This feature provides the user with the means to change the various order transaction fees including currency conversion fees and is the one place in the MarginDriver application that requires a monthly monitoring and possible adjustments by the user.

The average MarginDriver user will most likely process at least 15,000 orders a month requiring in excess of 100,000 individual calculations to arrive at a consolidated monthly gross profit. The task of tracking, calculating and accounting for such transaction spanning multiple sales channels and countries to arrive at a monthly gross profit can often seem endless and overwhelming.  

MarginDriver provides a unique solution to solving this problem for internet retailers but as stated above, the solution does require monitoring by the user. MarginDriver can be equated to a GPS system in a car, with the GPS systems gathering, processing and providing the operator with extremely valuable data making driving a much easier, safer and more pleasant experience but the operator is still responsible for steering the car(at least for now). MarginDriver is an internet retailer’s GPS accounting system and the Fee and Currency Settings is the user’s steering wheel.

These thousands of monthly order related calculations can each require the rounding of individual dollar amounts, conversions of currencies that may be a different rate at the time of the sale than at the time of transfer to the user’s local account, and the capturing of channel seller fees and credit card fees which can often fluctuate. The accumulated variance of thousands of these estimates from actual results in a month can be material in relation to the user’s monthly gross profit. Keeping such variances at an immaterial level is easily accomplished by monthly adjustments to the fee settings for each respective sales channel displaying such variances. These variances are identified through the monthly reconciliation of the accounts receivable for each sales channel, as discussed in the Accounting/Accounts Receivable Reconciliation feature.

If through the completion of the accounts receivable (AR) reconciliation, the balance owed the user from third parties is higher in any given account than is shown in the user’s respective general ledger accounts receivable account, then a positive adjustment (journal entry) needs to be made to AR and the income statement. And in such case the user will make a determination (based on the amount of such difference and journal entry) as to how much to adjust the various fees in this Fees and Currency Settings feature to eliminate such variance in future months. Any negative variance would require the reverse action and journal entry on the part of the user.

The user must click on the Save button at the bottom of the page to activate the changes made on this page. And such changes will not go into effect until midnight on the day the changes are made and saved.

Once the user creates a new sales channel in the Sales Channel Setup page, it will automatically appear on the Fee and Currency Settings page. The user then needs to enter certain initial information on the Current Settings tab (as described here) and monitor such settings monthly to ensure accurate results for all MarginDriver reports.