One of the biggest online markets for children’s clothing is called Hopscotch. It is a perfect place for purchasing clothing, accessories, or gifts for kids. Customers purchasing items from Hopscotch guarantees high-quality goods and avail returns in the event of defective products. Hopscotch streamlines the consumer experience; everything is first-rate and top-notch, from placing an order to processing payments to getting deliveries. A large consumer base is attracted by having such outstanding services. This turns into a perk for the vendor using Hopscotch. Growth is the best-case scenario for any firm because it indicates an expanding reach. The number of transactions a seller must handle is enormous because of the wide client reach. This indicates that while the vendor is undoubtedly selling more things, he or she must also maintain detailed records of each product sold. This is an extremely challenging task, and failure to complete it properly could result in significant losses for the company. Cointab has created a solution for such a situation using its automated reconciliation software. Following basic configuration, the software may automatically load data through SFTP, email, and API. For a firm, this saves a tonne of time. The software then examines each detail, cleans the data, regardless of the format in which it is stored, and provides a result, making it simple for a firm to study each detail. The automated reconciliation software performs seamless Hopscotch marketplace reconciliation using OMS and assists sellers in understanding all of their transactions with Hopscotch and keeping track of all transaction amounts. This information enables sellers to identify potential areas for cost savings or loss recovery.
The Reports needed for reconciliation are:
· Bank Statement
· Reports from the client’s OMS (e.g., SAP, Tally, Oracle, APX, etc.).
Using a common identifier, the software links the reports to the client OMS reports, and the reconciliation process is done. The system then double-checks every order detail, including the item amount, fees that apply to the payment that was made, and fees that were levied. The results are then presented in a simple, easy-to-understand format and are all available on a single dashboard.
The result is as follows:
Hopscotch – OMS Reconciliation
Each piece of information kept in the client’s OMS system is verified by the system, which also compares it to the Hopscotch Invoice report. The following distinctions and highlights are made for the orders:
The transactions where the order amounts are equal.
Less Amount recorded in OMS
In the OMS, the order amounts for these transactions are less than what is shown in the Hopscotch Sales report.
More Amounts recorded in OMS
Order transactions in which the amount in the OMS exceeds the amount in the Hopscotch Sales report.
Missing in Hopscotch
Despite being recorded in the OMS system, the orders are not included in the Hopscotch reports.
OMS – Hopscotch Reconciliation
Each piece of information presented in Hopscotch reports is verified by the system, which then compares it to the client’s OMS. The following orders are then noted and identified:
Reconciled with Hopscotch
These are the transactions where the order amounts are the same in both reports.
Less Amount recorded in Hopscotch
Orders in which the Hopscotch Report amount is less than the OMS report amount.
More Amounts recorded in Hopscotch
The transaction orders recorded here have their amount in the Hopscotch Report exceeding the amount that was recorded in the OMS report.
Missing in Hopscotch
The transactions which are missing in the Hopscotch reports but are recorded in the OMS system.
Hopscotch marketplace reconciliation using OMS is carried out easily as shown in the results above. The software automates the data load and accepts custom input data which makes it easier for a seller to conduct reconciliation. A seller only needs to wait for an easy-to-read report for seamless analysis because the software handles all the work. Using this software to reconcile can help a seller save a lot of time and ensure that all decisions are made after careful consideration of reliable data. This will open up the possibility for rapid and precise data-driven decisions and ensure that the company can grow without encountering any unforeseen dangers or obstacles.