Weight Verification for Accurate Billing
Cointab ensures accurate UPS billing by automatically verifying product weights and calculating volumetric weight when needed. Here’s how it works:
Product Data Retrieval:
Cointab retrieves SKU data, including gross weight, from your ERP system.
Volumetric Weight Calculation (if applicable):
If dimensional data (length, width, height) is available, Cointab calculates the volumetric weight using the formula: Length (cm) x Width (cm) x Height (cm). This is important for determining the most cost-effective shipping rate based on package size.
Divisor Application:
Cointab applies the divisor specified in the relevant UPS rate card. If no divisor is provided, a default value of 5,000 is used.
Data Integration:
The calculated weight (volumetric or gross) is then transferred to both your ERP report and the UPS invoice for accurate billing.
Rounding (optional):
Finally, the weight can be rounded to the nearest whole unit according to your preference.
Streamlined Process,
Accurate Results:
Cointab automates this entire process, eliminating manual calculations and potential errors. This ensures you’re always billed based on the most accurate weight for your UPS shipments.
Zone:
UPS Zones: Ensuring Accurate Shipping Rates
Cointab streamlines UPS invoice reconciliation by automating zone verification, a key factor in determining shipping costs.
Delivery Zones:
Each UPS delivery location has a unique Pincode that corresponds to a specific zone (e.g., regional, national, local) identified by a letter code (a, b, c, etc.) on the invoice.
Zone Impact on Rates:
UPS shipping rates are based on the origin (your location) and destination (delivery zone) of your package. Cointab verifies the zone information on the invoice to ensure you’re charged the correct rate.
Rate Cards:
Cointab can also reference your UPS rate card to confirm that the applied rates for your shipment’s weight and destination zone are accurate.
Effortless Zone Verification for Optimal Costs
By automating zone verification, Cointab ensures you’re never overpaying for UPS shipping. You can focus on running your business while Cointab handles the complexities of invoice reconciliation.
Rate Card:
Verifying Rates and Charges with Cointab
Cointab ensures accurate UPS billing by automatically verifying the charges applied to your shipments based on weight, zone, and other factors outlined in the UPS rate card.
Rate Card Integration:
Cointab references your UPS rate card to determine the expected charges for each shipment based on:
Weight:
The weight used for billing (volumetric or gross) as calculated by Cointab (see previous section).
Zone:
The delivery zone as identified by the Pincode on the invoice (see previous section).
Other factors:
Additional charges may apply based on factors like service type (e.g., forward delivery, return to origin – RTO) and weight exceeding allowed limits. Cointab can verify these charges against the rate card as well.
Invoice Verification:
Cointab compares the specific details listed in the relevant rate card columns (e.g., “courier,” “zone,” “fwd_wt_fixed” – weight limit for fixed charges, “divisor”) to the corresponding information on your UPS invoice. This ensures the invoice reflects the correct base charges for your shipments.
Delivery Date Validation:
Cointab can also verify if the delivery dates on the invoice fall within the validity period of the applied rates. UPS rates may change periodically, so ensuring the correct rate card is used is crucial.
Streamlined Verification, Reduced Errors
By automating these comparisons, Cointab minimizes the risk of errors and ensures you’re billed according to the most current UPS rates and your specific shipment details. This translates to accurate costs and avoids potential overcharges.
Rate Card Validity:
Understanding UPS Rate Calculations with Cointab
Cointab simplifies UPS invoice reconciliation by automating calculations for various charges based on the UPS rate card and your shipment details. Here’s a breakdown:
Forward Delivery Charges:
Weight Limits:
The rate card specifies a weight limit (“fwd_wt_fixed”) for a fixed charge (“fwd_fixed”).
Extra Weight:
If the shipment weight exceeds the limit, an additional charge (“fwd_a_add”) applies per unit of extra weight.
Cointab’s Role: Cointab calculates the expected forward charge using the formula:
Expected_fwd_chg = fwd_fixed + (extra_weight) x fwd_a_add
Return to Origin (RTO)
Charges:
Weight Limits:
Similar to forward deliveries, the rate card defines a weight limit (“rto_wt_fixed”) for a fixed RTO charge (“rto_fixed”).
Extra Weight:
Exceeding the weight limit incurs an additional charge (“rto_wt_add”) per unit of extra weight.
Cointab’s Role: Cointab calculates the expected RTO charge using the formula:
Expected_rto_chg = rto_fixed + (extra_weight) x rto_add
Cash on Delivery (COD) Charges:
Calculation:
The higher value between the fixed COD charge (“cod_fixed”) and a percentage (“cod_rate”) of the item price determines the expected COD charge.
Cointab’s Role: Cointab automatically calculates the expected COD charge based on the rate card and your shipment details.
Final Expected Amount:
Components:
Cointab combines the expected forward charges, RTO charges, COD charges, and any applicable GST (Goods and Services Tax) to arrive at a final expected invoice amount.
Navigating Financial Precision: Cointab Reconciliation Software Metrics
2M
1.6B
$37B
Cointab’s Results:
Transparency:
Once all calculations and verifications are complete, Cointab presents a clear breakdown of the final amount, including zone, weight, and all associated charges. This allows you to easily compare the expected amount to the actual charges on your UPS invoice.
Effortless Calculations, Accurate Results
Cointab automates these complex calculations, eliminating errors and ensuring you understand the breakdown of your UPS charges. This transparency allows you to focus on your business while Cointab handles the intricacies of invoice reconciliation.
Cointab’s Automated Invoice Verification: Identifying Discrepancies
Cointab automates UPS invoice reconciliation, streamlining the process and ensuring accurate billing. Here’s how Cointab identifies potential discrepancies:
Correct Charges:
Cointab verifies that the fees charged on the invoice match the rates calculated using the weight, zone, and other factors specified in the UPS rate card and your ERP data.
Charge Discrepancies:
Cointab flags these discrepancies for further investigation:
Zone Match, Weight Match Overcharged/Undercharged:
The zone and weight on the invoice are correct, but the applied fee doesn’t match the rate card. This could indicate an error in the rate card, invoice, or a mismatched service type (e.g., forward delivery vs. RTO).
Zone Mismatch, Weight Match:
The weight matches your ERP data, but the zone information (and corresponding rate) on the invoice differs. This might be due to an incorrect Pincode or data entry errors.
Zone Match, Weight Mismatch:
The zone on the invoice aligns with your records, but the weight differs from your ERP data. This could be caused by a data entry error or missing product information.
Zone Mismatch, Weight Mismatch:
Neither the zone nor the weight on the invoice matches your ERP data. This requires further investigation to identify the root cause (e.g., incorrect invoice or missing shipment details)
Matching Products with Your ERP System
Cointab streamlines invoice reconciliation by seamlessly integrating with your existing ERP system. This allows for automatic verification of product information:
Matched Products:
If a product on the UPS invoice is also present in your ERP report (identified by the same SKU or other identifiers), Cointab can leverage the weight data from your ERP to ensure accurate calculations.
Missing Products in ERP:
If a product on the UPS invoice is not found in your ERP report, Cointab will flag this discrepancy. This might indicate missing data entry in your ERP or potentially incorrect information on the invoice. Cointab cannot calculate weight in this case, but it will highlight the issue for further investigation.
Effortless Integration, Improved Accuracy
By integrating with your ERP, Cointab eliminates the need for manual product matching and weight lookups. This reduces errors and ensures your invoice reflects the correct weight for each shipment.
Verifying Delivery Zones with Cointab
Cointab ensures accurate invoice reconciliation by automatically verifying delivery zones, a crucial factor in determining shipping costs.
Pincode Master Integration:
Cointab can integrate with your Pincode master database to verify the existence of the Pincode listed on the UPS invoice.
Matched Pincodes:
If a match is found, Cointab can confirm the corresponding delivery zone (e.g., national, local). This allows Cointab to verify if the zone information on the invoice is accurate and aligns with the applied shipping rates.
Missing Pincodes:
If a Pincode on the UPS invoice is not found in your Pincode master, Cointab will flag this discrepancy. This might indicate an incorrect Pincode on the invoice or missing data in your system. Cointab cannot verify the zone in this case, but it will highlight the issue for further investigation.
Streamlined Verification, Reduced Errors
By automatically verifying Pincodes against your master list, Cointab minimizes the risk of errors in zone identification. This ensures you’re billed based on the correct shipping rates for each UPS delivery.
Verifying Rates with the Rate Card
Cointab ensures accurate billing by automatically verifying shipping rates against your UPS rate card.
Matched Rates:
If the order details (weight, zone, etc.) on the UPS invoice match the corresponding entries in your rate card, Cointab can confirm that the applied shipping rates are correct. This verification helps identify any potential discrepancies in the charges.
Missing Rates:
If a specific order entry on the UPS invoice cannot be found in your rate card, Cointab will flag this discrepancy. This might indicate an outdated rate card, a missing entry, or an error on the invoice. Cointab cannot verify the rate in this case, but it will highlight the issue for further investigation.
Effortless Rate Verification, Reduced Errors
By automatically comparing order details with your rate card, Cointab eliminates the need for manual verification and minimizes the risk of errors in rate application. This ensures you’re billed according to the most current and accurate UPS rates.
Fee Verification with ERP Integration
Cointab leverages your existing ERP system to further streamline fee verification:
Product Matching:
When a product on the UPS invoice matches an item in your ERP (identified by SKU or other identifiers), Cointab can compare the invoiced charges to your internal pricing data. This helps identify any discrepancies between what you were charged and your expected costs based on your internal records.
Maximize your financial accuracy and productivity with Cointab Reconciliation Software today!
Don't waste time on manual financial reconciliation. Let our Reconciliation software do the work for you.
In conclusion, manually reconciling UPS invoices can be a time-consuming and error-prone process. Cointab’s software automates this task, streamlining verification and ensuring accurate billing. By automatically comparing invoice data to your ERP system, Pincode master, and UPS rate card, Cointab identifies potential discrepancies like zone mismatches, weight inconsistencies, and incorrect charges. This allows you to focus on running your business with confidence, knowing your UPS invoices are accurate and you’re not being overcharged. Cointab’s efficiency, accuracy, and cost-saving benefits make it an invaluable tool for any business that ships with UPS.