In the vast realm of online marketplaces, Amazon stands as a global giant, attracting businesses seeking growth. When it comes to e-commerce, Amazon stands out as the reliable choice, but the intricacies of payment confirmation and account settlement can be overwhelming. The reconciliation process, involving various charges for each order and diverse reports from Amazon, adds complexity to data management. Cointab emerges as a solution, streamlining this intricate process effortlessly.

With user-friendly software, businesses can upload data, allowing Cointab Reconciliation Software to generate results promptly in an easily understandable format. The system’s adaptability to diverse data types eliminates the need for companies to undergo extensive changes in their data management practices. Empowering finance teams, Cointab Reconciliation facilitates efficient analysis and issue resolution for a seamless Amazon experience.

Reconciliation process:

Data Required for Reconciliation
  • All Order
  • MTR Reports (B2B & B2C)
  • Disbursement Report
  • All Return
  • FBA Return
  • Order Level Reimbursement Report
  • SKU master
  • Bank Statement
  • We verify Amazon marketplace reports in three steps
  • Payment Verification
  • Fees Verification
  • Settlement in Bank Account

Let’s go through each step one by one

1. Payment Verification

The software initiates the payment verification process, by generating a two-tier summary of the order report. The first tier is structured based on order ID and SKU, while the second tier relies on a unique order ID (Amazon order summary). Within this order summary, Amazon’s initial level of verification is executed. Subsequently, it is connected with the Disbursement report (payment report) and MTR report (invoice report) using a unique order ID as a reference point. This linkage enables the verification of the expected amount from the MTR report against the Disbursement report. The precision of this process ensures accurate reconciliation and a transparent overview of financial transactions.

The provided image is extracted from the Cointab Result Dashboard, offering a comprehensive summary of payment verification. It compares the Invoice Amount as per the MTR report (utilizing the Sale Invoice and Credit Notes) to the Disbursement amount from the Disbursement report. The verification process meticulously checks all unique order IDs, highlighting any discrepancies under Total Unreconciled Amount.

Net Sales as per MTR Reports:

This section showcases the anticipated total amount from Amazon, derived from the MTR report.

Net Sales as per Disbursement Report:

Here, the Net payment amount according to the Disbursement report is presented.

Total Unreconciled Amount:

It signifies the difference between Net Sales as per the MTR Reports (Expected amount) and Net Sales as per the Disbursement Report (Payment Amount).

Reconciled Orders:

This category shows all orders where the expected amount aligns with the payment amount, exhibiting a delta less than or equal to 1 rupee.

Less Payment Received from Amazon:

Here the orders are listed where the amount received from Amazon falls short of the amount MTR report.

More Payment Received from Amazon:

Shown here are the orders where the amount received from Amazon exceeds the figures reported in the MTR.

Pending Payment from Amazon:

Represented here are the transactions awaiting payment from Amazon, ensuring a transparent overview of financial interactions.

2. Fees Verification 

Amazon imposes several fees on a single order, Shipping Fee, Closing Fee, Referral Fee, Pick and Pack Fee, Tech Fee, and more. To ensure accuracy, Cointab employs a meticulous verification process for each fee category.

Amazon Shipping Fee Verification:

Our system relies on a comprehensive Rate Card, meticulously crafted by factoring in crucial elements such as Shipping zone, SKU weights (derived from the client’s item description), fulfillment type, and step level. This ensures precise verification of Amazon’s Shipping Fee. 

Closing Fee Verification:

The Closing Fee verification process utilizes a specialized rate card structured around the price range of an item. This tailored approach ensures that Closing Fees are accurately verified… 

Referral Fee Verification

Verification of Referral fees is conducted through a detailed examination of the referral fee percentage, a metric derived from the specific details provided by Amazon. This meticulous process guarantees the accurate assessment of Referral Fees associated with each order

3. Settlement amount in the bank

The verification of the amount to be settled by Amazon involves a meticulous process of linking the disbursement file to the bank statement. This crucial step ensures that the settled amount is accurately cross-verified directly with the bank records, providing a report of the financial transactions.

The above Result section is for verification of the settlement amount in the bank, 

Total Amazon Settlements:

Shown here are all Amazon transactions recorded in the bank.

Reconciled with Amazon Settlement Report:

The transactions found in the bank match with the Amazon settlement amount and then those orders are highlighted.

Less Settlement Received from Amazon:

Instances where the amount received in the bank falls short of the settlement amount assured by Amazon.

More Settlement Received from Amazon:

Occurrences where the amount received in the bank exceeds the settlement amount promised by Amazon.

Amazon Settlement Received but Missing from Settlement Report:

Documenting transactions wherein the settlement amount is received in the bank but is not reported in the settlement report

If you want to Automate your Amazon Payment verification process, contact us now.

To see the Amazon Fee verification process Click Here.

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