Advantages Of Maintaining a Shipping Passbook
Maintaining finances when you run an eCommerce business is one of the most challenging tasks because it requires you to have each expense on your fingertips. eCommerce shipping is one area which requires constant monitoring and record keeping to ensure that you are not overspending. Considering the negotiations and reconciliations that go on with courier companies, it is necessary you maintain a record in the form of a passbook that you can refer to whenever a confusion arises. Let’s see how this step will be beneficial for you!
What is a shipping passbook?
What comes to your mind when you think of a passbook? A record of all your transactions? A shipping passbook is just that. A shipping passbook contains a record of all your transactions processed towards shipping, as compared to a regular bank passbook. This includes the amount spent on each shipment, the amount released from any disputed order, and other related information.
A shipping passbook is your saviour if you struggle with managing your spends. It is also beneficial when you need to forecast any future trends based on this information.
Why does your business need a shipping passbook?
A shipping passbook has many advantages for your eCommerce business. It helps you keep a record of all the shipping transactions you have done for your shipments. Here are a few ways in which a shipping passbook can benefit your business:
With a shipping passbook, you get an idea of the amount which has been kept on hold or released. Also, it gives you an insight into how you have been sending and where you need to save. Furthermore, in case of any dispute, you can refer back to your shipping passbook to review your expenses and come to a conclusion.
Predict future trends
With a shipping passbook, you get a written record of how your chosen courier partners are performing. With rich information like this, you can work on your strategy to select the right courier partner based on their COD charges, reconciliation, RTO charges, etc.
With knowledge of the shipping credits that are available for use, you can appropriately plan for future shipments and be clear about when you want to process them. It makes you aware of your expenses and helps you in taking critical decisions like keeping orders on hold, processing bulk shipments, etc.
With a transparent record and precise information, you can easily challenge any claim made by the courier partner.
What is included in Shiprocket’s shipping passbook?
Shiprocket’s Passbook contains all relevant information that is useful for your business’ expenses.
It contains your available balance, balance on hold, and the total balance that your account has. You can also see all recent transactions you have done from your account.
Also, you can filter your passbook on the following categories to see where exactly you spent your shipping credits. The types include:
- Freight charge
- Freight charge reversed
- Excess weight charge
- RTO freight charge
- RTO freight charge reversed
- SR credit
- COD charge
- COD charge reversed
- Lost credit
- RTO excess freight charge
- Damaged credit
- RTO excess freight reversed
You can also filter your shipments based on a particular period of days and also search for any specific delivery using the AWB number.
Keeping a shipping passbook can help you save and also plan for your business. It can help you save an ample amount of time as well. Therefore, choose a suitable shipping partner like Shiprocket that provides you with these features easily, without any additional charges or conditions! Ship wise to ship wide.