AJIO is a brand and marketplace and is a place to find well-chosen, current fashions at the most affordable pricing. Through AJIO, they are creating a distinctive e-commerce strategy for India leveraging the state-of-the-art internet infrastructure set up by AJIO and a robust physical retail operation developed by Reliance Retail. The seamless integration of online and offline business models would be part of this paradigm, along with innovations in the areas of delivery services, the financial ecosystem, and improved customer experiences. Selling on Ajio’s marketplace is a fantastic opportunity for a vendor. A seller’s growth, as a result, will be exponential.
As a marketplace, Ajio charges fees to sellers who wish to use the site’s numerous amenities and popular use. Every time an order is sold through the marketplace, a fee is assessed. Due to the enormous volume of transactions, verifying these fees is incredibly time-consuming. The technology created by Cointab, which guarantees precision, can overcome this issue. A seller may efficiently and accurately record and analyze transactions with the aid of this automated reconciliation system. A seller can easily spot errors, fix them, or open a dispute with Ajio to get the errors or underpayments corrected.
The Reports needed for Reconciliation are:
Ajio Order Report
This report records all transaction order details between the seller and the marketplace.
Ajio Payment Report
The Payments done for each order along with other order details are recorded in this report.
The rate card consists of all the rates used to charge fees to the orders.
The SKU Master contains all the parameters of the item like weight, size, item price, etc based on which the rates are applied.
The system determines the commission charge for fee verification based on the rates applied to the item price and the parameter from each item’s SKU master. The algorithm then checks the calculated fees with the Ajio fees charged and separates the amounts. Given how it is arranged and condensed, the outcome is simple to examine.
The result is displayed as follows:
Correctly Charged Fee
All the number of orders and the total amount that is correct. This means that the calculated fee and the fee charged by Ajio are the same.
The Output then shows all the number of orders and the total amount that is Overcharged. This means that the calculated fee is lower than the fee charged by Ajio.
Undercharged orders are recorded here which are those orders whose calculated fee is higher than the fee charged by Ajio.
With insufficient reconciliation, businesses will no longer be able to remain competitive and relevant. The corporate world of today is getting more and more complicated. Fast and precise decision-making depends on accurate verification. The reconciliation system in Cointab is the most effective way to accomplish this. As demonstrated in the findings above, it is simple to distinguish between the results, identify any underpayments, and confirm the accuracy of the transaction data.