Amazon deposits can be difficult to reconcile in NetSuite because there aren’t easy ways to match up the transactions in the Amazon file with the orders in NetSuite. Manually trying to match up orders is time-consuming and error-prone. To alleviate the manual effort, increase productivity, and improve accuracy, an automated solution is required. Fourth Wave Consulting customers were struggling with the manual process of reconciling Amazon deposits, so we developed a custom solution to help.
BatchIt is the custom solution Fourth Wave Consulting developed. This process records the payments and credit refunds within NetSuite, as well as provides a quick way to select the applicable transactions in one deposit. The process also provides a summary of all the other charges so a cashback entry can be recorded on the same deposit the transactions were selected on. Once everything is recorded this one deposit will match perfectly to the Amazon deposit line on your bank statement, making bank reconciliation a breeze.
Clients have reported time savings of 3-5 hours on average batch sizes of 70 orders – every 2 weeks. Using BatchIt, a reconciliation from start to deposit creation generally takes less than twenty minutes. Not only does it take less time but because it is automated, the correct orders get matched up every time. The process also provides a list of exceptions that help identify if an order within NetSuite was created incorrectly or if Amazon is withholding additional funds unexpectedly.
This solution uses searches, custom records, custom fields, and NetSuite standard functionality to perform the required processes. Below is the basic process flow that BatchIt uses.
This solution can be customized to your specific requirements whether that be recording payments against open invoices or updating cash sales with a batch id to allow selecting them in a deposit via a filter field. If you are struggling with reconciling Amazon deposits (or other marketplaces), contact us, we will be glad to assist with automating this task so you can get back to your more important responsibilities like growing the business.
Note this solution can also be adapted to other types of batch payments such as credit card batches, Walmart Marketplace batches, etc. It provides a good option for batch sizes of 30-800 orders biweekly.
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