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Quick and Strong Reconciliation

eCommerce Sellers operating in multichannel have a big and common concern regarding reconciliation. Reconciliation is the method of comparing two different ledgers and making a balancing statement out of it. eVanik OWS being a business management system software brings out to you the efficient and effective way to instantly reconcile without any hustle in real-time. It takes over the responsibility to cross check your payments, inventories, charges, taxes, etc to adhere to all the eligibility required to ease your reconciling power. This is most trusted software assistance by sellers’ Chartered Accountants and is highly suitable for any business size

reconciliation

Need for Reconciliation for E-commerce Sellers

Reconciliation is a very crucial process to mitigate the financial risks arising due to non-reconciliation of orders, inventory, payments and vendors. Reconciliation has to be integral business process for any marketplace seller or online seller.

Hardships Faced by Online Sellers While Reconciliation

Unpaid Order

Returns not received

Claims and Disputes

Under Paid Orders

Wrong products returned

Wrong shipping weight

Wrong Deductions

Damaged / Lost Returns

Order Date vs Invoice Date: GST Implications

Replacements

Reimbursements not received

Payments Controlled by Channel

Unpaid
Still not paid | Payment cycle delays
Under Paid
Lower payments | Incorrect deductions
Wrong Charges
Shipping weight | Commission charges

No Control by Seller

  • 01Product level profitability
  • 02GST and TCS mismatch
  • 03Accounting and Compliance concerns
  • 04Slow down in business growth due to back office tasks
  • 05Multi-Channel dynamic behavior
  • 06Different strokes for different folks

Order Controlled by Customer

Ordered
Order status from placing to approved (Timelines?)
Returned
Customer Return: Direct reverse shipping cost to Seller. Slower inventory turns, pricing impact
Cancelled
Inventory turn loss to seller
Replaced
Longer realization cycle, original order could get delayed in return or in damaged condition

Shipping Controlled by Courier

Shipped
Time to Ship | Shipping Charges | COD Collected ?
Returned
Unsellable or Damaged | Lost in Transit
Cancelled
Cancellation post pick up
UnShipped
Delayed Shipments | Return Reversals
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