The Indian e-commerce boom continues, with online marketplaces like MensXP connecting buyers and sellers seamlessly. MensXP caters specifically to men’s needs, offering a diverse range of products – from clothing and accessories to skincare, haircare, and fragrances – all at competitive prices. However, managing fees on MensXP can be a time-consuming hassle for sellers. Reconciling sales data with MensXP reports to ensure accurate fee calculations is a crucial but tedious process..
Cointab simplifies this challenge with automated reconciliation.
With Cointab, data upload and reconciliation are automated, freeing you up to focus on growing your business. Just review the results, identify any discrepancies, and file disputes with MensXP if needed.
MenXP fee structure
MensXP keeps things straightforward for sellers with a clear fee structure. You’ll only incur a commission fee on each product sold through their marketplace. This commission fee is a flat 40% of the item’s selling price.
This transparent approach allows you to easily calculate your costs and set competitive prices on MensXP.
Reports needed for reconciliation process
MensXP Order Report: This comprehensive report serves as your central hub for all order details. It includes crucial information like individual order details, product information, pricing, and, most importantly for reconciliation, the specific commission fee charged for each order.
Fee Verification
- Automated Fee Calculation: Cointab automatically calculates the commission fee based on the standard MensXP rate (40%) and the individual item price for each order in your reports.
- Discrepancy Detection: Cointab then compares the calculated fees with the actual fees charged by MensXP. Any discrepancies are clearly highlighted, making it easy to identify potential errors.
- Clear and Concise Results: The results are presented in a user-friendly format, allowing for quick and effortless analysis. You can easily pinpoint any differences between your calculated fees and MensXP’s charges.
The results are displayed as follows
- Correctly Charged Fees: This section displays the number of orders and the total amount where the calculated commission fee perfectly aligns with the fee charged by MensXP.
- Overcharged Fees: Here, Cointab identifies any instances where MensXP might have charged a higher commission fee than expected. It displays the number of affected orders and the total overcharged amount, allowing you to investigate further with MensXP if necessary.
- Undercharged Fees: This section highlights situations where MensXP might have undercharged a commission fee. The report displays the number of orders and the total undercharged amount, empowering you to potentially claim any missing revenue from MensXP.
Effortless MensXP Fee Management with Cointab
Managing fees on the MensXP marketplace can be a time-consuming and error-prone process. Manually calculating commission fees, verifying charges against reports, and identifying discrepancies can quickly become a hassle for busy sellers. Cointab’s automated reconciliation solution eliminates these challenges, streamlining your MensXP fee management. Unlock all the benefits with Cointab!
