Marketplace Reconciliation for NetSuite
Key Benefits
 | Reconcile multiple marketplace channels (Amazon, Shopify, Walmart, etc) to maximize sales and grow your business. |
| | Automate lengthy processing at the end of the month (no more spreadsheets). |
| | Have a trace of the settlement file in NetSuite. |
| | Allows you to have KPI’s on metrics important for you business. |
Increase your product sales and maximize your marketplace channels
If you’re looking to increase sales for your business across many marketplace channels, provide the best possible customer experience and streamline your e-commerce processes, this is the right solution for your company.
Marketplace Reconciliation for NetSuite is a custom solution for e-commerce businesses that need to reconcile Settlements with their associated transactions, add any outstanding fees, and associate them to the correct Gl account in order to fully pay and close the transactions. If you’re selling through multiple channels (like Amazon, Walmart, Shopify, Sears, eBay, Newegg, Rakuten), those orders flow through NetSuite.
With this solution, you can:
- Automatically link settlement lines with transactions
- Update the transactions with proper fees
- And automatically create payments if necessary and link them to the transaction and settlement
- Speed up manual processes so you can focus on the 1% of the issues and determine what needs to change in the process to address those issues
- Use KPI’s for marketplace accuracy and to handle marketplace settlement delays (how long it took to be settled)
Is This the Right Solution for Me?
Our powerful Marketplace Reconciliation Solution for NetSuite Users is geared towards helping Retail and Wholesale Businesses that:
- Sell goods on any online marketplace where you record sales as they happen and need to reconcile against actuals at a later date
- Need to record extra fees not available or accurate at the time of sale (ex; FBA, FBM)
- Have to reconcile against your bank statement
- Have a large portion of their sales that comes from selling on online marketplaces
- An Amazon Prime seller
- Need to calculate profit margins or other marketplace specific KPI’s in NetSuite
- Sell on a few marketplaces with high volume of transactions, or sell on a high amount of marketplaces
How Can it Help My Business?
During the course of the month in most retail businesses that handle online (e-commerce) sales, it’s almost certain that you’re using one or many marketplace channels for your stock. If your business is on NetSuite, that means that all those orders flow through your ERP system. Then, at the end of a given month, you receive a settlement file from your marketplace and need to reconcile this statement against your existing NetSuite transactions. Sound familiar so far?
Here are some of the common issues that arise at this point:
- There can be a number of discrepancies in the amounts due to extra fees (ex: fba fees, gift wrapping fees, etc).
- It can be difficult to process returns.
- Adjustments and transfers are not being handled, and this is typically a labor intensive process.
Overall, it is very hard to get an accurate value of costs until the marketplace actually sells the goods and provides you with actuals at the end of the month. You want to be able to track transactions from the customer order on the marketplace, all the way to the settled order in NetSuite
