Vamaship offers a comprehensive logistics solution designed to streamline operations and empower growth for e-commerce businesses. Their competitive rates for both surface and air freight cater to both domestic and international markets, ensuring cost-effective shipping. A dedicated 24/7 customer service team guarantees a smooth experience, providing prompt assistance whenever needed. Vamaship equips you with valuable tools like real-time tracking, comprehensive documentation, and insightful analytics, offering complete shipment visibility, delivery progress monitoring, and performance metric analysis – all within a centralized platform. This allows growing e-commerce businesses to focus on core operations, leaving the complexities of shipping and delivery to the experts, for a smoother path to success.
While Vamaship streamlines product delivery for e-commerce businesses, managing COD payments can be a concern. As the final point of contact for customers, Vamaship collects COD payments on your behalf, introducing a third-party element to your financial transactions. Unreviewed COD payments pose a significant risk. Unidentified discrepancies can lead to lost revenue, potentially impacting your bottom line significantly.
Cointab’s Automated COD Reconciliation: Your Solution
Cointab’s automated reconciliation system eliminates this risk. By comparing your Order Management System (OMS) report with Vamaship’s COD remittance report, Cointab verifies if the collected COD amount is accurate.
The software utilizes advanced algorithms to perform the necessary calculations. Results are presented in clear reports, highlighting any discrepancies – whether underpayments or overpayments – ensuring you receive the correct amount for each COD order.
Essential Reports for Streamlining Ecom Express COD Verification:
Order Management System (OMS) Report:
This report serves as your central hub for all order details placed on your company’s website. It provides crucial information for COD verification, including:
Order ID: A unique identifier for each order.
Order Amount: The total amount payable by the customer.
Payment Type:
Whether the customer opted for online payment (Payment Gateway or PG) or Cash on Delivery (COD).
COD Remittance Report: This report, supplied by Ecom Express, specifically focuses on COD payments collected. It details:
Order ID: Allowing you to match the order with its corresponding entry in the OMS report.
COD Payment Collection: The exact amount collected as COD payment for each order.
Vamaship COD Amount Verification Process
Cointab streamlines the verification process for Cash on Delivery (COD) payments collected by Vamaship, ensuring you receive the correct amount for each order. Here’s how it works:
Automated Report Comparison:
Cointab initiates the process by automatically comparing two key reports:
- Order Management System (OMS) Report: This report, generated by your e-commerce platform, details all orders placed on your website, including the order ID, order amount, and chosen payment type (COD or online payment).
- Vamaship COD Remittance Report: This report, provided by Vamaship, specifically focuses on COD payments collected. It details the order ID and the exact amount collected for each COD order.
Clear and Actionable Results:
Cointab takes the data from both reports and performs the necessary calculations. The results are then presented in a clear and actionable format, highlighting any discrepancies in your COD payments:
- Reconciled with COD Partners: This signifies that the order amounts in both reports match, indicating accurate COD collection for these orders.
- Less Payment Received from COD Partners: Here, the amount collected by Vamaship (as reflected in the COD remittance report) is lower than the order amount in your OMS report. This might indicate missing collections or discrepancies that require further investigation with Vamaship.
- More Payment Received from COD Partners: This scenario highlights instances where the amount collected by Vamaship exceeds the expected order amount in your OMS report. This could be due to reasons like returned orders or additional COD charges not reflected in your initial order amount. Cointab recommends reviewing these cases for clarification.
- No Payment Received from COD Partners: If an order appears in your OMS report but is missing from the Vamaship COD remittance report, Cointab flags this discrepancy. This could indicate an uncollected COD payment or a reporting error. Cointab recommends investigating these cases with Vamaship to ensure proper reconciliation.
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Ensure Effortless COD verification with Coinatab
Cointab’s automated COD verification system empowers your finance team to streamline Vamaship COD management in one comprehensive solution. Cointab eliminates time-consuming manual comparisons by automating the verification process, freeing up valuable resources for your finance team. Easy-to-understand reports provide clear and actionable insights, highlighting discrepancies (uncollected payments, underpayments) that require follow-up with Vamaship. This enhanced transparency minimizes the risk of errors and ensures you receive the correct amount for each COD order.
Start reconciling with Cointab today!
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