Yodel, a leading UK courier company known for its extensive B2B and B2C delivery network, processes a high volume of invoices daily. Manually verifying these invoices for accuracy can be time-consuming and prone to errors, especially with complex pricing structures based on weight, zone, and other factors.
Cointab simplifies Yodel invoice verification by automating the entire process, ensuring faster processing and improved accuracy. Here’s how:
Cointab seamlessly integrates with your existing systems (ERP, SKU reports, rate card) to eliminate manual data entry.
Our software verifies invoice details like weight, delivery location (using Pincode zone report), and applied charges against your agreed-upon Yodel rate card. This minimizes errors and prevents overcharges or undercharges.
Cointab automates Yodel invoice verification tasks, freeing your finance team to focus on more strategic initiatives.
Gain a comprehensive overview of all Yodel transactions with Cointab’s easy-to-understand reports.
Cointab simplifies Yodel invoice verification by automating weight determination, ensuring accurate pricing and efficient processing. Let’s explore how:
Cointab prioritizes weight data from your ERP report. SKU numbers often encode product dimensions, allowing for automatic weight retrieval.
If the ERP report lacks weight information, Cointab seamlessly switches to the invoice’s “expected weight” column for accurate data capture.
For products with dimensions present in the ERP report, Cointab employs the industry-standard formula: Length x Width x Height (in centimeters) to calculate volumetric weight.
The calculated volumetric weight is then divided by the divisor specified in your Yodel rate card. If a divisor is not provided, a standard divisor of 5,000 is applied. This ensures consistent weight classification for accurate pricing.
Finally, the verified weight (actual or volumetric) is automatically updated in both the ERP report and the Yodel invoice, eliminating manual data entry and potential errors.
Cointab streamlines Yodel invoice verification by automating zone matching, a crucial factor for accurate pricing based on delivery location. Here’s how it works:
Cointab utilizes billing codes from your Yodel invoices to identify the corresponding zone (local, regional, global, etc.) within your Pincode Master data. This zone assignment is essential for applying the correct rates as per your Yodel rate card.
The Pincode Master categorizes delivery locations into distinct zones (e.g., local, regional, global). Each zone has a unique identifier (a, b, c, etc.) for easy reference within reports and efficient invoice processing.
Our rate card delineates pricing based on delivery zones and product weights, ensuring transparency and accuracy. Please note that rates may vary with increased product weights, as indicated within the specified permissible limits. To ensure invoice accuracy, our system cross-references key columns such as ‘courier,’ ‘zone,’ ‘fwd_wt_fixed’ (representing additional weight for fixed rate increase), and ‘divisor’ against the corresponding fields in Yodel invoices.
Furthermore, it’s essential to adhere to the stipulated validity period for these rates, as outlined in our policies. We diligently verify delivery dates to ensure they fall within the designated timeframe, maintaining consistency and reliability in our services.
Cointab simplifies Yodel invoice verification by automating calculations for various charges, ensuring accurate billing. Here’s a breakdown:
fwd_wt_fixed: This weight limit from the rate card determines the applicable Forward Charge.
fwd_a_fixed (or fwd_fixed): This fixed charge applies if the final weight slab falls at or below the fwd_wt_fixed limit.
fwd_a_add: This per-unit charge applies to any weight exceeding the fwd_wt_fixed limit. (“a” might vary depending on your rate card)
Expected Forward Charge Formula: Expected_fwd_chg = fwd_a_fixed + (extra_weight) x fwd_a_add
rto_wt_fixed: Similar to fwd_wt_fixed, this weight limit dictates the RTO charge.
rto_fixed: This fixed charge applies if the final weight falls at or below the rto_wt_fixed limit.
rto_add: This per-unit charge applies to any weight exceeding the rto_wt_fixed limit.
Expected RTO Charge Formula: Expected_rto_chg = rto_fixed + (extra_weight) x rto_add
Cointab compares two options and selects the higher value for the expected COD charge:
cod_fixed: This fixed charge is retrieved from the rate card.
cod_rate (% of Order Value): This percentage of the order value is calculated.
The final invoice amount is calculated by summing:
Expected Forward Charge
Expected RTO Charge
Expected COD Charge
GST % (Goods and Services Tax)
Yodel processes a high volume of invoices, and ensuring accurate billing can be a challenge. Manual verification is time-consuming and prone to errors. Cointab streamlines Yodel invoice verification by automating a comprehensive data matching process across various sources, leading to faster processing, improved accuracy, and optimized costs.
Here’s how Cointab empowers Yodel to achieve efficient invoice management:
Cointab meticulously compares invoice details like order specifics (product, quantity) with corresponding entries in your ERP system. This ensures consistency across data sources and minimizes errors.
Zone assignment plays a crucial role in accurate Yodel pricing. Cointab utilizes your Pincode report to verify the accuracy of zone assignment based on origin and destination pincodes. This guarantees correct pricing based on zone-specific rates in your Yodel agreement.
Cointab integrates seamlessly with your Yodel rate card. The software meticulously compares invoice charges with the agreed-upon rates. This identifies potential discrepancies and prevents overcharges, ensuring cost optimization for Yodel.
Cointab streamlines Yodel invoice verification by automating order verification, ensuring accurate shipment tracking and billing. Here’s a breakdown:
Cointab compares order details on the invoice with corresponding entries in your ERP report. This verifies order existence and facilitates accurate weight association based on ERP data.
If a perfect match is found, the order is verified, and the invoice processing proceeds smoothly.
In case an order appears only on the Yodel invoice and not in the ERP report, the software flags it for further investigation. This helps identify potential missing order entries or data inconsistencies, preventing inaccurate weight assignments and billing errors.
Cointab simplifies Yodel invoice verification by automating zone verification, ensuring accurate pricing and efficient delivery routing. Here’s how:
Cointab leverages your Pincode Master data, which defines delivery zones (regional, local, global, etc.) based on pincodes.
If the invoice’s delivery pincode and zone match the corresponding entry in the Pincode Master, the zone is verified. This ensures accurate pricing application based on your agreed-upon Yodel rate card.
Unidentified Pincodes: In scenarios where the invoice’s delivery pincode is absent from the Pincode Master, the software flags it for further investigation. This helps identify potential delivery exceptions and route shipments efficiently.
Cointab streamlines Yodel invoice verification by automating rate verification, ensuring accurate billing and adherence to agreed-upon pricing. Here’s how:
Cointab seamlessly integrates with your Yodel rate card, which outlines the applicable charges based on weight, zone, and other factors.
If the invoice’s order details are found within the rate card, the software verifies the applied rates. This ensures consistency with your pre-negotiated pricing structure and eliminates potential billing errors.
Identifying Rate
In case an invoice item is absent from the rate card, Cointab flags it for further investigation. This helps identify potential pricing errors or missing rate agreements with Yodel.
Cointab empowers Yodel to achieve faster invoice processing and accurate billing through automated discrepancy detection. Here’s how our software identifies potential issues:
The invoice perfectly aligns with the ERP report (order details, weight, zone) and the rate card, ensuring accurate pricing based on your agreement with Yodel.
Zone & Weight Matching
The invoice reflects the correct zone and weight, but the applied charge exceeds the expected amount based on the rate card. This indicates a potential pricing error.
The invoice reflects the correct zone and weight, but the applied charge is lower than expected. This could signify a missed charge or a rate discrepancy.
Zone Mismatch
The invoice weight matches the ERP report, but the zone and applied charge differ. This suggests a potential zone misclassification, leading to an overcharge.
The invoice weight matches the ERP report, but the zone and applied charge differ. This might indicate an incorrect zone assignment, resulting in an undercharge.
Weight Mismatch
The invoice zone aligns with the Pincode master, but the weight and applied charge differ from the ERP report. This suggests a weight discrepancy, leading to a potential overcharge.
The invoice zone aligns with the Pincode master, but the weight and applied charge differ from the ERP report. This might indicate an incorrect weight on the invoice, resulting in an undercharge.
Combined Mismatch
All three elements (zone, weight, and charge) differ between the invoice and the corresponding data sources. This necessitates further investigation to determine the cause of the discrepancy.
Cointab simplifies Yodel invoice reconciliation, empowering finance professionals to focus on strategic initiatives. By automating complex calculations and data verification, Cointab streamlines the Yodel fee verification process, saving valuable time and resources.
Cointab ensures data accuracy and reliability throughout the Yodel invoice reconciliation process. This translates to high-quality financial data that fuels informed business decisions, allowing you to optimize Yodel deliveries and billing for greater profitability.
Cointab goes beyond basic automation. Our advanced features, including multi-source data matching, automated discrepancy detection, and seamless rate card integration, empower businesses to achieve unparalleled efficiency in Yodel invoice reconciliation.
Cointab is not just software; it’s an invaluable tool for businesses looking to optimize their Yodel reconciliation process. By minimizing errors, improving accuracy, and streamlining workflows, Cointab empowers businesses to achieve faster processing times, reduced costs, and a more robust Yodel invoicing system.
Make the switch to Cointab and experience the power of automated Yodel invoice reconciliation.