The biggest grey in e-commerce selling is payment reconciliation. So before we understand and demystify the payment reconciliation, let us first understand why it is payment reconciliation for e-commerce sales via Amazon, Flipkart, and Shopify is complex –
In an offline sale, the transactions are either in credit or cash, a simple accounting platform, can record sales, any returns, receipts of the payments and outstanding payments.
In online worlds things get tricky, especially when one is selling via marketplaces such as Amazon, Flipkart, Ajio, Myntra, Nykaa, or others.
First a seller is required to pay commission, logistics fees and other fees for each order, and part of which is fixed and part variable. This results in different payouts for each order based on selling price, product weight and dimensions, ship from and ship to locations, method of fulfillment etc…
What makes the matter worse is there are returns that one needs to account for, and penalties against those returns that a seller need to account for, just like order payments, return penalties also vary depending upon type of return that is customer return or courier return, sale price, location from where return is initiated.
To help sellers overcome the hassle of reconciliation, we are sharing free excel template to reconcile payments, and get complete visibility over your entire e-commerce opeations.
The template (link below) is the most easy to use template that you will ever see, 5 minutes of daily effort of recording sales, returns and payments will help sellers identify exact payments for each orders, returned orders, unpaid or overcharged orders, undelivered returns.
Download Free Flipkart Excel Template
Download Free Meesho Excel Template
Download Free Myntra Excel Template
The free excel template contains instruction on the first sheet, next sheets are to record orders, returns and payments, and final sheet is where one can complete reconciliation. Every time new orders, returns or payments are added in the sheet, please hit refresh button to view updated reconciliation.
Do not forget to enable Macros at the time opening the excel template.
We hope this helps! Happy selling!!