The booming e-commerce landscape has transformed the beauty industry, with Nykaa emerging as a leading online supplier of cosmetics and beauty products in India. While Nykaa offers a vast selection of cosmetics, skincare, and more at competitive prices, managing seller fees can be a huge challenge.
Nykaa calculates fees based on various factors for each order. Verifying these fees manually requires a tedious process of reviewing reports, extracting data, and comparing them across platforms – a time-consuming and error-prone task.
Cointab: Streamlining Nykaa Reconciliation
Cointab eliminates the burden of manual reconciliation by automating the entire process. Simply upload your Nykaa reports, and Cointab takes care of everything. Cointab automatically compares your data with Nykaa’s records, highlighting any discrepancies in fees. Gain clear reports outlining these potential inconsistencies, allowing you to investigate and address them efficiently.
Fees charged by Nykaa
Nykaa Charges Sellers a 25% Commission Fee: For each product sold through their marketplace, Nykaa takes a commission fee of 25% of the item’s price.
Reconciliation process is as follows
- Nykaa Order Report: This report details each product sold, including size, weight, category, and other parameters used to calculate fees.
- Nykaa Payout Report: This report shows all deductions, including fees, applied to your sales.
Traditionally, reconciliation involves manually:
- Calculating fees based on Nykaa’s rates (e.g., 25% commission).
- Comparing these calculations to the fees listed in the Nykaa Payout report.
- Identifying discrepancies between your calculations and Nykaa’s charges.
Cointab simplifies reconciliation by automating it completely:
- Upload your Nykaa Reports: Simply submit the Order and Payout reports.
- Automated Fee Calculation: Cointab utilizes the provided rate (e.g., 25% commission) and item prices to calculate fees for each order.
- Discrepancy Identification: Cointab compares your calculated fees with the charges listed in the Payout report, highlighting any differences.
Clear Results: You receive a clear overview of potential fee discrepancies, allowing you to investigate and address them efficiently.
The results are as follows
After reconciling your Nykaa fees, Cointab presents a user-friendly breakdown of the results:
Correctly Charged Fees:
This section displays the number and total amount of orders where the fees you calculated match Nykaa’s charges.
Overcharged Fees:
This section identifies any orders where Nykaa charged you more than the calculated fee. It also shows the total amount of this discrepancy.
Undercharged Fees:
This section highlights any orders where Nykaa charged you less than the calculated fee. The total amount of this difference is also displayed
Gain control over your reconciliation process with Cointab
Cointab streamlines your Nykaa reconciliation by automating the entire process in one go. Simply upload your Nykaa reports, and Cointab takes care of everything. Cointab analyzes the data, identifies any discrepancies in fees (whether overcharged or undercharged), and presents you with clear, actionable results.
Unlock the benefits today with Cointab!