Nykaa Fashion has become a rapidly expanding online clothes store. There are several outfit options available on their site including both traditional and western clothing, watches, shoes, and other appliances. Considering that Nykaa Fashion has grown to be a well-known brand over time, many individuals also favor purchasing from them. As more people use the Nykaa Fashion app or website to shop, more people purchase your goods, which raises the total number of transactions. However, as a business, you must review and confirm every payment made by the consumer. If the payments are not verified, you could end up getting underpaid and losing out on sales. Therefore, you can use our automatic reconciliation software to make Nykaa Fashion Marketplace Reconciliation with ERP process simpler. All of the orders placed and the associated payments are verified by our software.
Reports needed for reconciliation:
- Nykaa All Order Report
- Nykaa Sales Report
- Nykaa Payout
- Bank Statement
- Reports from the client’s ERP (e.g., SAP, Tally, etc.).
Nykaa Fashion Marketplace Reconciliation with ERP Result
Nykaa Fashion with ERP Reconciliation
The software reconciles the Nykaa Fashion reports with the client’s ERP report to ascertain whether the net sales amount that Nykaa Fashion has paid you is accurate. The software then displays the results and tells you whether or not the sales amount match. It also shows exactly how much is overpaid or underpaid. You will hence be able to can track orders and payments made.
Reconciled with ERP Leger
On these transactions, the net sales amount recorded matches in the ERP report and in the Nykaa Fashion report.
Less Amount recorded in ERP
The net sale amount on these transactions recorded is lesser in the ERP as compared to what is recorded in the Nykaa Fashion Sales report.
More Amounts recorded in ERP
Shown here is the transaction on which the net sale amount recorded in the ERP exceeds the amount recorded in the Nykaa Fashion Sales report.
Missing in Nykaa Fashion
These transactions are not recorded in the Nykaa Fashion reports but are recorded in the ERP system.
ERP with Nykaa Fashion Reconciliation
The software compares the client’s ERP report with the Nykaa Fashion report to determine if any net sale payments made to you by Nykaa Fashion on any orders were underpaid or overpaid. The software also indicates which transactions are still in progress. This backward reconciliation is done to verify the payments and net sales.
Found and Reconciled with Nykaa Fashion
On these transactions, the net sales amount matches in the ERP report and in the Nykaa Fashion report.
Less Amount recorded in Nykaa Fashion
These are the transactions on which the net sale amount is lesser in the Nykaa Fashion sale report as compared to what is recorded in the ERP report.
More Amounts recorded in Nykaa Fashion
Shown here are the transactions on which the net sale amount in the Nykaa Fashion Sales report exceeds the amount in the ERP report.
Missing in Nykaa Fashion
These transactions are not recorded in the Nykaa Fashion reports but are recorded in the ERP system.
The software completely automates the Nykaa Fashion Marketplace with ERP Reconciliation Process as seen in the results displayed above. It displays the orders on which the amount is paid correctly and also shows if any amount paid is incorrect. The exact underpayments made are also shown. This helps you keep track and raise an invoice to Nykaa fashion in case of underpayment.
To automate your reconciliation process use our automated reconciliation software.
