E-commerce Payment Reconciliation System For Online Sellers

Payment Reconciliation is a process in which merchants can view the amount they have earned at the end of the payment cycle from the Market (Online Sales Channel) as a sale.

Generally, the payment cycle varies from 15 days to month depending on the markets.

In Ecommerce Payment Reconciliation, a person handles a wide range of reports such as - Sales reports, payment reports, Marketplace commission reports, and Returns reports. Vendors find it difficult to work with many reports and are often confused about payment status. As a result, in the eCommerce industry, part of Payment Reconciliation is considered the most difficult.

• The role of the person in charge of Online Payment Reconciliation is to make the process easier for the merchant and to track all orders and payments received.
• It downloads all relevant reports from the Various Market and confirms which order is received and how much.
• He raises a question in the market to understand a particular transaction or issue.

Through this process, the seller understands the real value he earns at the end of the payment cycle by selling his products online. Thus, it opens the way for the seller to judge the effective prices of different products in different markets that may be profitable over time.