Tired of Manual Reconciliation Headaches?
TikTok has rapidly evolved into a major e-commerce channel, driving significant revenue for brands and retailers. However, behind the scenes, managing TikTok payouts within NetSuite has been anything but smooth.
Many businesses struggle with:
- Manually importing TikTok fees, payments, and refunds into NetSuite.
- Raising disputes for unprocessed amounts with TikTok.
- Reconciling transactions against orders and refunds.
- Moving funds within NetSuite’s deposit records to reflect bank transactions.
These manual processes are not only time-consuming but also prone to errors, leading to financial discrepancies and a lack of visibility into net margins.
We’ve Been There—And We Get It
Reconciling TikTok payouts manually is a frustrating and resource-intensive process. The need to track down missing payments, match transactions with NetSuite records, and ensure every dollar is accounted for places a heavy burden on finance teams. As transaction volumes increase, the complexity of reconciliation only grows, making it harder to maintain accuracy and efficiency.
Why You Can’t Afford to Ignore the Problem
Ignoring the issue of manual reconciliation can have significant consequences:
- Increased errors leading to financial misstatements and compliance risks.
- Delays in identifying unpaid amounts, impacting cash flow.
- Lost productivity as teams spend hours manually matching records.
- Limited ability to scale TikTok as a revenue channel efficiently.
For businesses looking to grow their presence on TikTok, a manual reconciliation process will quickly become a bottleneck that slows down operations and increases costs.
Hairball’s TikTok Payout Reconciliation Template
To address these challenges, Hairball has launched the TikTok Payout Reconciliation Template, designed to streamline and automate payout settlements within NetSuite.
Key Benefits
- Automate Data Import: Bring in TikTok fees, payments, and refunds directly into NetSuite.
- Dispute Management: Identify unprocessed amounts and raise disputes with TikTok.
- Transaction Reconciliation: Ensure payouts match orders and refunds in NetSuite.
- Bank Account Matching: Accurately reflect payments in financial statements.
- Bulk Processing: Run multiple payout reports in one go.
- Discrepancy Reporting: Spot unsettled amounts and mismatched orders.
- Custom Lag Settings: Delay reconciliations for a defined window to match real-world processing timelines.
- GL Account Tracking: Assign TikTok fees to the appropriate GL accounts for financial clarity.
How It Works
The template consists of three essential flows that automate the entire payout reconciliation process:
- Get TikTok Payouts: Automatically download payout reports from TikTok.
- Statement Transaction Reconciliation: Match TikTok transactions with NetSuite records.
- Create Bank Deposit: Apply undeposited funds and finalize the reconciliation process.
This automation removes the need for manual intervention, ensuring that TikTok payouts are always accurate, up to date, and correctly reflected in NetSuite.
What You Can Expect: A Frictionless TikTok Sales Channel
With Hairball’s TikTok Payout Reconciliation Template, businesses can:
- Reduce manual reconciliation time by 80 percent.
- Eliminate errors and improve financial accuracy.
- Gain real-time visibility into TikTok profitability.
- Free up accounting teams to focus on higher-value tasks.
By implementing this solution, companies can confidently scale their TikTok sales without adding operational complexity.
Next Steps: Simplifying Your TikTok Payouts with Automation
If your team is still manually reconciling TikTok payouts and facing inefficiencies, now is the time to explore automation. This template is an ideal solution for businesses that have integrated TikTok with NetSuite and are looking to improve financial accuracy and efficiency.
For those interested in learning more, we are happy to discuss how this solution can be tailored to specific business needs. Contact us today to see how automation can streamline your TikTok reconciliation process.
