Effortless Reconciliation Of Nykaa Marketplace Using OMS
Effortless Reconciliation Of Nykaa Marketplace Using OMS
Established in 2012, Nykaa has become a prominent player in the Indian beauty market, Nykaa offers a vast selection of authentic beauty products through a user-friendly e-commerce platform and growing stores. Whether you prefer the convenience of online shopping or the experience of visiting a physical store, Nykaa caters to all your beauty needs, offering a convenient and trusted shopping experience.
Reconciling data between your internal systems and Nykaa’s marketplace reports can be crucial for Nykaa sellers seeking financial transparency. However, discrepancies can sometimes arise due to variations in report formats.
Cointab offers a comprehensive solution to bridge this gap.
Our software meticulously compares data at the individual SKU level, ensuring alignment between your internal records and Nykaa reports. This in-depth analysis goes beyond simple order totals, allowing for a comprehensive review of all relevant statistics. By highlighting any discrepancies, Cointab empowers you to efficiently identify and resolve data inconsistencies. This translates to a clearer picture of your Nykaa transactions, including orders, payments, and charge assessments.
Essential Reports
Nykaa Data:
- Nykaa All Order Report: Provides a comprehensive view of all orders placed on the platform.
- Nykaa Sales Report: Details the total sales generated for your products on Nykaa.
- Nykaa Payout Report: Shows the amount Nykaa has paid you for your sales.
Your Data:
- Bank Statement: Reflects all financial transactions in your bank account, including payments from Nykaa.
- Client’s OMS Reports (e.g., Increff, Unicommerce, Easy Ecom.): Reports from your Order Management System (OMS) containing details on orders, inventory, and payments within your internal system.
The result is as follows
Matching Orders:
Reconciled Orders:
These orders represent a perfect match, where both your OMS and Nykaa’s Sales report reflect the same amount. This signifies a smooth transaction flow with accurate data on both platforms.
Discrepancies in Order Value:
- Under-recorded in OMS: These orders show a lower value in your OMS compared to Nykaa’s Sales report. This could indicate missing revenue or undercharged orders on Nykaa.
- Over-recorded in OMS: These orders show a higher value in your OMS compared to Nykaa’s Sales report. This could potentially represent overcharged orders on your end or missing information in Nykaa’s reports.
Missing Orders:
Missing from Nykaa:
These orders are present in your OMS but absent from Nykaa’s reports. This discrepancy might be due to order cancellations on Nykaa not reflected in your OMS, technical issues with Nykaa’s data transmission, or potential order processing errors.
Not Recorded in Nykaa:
While uncommon, these orders are entirely missing from Nykaa’s reports despite being present in your OMS. This could signify a significant data entry error in your OMS or potential fraudulent activity.
Achieve seamless reconciliation
Reconciling your Nykaa marketplace data with your internal Order Management System (OMS) can be a meticulous task. However, a streamlined approach like the one outlined here empowers you to identify and address discrepancies efficiently.
By categorizing discrepancies like under-recorded sales, overcharged orders, and missing data points, this system empowers you to maintain accurate financial records and optimize your Nykaa operations. Take control of your Nykaa finances today and unlock the power of seamless reconciliation.
Get a demo today!