Seamless Reconciliation Of Nykaa Marketplace Using OMS
Seamless Reconciliation Of Nykaa Marketplace Using OMS
Nykaa Fashion has become a popular online destination for fashionistas in India. They offer a wide variety of clothing options, catering to diverse styles.
Nykaa Fashion’s booming popularity means a surge in orders and transactions. However, verifying payments from both customers and Nykaa itself can be a time-consuming task. Manual reconciliation risks errors and potential losses due to missed underpayments.
Introducing Cointab: Your Automated Reconciliation Partner Cointab, our automated reconciliation software, simplifies the process for Nykaa Fashion sellers. It automatically verifies all payments, highlighting any discrepancies like underpayments or overpayments. This ensures you stay on top of your finances and avoid unnecessary losses. With Cointab, you can finally say goodbye to tedious manual reconciliation and focus on growing your business on Nykaa Fashion
Reports required for reconciliation:
Nykaa All Order Report:
This comprehensive report details all orders placed on the Nykaa platform for your products.
Nykaa Sales Report:
This report focuses specifically on sales figures for your products on Nykaa Fashion.
Nykaa Payout:
This report outlines the final payout amount you receive from Nykaa after accounting for commissions and fees.
Your Data:
Bank Statement:
Your official bank record detailing all transactions, including those related to Nykaa payouts.
Order Management System (OMS) Reports:
Data from your chosen OMS platform (e.g., Increff, Unicommerce, Easy Ecom) containing details about your orders, inventory, and potentially even payouts.
Nykaa fashion-OMS
Solution seamlessly compares your OMS reports with the Nykaa Fashion sales report, providing a comprehensive overview of your sales performance:
Reconciled Orders:
These orders represent a perfect match in sales amounts between both reports, confirming data integrity and record accuracy.
Proactive Discrepancy Detection with Pointers:
Early identification of discrepancies is crucial for financial well-being. Our software flags orders with mismatched sales figures, providing pointers to help you investigate further. These pointers could indicate:
A lower amount recorded in your OMS compared to Nykaa Fashion (potential underpayment on your end).
A higher amount recorded in your OMS compared to Nykaa Fashion (potential overpayment by Nykaa Fashion).
Transparency in Canceled Orders:
Canceled orders are automatically identified during reconciliation. As no payment is expected for these cancellations, they won’t be reflected in your OMS report. This transparency eliminates confusion and allows you to focus on active sales that require attention.
OMS-Nykaa fashion
Our automated reconciliation software takes the hassle out of the process. It seamlessly compares your OMS reports with Nykaa Fashion’s data, providing a clear picture of your sales and potential discrepancies:
Matched Orders:
Orders with a perfect match in sales amounts between both reports. This confirms data accuracy and ensures you’ve received the correct payment.
Discrepancy Detection:
The software flags orders where the sales amount differs between the reports. This allows you to investigate further and potentially recover lost income:
Less Received from Nykaa Fashion:
These orders indicate a potential underpayment by Nykaa Fashion.
More Received from Nykaa Fashion:
These orders might signify an overpayment by Nykaa Fashion.