Reconciliation of On Trac Shipping Invoice With Cointab
Reconciliation of On Trac Shipping Invoice With Cointab
OnTrac Invoice Verification Made Easy
Managing millions of daily OnTrac deliveries can be a challenge, especially when ensuring accurate fee verification. Manual processes are slow and prone to errors, potentially costing your US business money through overcharges.
Cointab: Your Solution for Effortless OnTrac Invoice Verification
Cointab’s automated software streamlines the entire process, saving you time and money. Here’s how:
Automated Reconciliation: Cointab seamlessly integrates with your existing data, automatically comparing:
Discrepancy Detection:
Our software meticulously verifies OnTrac charges, identifying any inconsistencies to ensure you’re only paying the correct amount.
Effortless Integration:
Cointab integrates seamlessly with your existing systems, enabling effortless reconciliation for all mentioned reports.
Benefits of Cointab for OnTrac Invoice Verification:
Recover potential financial losses due to OnTrac billing errors.
Free up your finance team’s time with automated invoice verification.
Eliminate errors and discrepancies with automated calculations and clear data visibility.
Enjoy hassle-free fee verification for high-volume OnTrac deliveries.
Required Reports Explained:
This section (optional) can be included on a separate landing page to provide more detailed information about the reports involved. Briefly explain the purpose of each report (Pincode Zone, SKU, Rate Card, OnTrac Invoice) and its role in the verification process.
SKU Report
Cointab (or your chosen method) ensures accurate weight consideration during OnTrac invoice verification by utilizing data from various sources:
The SKU number within your ERP system often reflects the product’s weight. Cointab prioritizes this data for weight determination.
If the ERP report lacks weight information, Cointab extracts the weight directly from the corresponding field in the OnTrac invoice.
For products with specified dimensions (length, width, height) listed in the ERP report, Cointab calculates the volumetric weight using the formula: Length (cm) x Width (cm) x Height (cm). This volumetric weight is then used for fee calculations if applicable based on your OnTrac rate card.
The divisor, sometimes found on your rate card, is used to convert volumetric weight into a billable weight. Cointab utilizes the divisor provided in the rate card (typically 5,000 if not specified).
After weight determination (actual or volumetric), Cointab integrates the value into both your ERP reports and the OnTrac invoice for comprehensive verification.
Cointab employs a rounding function to establish the final weight tier for accurate fee assessment based on your OnTrac rate card.
Pincode master
OnTrac utilizes a zonal pricing system to determine shipping costs on your invoices. This system assigns specific zones (identified by letters like a, b, c) based on the origin (departure) and destination (delivery) locations for each shipment.
Understanding OnTrac’s zonal system during invoice verification empowers you to:
Ensure the zone applied on your invoice aligns with the actual origin and destination points.
Gain insights into potential shipping costs for future deliveries based on zones.
Inconsistencies between the invoice zone and the actual origin-destination combination might indicate billing errors.
If you use Cointab for invoice verification, our software automatically retrieves zone information from your OnTrac invoices and verifies its accuracy against your shipment data, streamlining the process and flagging any potential zone-related discrepancies.
Rate card:
OnTrac rate cards are essential documents for verifying your invoices. These cards outline shipping fees based on two key factors:
OnTrac typically charges higher fees for heavier shipments. Rate cards specify pricing tiers based on weight ranges (acceptable limits).
OnTrac leverages a zonal pricing system. The rate card assigns specific rates based on the origin (departure) and destination (delivery) zones for each shipment (explained previously).
During invoice verification, Cointab (or your chosen method) can compare the following details between the rate card and your OnTrac invoice:
Ensures the correct courier service is applied (e.g., standard, express).
Confirms the zone assigned on the invoice matches the actual origin and destination locations.
Verifies the weight tier used for calculating charges falls within the acceptable limits outlined in the rate card.
Checks if the divisor used for potential volumetric weight calculations aligns with the rate card specifications (typically 5,000 if not provided).
It’s important to note that the rates listed on your OnTrac invoice might have a validity period. Ensure your delivery dates fall within the timeframe for which the listed rates are applicable.
Charges
OnTrac typically charges shipping fees based on a shipment’s weight.
Forward charges are determined by the weight tier (slab) of your shipment as specified in the OnTrac rate card.
If the final weight falls within or below the “fwd_wt_fixed” limit on the rate card, a “fwd_fixed” charge applies based on the corresponding zone.
If the weight exceeds the “fwd_wt_fixed” limit, an “extra weight” fee is calculated using the “fwd_add” rate per zone for the exceeding weight.
Expected Forward Charge Formula:
Expected_fwd_chg = fwd_fixed + (extra_weight) x fwd_add
Applicable for Undelivered Packages:
RTO charges apply when a shipment cannot be delivered and is returned to the sender.
Similar to forward charges, RTO fees are determined by the weight tier (slab) of the returned shipment as per the rate card.
Fixed vs. Additional Weight:
If the weight falls within or below the “rto_wt_fixed” limit on the rate card, an “rto_fixed” charge applies based on the corresponding zone.
If the weight exceeds the “rto_wt_fixed” limit, an “extra weight” fee is calculated using the “rto_add” rate per zone for the exceeding weight.
Expected RTO Charge Formula:
Expected_rto_chg = rto_fixed + (extra_weight) x rto_add
The final amount on your OnTrac invoice typically combines the expected forward charges, RTO charges (if applicable), and any applicable tax percentage.
RESULT
Verifying OnTrac invoices involves a meticulous comparison of various data points. Here’s how Cointab (or your chosen method) accomplishes this:
Cointab (optional) seamlessly integrates with your existing systems and automatically reconciles data from:
ERP Reports (e.g., order details, weight, dimensions)
Pincode Master (zonal information)
Rate Card (shipping fees based on weight and zone)
Through this comprehensive data reconciliation, Cointab calculates the expected fees for your OnTrac shipments.
Cointab then compares these expected fees with the charges listed on your actual OnTrac invoice. This comparison identifies any discrepancies and ensures you’re paying the correct amount.
During OnTrac invoice verification, ensuring matching order entries across your Enterprise Resource Planning (ERP) system and the invoice is critical. Here’s what it signifies:
When order entries appear in both your ERP reports and the OnTrac invoice, verification becomes more streamlined. Cointab (or your chosen method) can efficiently cross-check data for accuracy.
Order entries missing from your ERP reports but present on the OnTrac invoice require further investigation. Cointab (optional) can flag these discrepancies for your review. Potential reasons might include:
Missing entries within the ERP system.
Data entry errors in either the ERP or invoice.
Every delivery is made zone-wise and the accurate zone is present in the Pincode master, in order for the reports to be verified the order entries need to be present in the OnTrac invoice as well as the Pincode master and in this case it matches.
In this case, the order entries are present only in the OnTrac invoice and not found in the Pincode master and hence it can not be verified.
OnTrac invoice verification involves ensuring the services listed on the invoice align with your chosen options and pricing structure. Cointab (or your chosen method) plays a key role in this process:
When order entries appear in both your OnTrac invoice and the rate card, it signifies that the chosen services are valid options offered by OnTrac. Cointab (optional) can verify this match for seamless processing.
Order entries missing from the rate card but present on the OnTrac invoice require further investigation. Cointab (optional) can flag these discrepancies for your review. Potential explanations include:
Negotiated service options outside the standard rate card may not be reflected.
In rare instances, the invoice might reference services not offered by OnTrac.
Prevents Overcharges:
Identifies services potentially charged outside your agreed-upon rates.
Ensures Service Availability:
Confirms chosen services are valid options within OnTrac’s offerings.
Promotes Transparency:
Provides clarity on the services you’re paying for.
Fee verification using ERP- OnTrac
Cointab (or your chosen method) simplifies OnTrac invoice verification by analyzing various data points and identifying potential discrepancies. Here’s a breakdown of common verification outcomes:
Description: The weight, zone, and applied fee on the invoice perfectly align with the details in your ERP report and OnTrac’s rate card.
This signifies a mismatch where the weight and zone are consistent between your ERP report and the invoice, but the charged fee exceeds the expected amount based on the rate card. Cointab flags this discrepancy for further investigation.
The zone on the invoice doesn’t match your ERP report, and the charged fee is higher than anticipated. This could be due to a zoning error or a custom service not reflected in the standard rate card.
While the zones match, the weight on the invoice differs from your ERP record, and the applied fee is higher than expected. This might indicate a data entry error or a weight discrepancy in OnTrac’s favor.
All three data points (zone, weight, fee) on the invoice deviate from your ERP report and the rate card, potentially resulting in an overcharge by OnTrac.
Although the zone and weight are consistent, the charged fee is lower than expected based on the rate card and ERP data. This could be a billing error by OnTrac.
A zone mismatch occurs, but the charged fee is lower than anticipated. This could be due to a billing error by OnTrac or a promotional rate not reflected in the standard rate card.
The zones align, but the weight on the invoice differs from your ERP record, and the applied fee is lower than expected. This could be a data entry error or a weight discrepancy in your favor.
A discrepancy exists in all three data points (zone, weight, fee) compared to your ERP report and the rate card, potentially resulting in an undercharge by OnTrac.
Don’t let manual invoice processing slow you down or cost your US business money. Cointab’s automated software streamlines the entire OnTrac invoice verification process, delivering:
Eliminate manual data entry and error-prone calculations. Cointab seamlessly integrates with your existing systems for effortless reconciliation of ERP reports, shipping invoices, and rate cards.
Reduce the risk of human error with automated calculations and clear data visibility. Cointab flags discrepancies for your review, ensuring you pay only the correct amount.
Identify potential OnTrac overcharges promptly. Cointab’s clear identification of inconsistencies allows you to raise disputes quickly and recover any financial losses.
Automate invoice verification and focus your finance team on higher-level tasks.
Enjoy a comprehensive overview of all your OnTrac transactions for informed decision-making.
Recover potential overcharges and optimize your OnTrac billing.
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Take control of your OnTrac invoice verification with Cointab