All businesses use different marketplaces to sell their products. Snapdeal is one such marketplace. Snapdeal is one of the fastest-growing e-commerce marketplaces in India today. They makes it very easy for businesses to sell on its marketplace. They also offer cataloging services to businesses. Snapdeal focuses also on providing excellent services to customers and provides a 24/7 marketplace for customers. Overall Snapdeal offers any business a great opportunity for growth. Since Snapdeal has millions of sellers using its platform. They are having millions of transactions to deal with and sometimes can make errors in payments or charges and the error can either be a mistake or technical. So, sellers have to be able to find out these errors and rectify them. For this, reconciliation between Snapdeal and the business is very important. So how can a business reconcile this data?
If we think about analyzing this data and verifying it using any traditional or manual methods. Reconciliation of this data will be almost impossible. Since the data requiring reconciliation is very vast and it keeps changing. An easier method for this reconciliation process is Cointab’s automated reconciliation system. Using this system, a business can save precious time that goes into data handling and directly skip to the process of analyzing the reconciled data and rectifying any errors directly. This will help a business gain the assurance between its transactions with Snapdeal and save a lot of time and money.
This report contains all the details of all the orders placed.
This report contains all the details about the payment made by Snapdeal to the seller and it also contains the UTR ids to verify the bank settlements for the clients.
This report contains all the details about all the sale orders and the amounts.
This report contains all the orders that have been refunded and all the payments refunded.
After Reconciliation of the payment report, we then Verify if the amounts hitting the bank are the same as the settlement amount or not. To do that the system links the bank statement with the Snapdeal Payment settlement Report. Then the system will verify the amounts and display the result as follows.