If a business wants to grow it has to keep track of all the transactions that happen. For this to happen a business has to reconcile its transactions from time to time. As it helps keep a track of the entire process of a transaction, from the placement of orders through the timely and accurate receipt of all payments. Reconciliation is essential to an e-commerce business because of this. As it requires a lot of time for data management, cleaning, and organization, reconciliation is a particularly challenging task. The Cointab system is the essential instrument in this situation. This difficult process is made easy by the system. It accurately reconciles and checks the data between the OMS System reports and the Limeroad reports. After reconciliation, a customer can easily review the results to see if either report includes any errors.
Reports needed for reconciliation
The process of reconciliation starts by linking the above reports to the client OMS reports using a common identifier. After this process the system cross-checks every order detail from the item amount, fees applicable to the payment received and fees actually charged.
The results are then displayed in an easy-to-read manner which is very easy to analyze and is all available on a single dashboard.
The system verifies each item of data stored in the client’s OMS system and matches it with the Limeroad Invoice report. The orders are then differentiated and highlighted as follows:
OMS– Limeroad Reconciliation
The System verifies each piece of data provided in Limeroad reports and compares it with the client’s ERP. The orders are then identified and highlighted as follows:
Companies will no longer be able to remain competitive and relevant with inadequate reconciliation. Today’s business environment is becoming increasingly complex. Accurate verification is necessary for fast and accurate decision-making. The best way to achieve this is through Cointab’s extensive reconciliation system.