In complex situations, especially in the e-commerce industry, many tend to blindly rely on payment methods in the market and get stuck easily. In today’s e-commerce environment, exploring glitches in the payment system in the market is important. Having a working machine or solid system that handles all of your payment reconciliations is necessary for a budding seller.
In some cases, tracking the product of each product, which operates without a warehouse, is listed, difficult as markets like Amazon or Flipkart can reach retailers quickly. However, payment can only be obtained depending on the payment cycle of a particular sales channel. The market pays the trader a sum of money at the end of the cycle, as these payment cycles can change, at the end of which reflects the transaction, which is held throughout that cycle. It also reduces certain commissions, service costs, taxes, and penalties depending on certain charges.
We in business, value everyone's money, and leaving 'no doubt' is our foundation. Therefore, to keep a record of all payments and cancellations, to apply for a refund, you must.
Two useful payment reconciliation strategies
1). Market Seller Admin Panel
Your merchant dashboard, in all markets, will have a record of the products you sold and received for payment. So, if you only count on one market, a merchant panel is probably the easiest way to keep track of your payments.
2). Excel Spreadsheets
Excel has been a great friend of an accountant for many years and is an extremely flexible tool for building a one-stop payment system. Data can be sent from multiple sources and can be viewed in many creative ways within excel. The fact that you can code and design special tasks to perform your tasks means that you get excessive control over data storage and analysis.
- E-Commerce Payment Reconciliation
- Flipkart Payment Reconciliation
- Amazon Payment Reconciliation
- Meesho Payment Reconciliation
- Best eCommerce Payment Reconciliation
- Microsoft Excel-based software that can work on any computer with Microsoft Excel.
- You need to place Shipped Orders, Return Orders, and Payment where it will show you pending payments from a specific market.
- You can do the following with this software namely Manage payments Manage profits Manage claims Manage markets Dashboard for sale analysis Enter a market Enter a reason to return An accurate result based on input.
- There is no dependence on technology.
- Easy to use.
- Easily identified, how much money did you get with the specific order id?
- A highly efficient market that is easily identified.
- There is no dependence on technology to get accurate results.
- There is no error of error.
- Time-Saving Self-Control to enter or check all payments one by one.
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