Indian Railway Catering and Tourism Corporation (IRCTC) is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways. For a business that helps customers book train tickets, it is necessary to be able to keep a track of every transaction and to make sure that all payments, refunds, and cancellations are accurately recorded. Doing so is a tedious task as it requires spending laborious hours on cleaning and extracting data from every report. The number of transactions daily is so vast that it is close to impossible to do such a task manually. This is where the software made by Cointab comes into the picture. Cointab does the Reconciliation of website orders with IRCTC in a seamless manner. The software offers the feature of automation with which loading data can be done automatically, and reconciliation can be scheduled. The software then cleans and extracts this data quickly to make reconciliation easy. The data is then linked and verified as needed and the results are produced in a very easy-to-analyze format. This result can be exported in any format and can be used to raise disputes if any.
The reconciliation process is as follows:
Reports needed for reconciliation are:
IRCTC Train bookings report
All the train bookings are present in this report with each and every detail.
IRCTC Train Cancelation reports
In the instance of a train booking being canceled, every detail of this canceled order is recorded in this report.
IRCTC TDR reports
For every cancellation, the transaction that is in the process of refund is recorded here.
Business Internal Data Reports
For a Business doing the bookings, all the train bookings and cancellations via the client company are present in this report.
Reconciliation of website with IRCTC:
The reconciliation process is done by linking all these reports to match and verify the bookings, cancellations, payments, and refunds. This is done so the client company can keep an accurate track of every transaction and the entire summary to make sure it avoids any unnecessary loss.
Business Internal data – IRCTC Reconciliation
Reconciled with Internal report
When the data in the IRCTC report matches the data in the Internal report it is reconciled.
Less payment recorded in IRCTC
Payments recorded in the IRCTC report are less than the payments recorded in the Internal report.
More payment recorded in IRCTC
The IRCTC report recorded payments more than what is recorded in the internal report.
IRCTC – Business Internal Bookings Reconciliation
Reconciled with Internal train bookings
Data in the IRCTC reports are matching the data in the internal booking reports.
Less amount recorded in internal train bookings
The amount in the internal train bookings is less than the amount in the IRCTC reports.
More amount recorded in internal train bookings
The internal train bookings report recorded a higher amount than the IRCT reports.
Business Internal Refund – IRCTC Refund Reconciliation
Reconciled with IRCTC
The IRCTC refunds are matching the refunds in the Internal report.
IRCTC Refund is less than internal refund
The refund given by the IRCTC is less than the refund expected in the internal report.
IRCTC Refund is more than internal refund
When the refund given by IRCTC is more than the refund expected by the internal report.
IRCTC Cancellation – Business Internal Cancellation Reconciliation
Reconciled with Internal train cancellation
The data recorded in the internal cancellation report matches the data in the IRCTC report.
Less amount recorded in internal train cancellation
The amount in the internal cancellation report is less than what is recorded in the IRCTC report.
More amount recorded in internal train cancellation
When the amount in the internal cancellation report is more than what is recorded in the IRCTC report
Observing the above results, we can see how easily the software does the reconciliation of website orders with IRCTC. The software automatically loads data and the data can be in any format, due to this a business can save a lot of time on manual effort. The software cleans and extracts the data and then links the data using configured logic. The results as shown above are very easy to read and the labels are customizable. Since the results are all displayed on a universal dashboard it makes analysis very easy and then the same can be downloaded in any format. These results can be used to raise disputes in case a business is suffering losses due to any errors by IRCTC. This can help a business keep accurate track of all the transactions while saving time and money.