Reconciliation is the method where we can check payment movement in all e commerce Marketplaces like Amazon, Flipkart, Paytm, Myntra, Snapdeal etc .
In Brief Payment Reconcile Consists.
- Successful Order
- Damaged Return.
- Others Return
- Cancelled Orders
- Other Deductions
Here seller can get monthly data about Gross sale and Net Sale.
Why it is important for all sellers.
It is important for all sellers because seller can get data report that how much money it is deducting and receiving from market places .Whether it is courier charges, commission fee, advertisement etc.
Reconciliation helps in
- Matching the payment.
- To know for which orders marketplace has not paid.
- To find any extra commissions or logistic charges deducted.
- Can claim for refund of amount which is wrongly charged after reconciliation done.