E-commerce is becoming more and more popular every day. It is no longer unexpected to find individuals buying and selling goods on internet marketplaces. These online markets give consumers and sellers space to exchange goods and communicate. Mens XP is a well-known online retailer of goods for men in India. Mens XP provides a vast selection of goods for guys, including clothing, accessories, fashion items, skincare, hair care, fragrances, and much more. Mens XP is renowned for offering low prices and high-quality goods. Here, one may shop for all of their favourite designer apparel and cosmetics.

Mens XP charges the seller with certain fees for every item dispatched via its marketplace, just like any other marketplace. Due to this, a seller has to frequently evaluate all reports from Mens XP to make sure that the fees being charged to them are accurate and justifiable. Since it takes a lot of time and effort to clean, extract, and summarize data for analysis, this procedure is extremely difficult. Cointab makes this important task easier. You may switch to automated reconciliation when utilizing the Cointab system, where data is automatically uploaded and reconciliation is begun with a click of a button. The seller need only wait for the results, review them, check for any internal problems, and then submit disputes to Mens XP.

The Fees Charged by Mens XP are:

Commission Fees

Mens XP charges only a commission fee to sellers for each product sold via its marketplace.

The Fee charged is 40% of the item price.

The Reports needed for Reconciliation are:
Mens XP Order Report

This report consists of all the Orders and their details which includes the fee charged for each order.

Fee Verification

For Fee verification, Cointab calculates the commission fee based on the rate (40%) and the item price of each item. Then the system compares the fees calculated with the fees charged by Mens XP and differentiates the amounts. The result is easy to analyze as it is organized and summarized in such a way.

The result is displayed as follows:
  • Correctly Charged Fee
    • The Output then shows all the number of orders and the total amount that is correct. This means that the calculated fee and the fee charged by Mens XP are the same.
  • Overcharged Fee
    • The Output then shows all the number of orders and the total amount that is Overcharged. This means that the calculated fee is lower than the fee charged by Mens XP.
  • Undercharged Fee
    • The Output then shows all the number of orders and the total amount that is Undercharged. This means that the calculated fee is higher than the fee charged by Mens XP.

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Reconciliation