Jabong.

com MARKETPLACE Process: Invoice receiving to payment

Serial No.
1 2 3 4 5 6 7

Particulars
MP2P_1.0_Vendor Creation MP2P_2.0_ Purchase Order creation MP2P_3.0_Shipment receiving MP2P_4.0_QC to Packaging MP2P_5.0_Shipping Label and Manifest Creation MP2P_6.0_Payment Reconciliation and Purchase Booking MP2P_7.0_ Payment

Reconciliation
1. Receipt of invoices The finance department receives the hard copy of invoices (along with Debit Note, if any) from Market Place Operations Team and checks the following details in the invoice: a) b) c) d) e) f) g) h) i) j) k) Invoice number and Invoice date Full name and address of the vendor and his TIN Full name and address of Jade eServices Pvt. Ltd. and its TIN PO No. against which invoice is created Jabong code, vendor style code and description of the items Quantity of items Rate (exclusive of taxes), Tax rate applicable, tax amount levied, and total amount(inclusive of taxes) for every item type Tax to be mentioned separately in the end In case multiple tax rates are applicable, separate invoices to be raised for respective tax rate items Signature of the selling dealer/consignor or his authorized signatory One invoice should not be billed against more than one PO

2. Fetching Vendor-wise data and examining it A consolidated Inbound Tracker is shared by the warehouse team with the Operations and Finance team at the end of every day. The warehouse managers are responsible for creation and maintenance of Inbound Tracker. The reconciliation team fetches vendor-wise invoice entry details from the inbound tracker prepared at the time of receipt of invoices. The details regarding Vendor and invoice (Vendor name, Invoice no., PO no., Invoice quantity, Invoice Amount, Invoice Date and tax amount) are manually entered by the Market Place Operations team in the Inbound Tracker. These details are captured from the hard copies of vendor invoice(s). The details regarding PO and GRN are downloaded from Uni-commerce by the Finance team. The details from PO-GRN sheet are compared with the Inbound Tracker and checked for difference in GRN and Invoice amount. The entries in the document sent by the Market place team is then compared with the details mentioned in the hard copies of invoices sent by the Market Place team. Two cases arise: Case 1: Value difference/Invoice missing If the details mentioned in the Inbound Tracker dont match with those in invoice (hard copy), the same is informed to the Market place operation team by the finance team. The operation team corrects the details and sends it back to the finance team. In case of non-entry of invoice details, the same procedure is followed. After all corrections have been made, Step 3 is followed. Case 2: Details match If all the details mentioned in invoice data match with the details in hard copies of the invoices, proceed to reconciliation.

3. Invoice-GRN wise reconciliation against each vendor Invoices are reconciled against the GRN done..

4. Bulk Upload in Navision The finance team uploads the data regarding invoices , debit notes (as to QC rejections, Customers return, price difference) vendor wise in the specified template from the Excel sheet maintained by the Accounts team in Navision dimension wise (Maker- Accounts Sr. Executive), after the completion of the reconciliation of all the vendors. The dimensions are entered manually as per tax applicable by the finance department.

Releasing Payments
Email sent to Payment Releasing team The Market Place finance coordinator mails the Payment department (Sr. ExecutiveAccounts) with the following details: (a) An excel sheet containing purchase details against the vendors during the month (b) In e-mail body, mentioning Party (Vendor) name, Amount payable to the vendor, Month of the Payment and NEFT/RTGS details,. Verification of ledger balances The Payment processing team checks the vendor balance in Navision. In case, vendor balance is less than the amount requested to be paid to vendor in the email, payment is not processed and the coordinator is informed about the same.

Preparation of cheque The Sr. Executive- Accounts prepares the cheque with an advice to Bank to process NEFT/RTGS transaction. NEFT/ RTGS transactions are based on the following format: Amount 2,00,000 INR > 2,00,000 INR NEFT/RTGS NEFT RTGS

Submission of cheque with supporting documents to MD Cheque (all details filled) along with NEFT/ RTGS Form, Payment Voucher, e-mail having Market place-Operation Heads approval is sent to the MD by the finance payment processing team. Signing from MD MD signs the cheque along with NEFT/RTGS transfer form. The payment is released.

5. Reconciliation mailed to vendor for any difference or query from the vendor. The reconciliation working sheet according to which the payment is made is then mailed to the vendor, for him to tally to his own ledger. In case there is any mismatch or difference the finance team scrutinizes the issue viz. non entry of any invoice, goods return, price difference and resolves it thereby adding the missing amount to the next months payment. The process of communication and transfer of data between the vendor and the finance department, is done by the coordinator from finance team who also mitigates the differences. 6. Receipt of new invoices In case an invoice(s) is missing/ invoice(s) is wrong, new invoice(s) is received with corrections from vendor(s) concerned. The sheet needs to be uploaded in a specific format as shown below:

For uploading the above file in Navision, the following steps are taken:

Go to Financial Management (1)

General Ledger (2)

Journal Voucher (3)

Select Batch Name (4)

Functions (5)

Select Import Mkt Transactions (6)

The step by step process is further marked in the image shown below:

After selecting the Import Mkt Transactions option, a new page appears which allows the user to select a file to be uploaded. The steps are:

Go to Options tab (7)

Browse (8)

Select file (9)

Open (10)

Import (11)

Select OK (12)

Press Shift+ F11 keys

Entry gets posted in Navision & printed

The steps are marked on the image:

7 . 11

8 .

9 .

10

12

Hence, Payment Voucher gets created.