Global-e & Shopify Reconciliation

What is Global-e & Shopify?

Global-e is the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border ecommerce. Through their comprehensive end-to-end solutions that combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast cross-border experience, they enable retailers and brands to increase international traffic conversion and sales and achieve significant global online growth.

Shopify is a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. Shopify offers a complete commerce platform that lets users start, grow, and manage a business.

What is Order-to-Cash Reconciliation?

Also  referred to as cash application, it’s the process of matching customer orders  and refunds to a payment, and ultimately to a payout in the bank account.  This ensures that the data used to book key financial metrics can be  accurately traced to a cash conclusion.

Blue Onion & Global-e Reconciliation Overview

Use  Blue Onion with Global-e and Shopify to eliminate the manual and repetitive  process of matching each order to a payout and booking payment processor  fees. Blue Onion leverages proprietary algorithms to automatically match each  cash sale to a bank settlement, creating an order audit trail and automating  the order-to-cash reconciliation process for each transaction.

How Does It Work?

How does Blue Onion reconcile Global-e and Shopify transactions?

Blue Onion connects to a company’s order system, payment processors, and bank account. The software algorithmically traces and matches each order to a payment and ultimately to a payout in the bank account. By connecting all the source data, Blue Onion is able to provide detail into the refund transactions and can trace them back to the original order date. With Blue Onion you can easily accrue for refund transactions. You are able to see the average time between the order and refund dates along with the average amount as a percentage of sales.

What Information Will Blue Onion Be Able to Provide Me?

What information will Blue Onion be able to provide me?
Blue Onion matches each order to a payment and to a payout in the bank account. The software creates an audit trail from point of sale through to the bank account, including payment processing fees, refunds, and chargebacks.

Does Blue Onion connect with other tech stacks related to our workflow?
Blue Onion offers connections with popular order systems, payment processors, other return and gift card services, and accounting systems.

What Are Some Top Challenges Experienced by Merchants When Reconciling with Global-e?

  • Limited visibility into cash-in-transit and how an order translates to a cash payout.
  • Significant accounting complexity with foreign currency transactions, connected subscription or return services, and loyalty programs that can be difficult to trace and reconcile.
  • Multiple payment processors can exponentially increase the time to manually reconcile transactions and investigate discrepancies.

TOP BENEFITS

Eliminate manual and time-consuming work with Blue Onion’s automated Shopify reconciliation

Blue Onion automatically connects and pulls order and payment data directly from your technology stack, including Global-e and Shopify. All of your transactions are processed, cleaned, and reconciled to a payout in the bank account.

Create a single source of truth for order and payment data

Blue Onion brings financial data from your order system, Stripe account, and bank account together. This provides reconciliation and audit trails for each transaction across multiple systems.

Reliable and timely data and anomaly detection

Blue Onion’s reconciliation algorithm provides clean financial data and flags when transactions cannot be reconciled, allowing teams to address issues quickly.

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