Reconciliation is a very important aspect of a business using eCommerce services. Through reconciliation, one can track the journey from order placement to whether all payments are received correctly and as expected by the business. This difficult task can be made easier by using the system of Cointab. Cointab reconciles and verifies the data between the Mens XP reports and ERP System reports. After reconciliation, a client can view the results easily and know if there are any errors in either report.
Reports needed for reconciliation
- Mens XP Order Report
- Mens XP Advice Report
- Mens XP Lost Cases Report
- Mens XP Return Report
- Mens XP UTR Details Report
- Reports from the client’s ERP (e.g., SAP, Tally, etc.).
After the reports are collected and the reconciliation procedure is complete, the outcome is presented in a very organized manner.
The result is as follows:
Mens XP – ERP Reconciliation
The System checks all the data recorded in the client’s ERP system and compares the data with the Mens XP Order report. It then differentiates the orders and highlights them as follows:
- Reconciled Orders
- These are those orders whose amounts match.
- Less Settlement recorded in ERP
- The orders whose amount in the ERP is less than the amount in the Mens XP Sales report.
- More settlements recorded in ERP
- The orders whose amount in the ERP is more than the amount in the Mens XP Sales report.
- Missing in Mens XP
- These orders are missing in the ERP system but present in the Mens XP reports.
ERP – Mens XP Reconciliation
The System checks all the data recorded in Mens XP’s reports and compares the data with the client’s ERP. It then differentiates the orders and highlights them as follows:
- Reconciled with Mens XP
- These are those orders whose amounts match.
- Less Settlement recorded in Mens XP
- The orders whose amount in the Mens XP Report is less than the amount in the ERP report.
- More settlements recorded in Mens XP
- The orders whose amount in the Mens XP Report is more than the amount in the ERP report.
- Missing in Mens XP
- Those orders which are missing in the Mens XP reports but present in the ERP system.
