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

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 Orders
  • Under Paid Orders
  • Wrong Deductions
  • Replacements
  • Returns not received
  • Wrong products returned
  • Damaged / Lost Returns
  • Reimbursements not received
  • Claims and Disputes
  • Wrong shipping weight
  • Order Date vs Invoice Date: GST Implications

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

  • Product level profitability
  • GST and TCS mismatch
  • Accounting and Compliance concerns
  • Slow down in business growth due to back office tasks
  • Multi-Channel dynamic behavior
  • Different 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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