Every company has the main goal of growing. To achieve this, the businesses must figure out how to use e-commerce. The emerging trend is for businesses to buy and sell on online marketplaces. Because they give you the chance to access a worldwide audience. Limeroad is an example of a well-known online retailer of cosmetics and other fashion products in India. Cosmetics, garments, accessories, and perfumes are just a few of the many products available on the internet for both men and women. Limeroad is renowned for offering low prices and high-quality goods. One can purchase all of their favorite designer clothing and cosmetics there.
Limeroad charges the seller for the services they provide just like any other marketplace. These fees are assessed for each order and are dependent on a number of variables and rates. Because of this, the verification procedure is quite challenging.
Therefore, it’s crucial to read over each report and compare vendor data with Limeroad reports. This method is extremely difficult since it requires so much time and effort to clean, extract, and summarize data for analysis. This important task is made easier to do with Cointab. You can switch to automated reconciliation using the Cointab system, where you can start reconciliation with the push of a button and have the data submitted automatically. Before bringing up concerns with Limeroad, a seller merely needs to wait for the findings, review them, and look for any internal problems.
The Fees Charged:
A fee is charged by Limeroad to the seller for every order sold via its marketplace. This fee is charged at 40% on item price as of now and keeps varying over time and season.
Reports required for reconciliation:
When a seller sells goods, Limeroad offers an Order report that lists every product’s specification, including size, weight, category, etc. Rates are applied based on these variables.
The sellers receive a Payment report from Limeroad that includes all of the fee deductions.
The system determines the fees for each order using Limeroad’s rates. Then, it highlights any discrepancies between these charges and the sums Limeroad charged in their Payout report.
The charge for each order is determined by Cointab’s system based on the rate (40%) and item price. It then compares the results of all these calculations to the figures in the Limeroad reports and displays the charges for each order along with a determination of whether or not they were applied correctly.
The Result Displays:
The output displays the total number of orders as well as the accurate order total. In other words, the calculated fee and the fee Limeroad charges are identical.
The total number of orders and the overcharged amount is then displayed in the output. This indicates that the computed fee is less than the fee Limeroad charges.
Following that, the output displays the total number of orders and the undercharged amount in its entirety. The computed fee is therefore greater than the fee Limeroad charges.