DX Express is a courier and logistics company in the UK that provides fast and secure collection and delivery services. It became a more prominent player in mail and courier deliveries to residential addresses.
Due to the increased distance between origins and locations of the deliveries varying, and the high amount of orders, manually keeping track of so many transactions and locations can be time-consuming. This might result in a variety of ups and downs, which would delay the data reconciliation process and result in inconsistencies. Cointab’s software can help you with this.
Your company’s reconciliation procedure will be made simpler by Cointab, which will also make your finance team’s job easier. Our software meets your needs and enables you to load data automatically. Due to the software’s complete automation, we verify your ERP reports, SKU reports, Rate card, Pincode master with your invoice for you in order to check if the amount is overcharged or undercharged.
Required Reports for DX Express Invoice Verification Process
Pincode zone Report
Pincode Zone Report consists of the origin pincode, destination pincode and the zone associated with that pincodes.
SKU report
Every product is given a SKU number that helps us denote the dimensions and the weight of the product.
Rate card
Rate card consists of the charges applicable for each invoice on the basis of its zone and weight of the product.
DX Express Invoice
All the important records like order ID, Billing zone, SKU, Product type, weight, RTO, Billing pincode, applied weight slab and the amount charged is provided by DX express that helps us in proceeding further.
Invoice verification
The software here checks if the charges calculated by the shipping company are expected charges or not and whether they reconcile. The calculations of the fee charged by DX Express depends on weight of the product, zone and the COD percentage. The software also checks the accuracy or the zone and the weight. The rate card is used to check if the rate used for the particular zone and weight is right.
Let’s look into these aspects a little more-
SKU report
- The ERP report is taken into consideration by the software as it gives us the SKU number that denotes weight and dimension of the product.
- f the weight is not given in the ERP reports then the weight given under the weight column in the invoice is taken into consideration.
- If the dimensions of the product are given then the volumetric weight is calculated with the help of this formula “Length x Width x Height”. In order to make the calculations work, the dimensions of the volumetric weight has to be in centimeters. The calculated value will be divided by the divisor given in the divisor card and if the divisor is not present in the card then it is to be divided by 5000.
- After all the calculations are done, the values are moved to the ERP reports and DX Express invoice.
- The final weight slab is rounded off to be the final slab.
Pincode Master
- A zone is assigned to the combination of origin location and delivery location. The origin and delivery location is linked to the invoice to get the desired Zone for each invoice.
- Every location is categorized by different zones like locally, regionally etc and each zone is denoted by its indicator i.e a,b,c etc.
Rate card
- The rates are given in the rate card on the basis of the weight of the product and the zone of the product. The charges might differ if the weight of the products increase, the rates given above are given according to an acceptable limit. The columns “courier”, “zone”, “fwd_wt_fixed” (the additional weight on which the fixed rate increases), and the “divisor” are checked with respective columns present in the DX express invoice to verify if the right items are put in the invoice.
- The rates present in the invoice are applicable only for a period of time and hence it is essential for the delivery dates to fall under these dates.
Charges
Expected forward charge
If the final slab calculated is lower or equal to the weight limit (“fwd_wt_fixed”) given in the rate card, that means that it is equal to the “fwd_wt_fixed” then the fees charged on it is “fwd_fixed” according to the zone. If it is not equal to the “fwd_wt_fixed” column then it means that the product has more weight. The fee charged for the extra weight is “fwd_add” according to the zone. So the formula for the expected charge is:
Expected_fwd_chg = fwd_fixed + (extra_weight) x fwd_add
Expected RTO charged
If the final slab calculated is lesser or equal to the weight limit (rto_wt_fixed”) given in the rate card, that means that it is equal to the “rto_fixed” and the fee charged on it is “rto_fixed” according to the zone. If it is not equal to the “rto_wt_fixed” column then that means that the product has extra weight. The fee charged for the excess weight is “rto_add” according to the zone . The formula for the expected charge is given as:
Expected_rto_chg = rto_fixed + (extra_weight) x rto_add
Expected COD charges
Whichever value amongst “cod_fixed” or “cod _rate” % of “order Value” is higher, that is used as the expected COD charge.
Expected final amount
The calculation of the forward charge, RTO charge, COD charge and the GST % gives us the final amount.
RESULT
The expected amount is based on the calculations of zone and weight of the product and since we have that now, the software compares the ERP report, Pincode report and the Rate card with the DX Express invoice.
ERP
Found in ERP
It is essential for the ERP report to match the invoice as the ERP report helps us denote the number of products delivered for each order. In this case, the orders can be verified and proceed further as both the reports match.
Not found in ERP
In this case, the records can not be verified and proceed further as the order entries are present only in the invoice and not in the ERP reports.
Pincode Master
Found in Pincode master
The Pin code master consists of the zones of the delivery, i.e regionally, globally etc and hence it is important for the Pincode master to match the invoice. In this case, both these reports match and hence it can be verified further.
Not found in Pincode master
In this case, the records can not be verified because the order entries are present in the invoice and not in the Pincode master.
Rate Card
Found in Rate card
The order entries present in the invoice are also present in the Rate card so the records can be verified.
Not found in the Rate card
In this case the order entries are present only in the invoice and not in the Rate card and hence it cannot be verified.
Fee verification using ERP- DX Express
Correctly Charged
With the help of the rate card the fee has been charged correctly. The zone of the delivery and the weight of the product also match the ERP report as well as the invoice provided by DX Express.
Zone Match, Weight Match – Overcharged
This shows that the zone of the delivery and weight of the product both match in the ERP reports and DX express invoice yet the fee charged is more than the expected amount, hence in this case the fee is overcharged.
Zone Match, Weight Match – Undercharged.
In this case, the zone and the weight match but the fee charged is still less compared to the invoice and ERP report, due to the fee not matching, the amount is undercharged here.
Zone Mismatch, Weight Match – Overcharged
This shows that the zone of the delivery and the fee do not match whereas the weight of the product matches in the ERP reports and DX express invoice, hence in this case the fee is overcharged.
Zone Mismatch, Weight Match – Undercharged.
The software compares the ERP report and the DX Express report and shows that the zone of the product and fee charged do not match the report whereas the weight matches and hence the amount is under charged in this case compared to the calculated amount.
Zone Match, Weight Mismatch – Overcharged
This denotes that after comparing the ERP report and the DX Express invoice report the weight of the product and fee do not match in both the reports, whereas the zone matches. Since the weight of the product and rate do not match, the amount is over charged in this case.
Zone Match, Weight Mismatch – Undercharged.
In this column, the software compares the ERP report and the DX invoice report and shows that the weight of the product and fee do not match whereas the zone matches and hence the amount is undercharged in this case compared to the expected amount.
Zone Mismatch, Weight Mismatch – Overcharged
The software here compares the ERP report and the DX Express report and shows that the zone, fee and the weight of the product do not match. Hence the amount charged is higher than the calculated amount in this case and so it is overcharged.
Zone Mismatch, Weight Mismatch – Undercharged
In this case, the software compares the ERP report and the DX express invoice report and shows that the zone, fee and the weight of the product do not match. Hence the amount charged is lesser than the calculated amount in this case and so it is undercharged.
In conclusion, the software reconciles all these reports and makes the reconciliation process easier. The software being automated helps in the results being error-free and also in saving manual efforts. With our software in action, data loading and processing becomes seamless, offering you a concise overview of all the transactional activities. Use Cointab and make your entire reconciliation process quicker, error-free and more accurate.
