Covid Pandemic and roll of E-Commerce Business

Dear Sellers , Hope you all are well and safe , please be careful in this tough time . I am Tapas behera , E-Commerce Financial analyst & Consultant , would like to present some vital information about business condition of E-Commerce Sector in this Covid time.

We all know it’s a very bad phase for not only our country India but also for whole World , it’s a very bad condition for Life ,Job, business. around 70 lakhs people lost their job , where one analysis told maximum people’s bank account have Zero Savings now , Maximum company closed , We are little lucky as engaged with E-Commerce business, as same business is running due to non contact delivery /E-Business and some of coming under essential goods/services . I am discussing here some Major points which can help you for Your business Growth if you are a managing partner , it can help an employee as well as an E-Commerce consultant . Everyone engaged with E-Commerce .

Point 1# Why E-Commerce business is running where other business is closed

State Government of Various states allowing to open E-Commerce company and Delivery as it’s non contact and can reach to your door, it’s Delivering Essential and non essential goods , Central government has not been issued any guidelines (Except normal safety majors ) for Same in this year , state Govt. issues guidelines and all E-Commerce staff need to obey same covid guide lines. Govt Observed it’s important for People as they need the goods both Essential and nonessential as local market /Shopping mall etc are closed and movement to take same is difficult in this time and risk of infection , as a running business Company can balance in financially and operationally , financial rotation can happen and staff can pay on time with Job secure , Govt. can receive the tax so it’s might help to Government . We know it’s very less tax comparative of Large Scale business of offline but in this time same tax revenue can help govt. too.

Point 2# What should be action plan of an E-Commerce business in this Covid time

Company Management team should obey all the guidelines issues by local government and should train their staff for same ,should focus more on employee health , both Mentally and Physically , focus more on work from home , only operation and production team need to come office as it’s operational activities , try to avoid unnecessary expenses . Need e big plan for stock in hand but should not over stock , last year end of lockdown give an experience of a high sales , so we think this year also same will be repeated again , Company should ready with all action plan to achieve the same sales , company should add if Category addition require .

Point 3# Why Maximum E-Commerce business could not balance the profitability for a long period of time

In E-Commerce business , it’s matter your direct and indirect expenses , i mean you should clear about your commission , logistics and all portal Expenses , suppose you are selling a product of Rs 1000 under Flipkart Portal where Commission 15% , Logistics Forward 45-55-75 for Zonal , Local and national respectively , 2% pg fee or rs 20 which ever is higher , fixed fee 20 rs other transaction fee rs 20 , so company will get rs 715 if product sold to National and if return then Reverse Logistics will be charged as per mou , so it’s basic calculation should add with costing sheet , also return should tally with physical received pcs , Payment should reconcile timely else Online portal will not entertain , so all loss should avoid then a company can succeed .

Company management should analyze above points and keep in mind to run a successful business , we are at MS Finance and Analysis Services , providing services of Payment Reconciliation for E-Commerce , Return operational management and Safe-t claim management , Cost to Profit business analysis , chanel analysis , Risk management etc around 200 companies across all over India , feel free to contact us , we will happy to hear from you .

Regards

Tapas behera

Finance Analyst (E-commerce)

T-9818958912

mail : info.efinancereco@gmail.com

skype: tapasbeherapintu

Web : http://www.msfinance.in/

Ajio Payment Reconciliation

Dear Sellers , Hope you all are well and doing great . I am Tapas behera , E-Commerce finance analyst , would like to explain about Ajio’s payment Reconciliation , related to various module.

Well , You all aware about AJio , It’s a leading E-Commerce Marketplace place for sellers . AJio is running 3 Module currently as below.

1- SOR (Sales or Return)

2- B2B (Jit Module)

3- B2C (Commission and Logistics Marketplace )

SOR is the oldest method where seller got paid once product sold by Ajio at their ware house , that module seller direct billed to Ajio on bulk orders and for a particular month Ajio calculate Sales vs return and make the payment , previously the discount treated as normal expenses and no GST impact , difference GST got paid under final payment , but post April 2020 , Ajio is issuing GST Debit note for Discount which is Available under GSTR2A, this is a good method for seller on operational point of view and one time bulk payment .

B2B Is new Model under Ajio , where seller will get daily a Purchase Orders and dispatch to Ajio , and the payment will be happen 2 times a month as per Grned previous month for a stipulated period after deduction of return , Marketing etc.

B2C also a new module introduced by Ajio Marketplace , here customer will get regular and separate orders for individual customers and Seller need to ship and payment will be happen post Commission and Logistics deduction.

For Payment Reconciliation fell free to get in touch with us for Ajio or Any other market places .

Regards

Tapas behera

Finance Analyst (E-commerce)

T-9818958912

mail : info.efinancereco@gmail.com

skype: tapasbeherapintu

Web : http://www.msfinance.in/


Myntra FBM -PPMP-M Direct Stock Reconciliation & Return management

Dear Sellers, Hope you all are safe and Doing Great , I am Tapas behera , E-Commerce finance Analyst , I have written blogs and uploaded videos related to Myntra Payment Reconciliation for above model, Now We have developed Inventory reconciliation model to track FBM , PPMP , M -Direct orders stock from one state to another state movement or own ware house movement , as per us stock lost means direct loss , Please read below model so you can take care of your return.

FBM Module Stock Reconciliation :

In FBM Module You have 2 Facility , one is your own ware house and another one is Myntra Ware house , so you are transferring your goods to Myntra ware house through STN once you received STR , so every STR orders need to dispatch by Myntra Ops team or return to Your facility if Qc rejected , here point is that return comes to you may be Qc rejected or Courier return or Customer return , but all should come under a Gp code , you should check Qc rejected + Courier return and RTO should match with Gate pass and all gate pass should received to you , if you fail to receive any goods please raise a ticket on time so Myntra team can investigate and help you on this , if lost then can take spf claim.

PPMP / M-Direct Module Stock Reconciliation :

In PPMP or M-Direct module , you are operating orders from your warehouse and shipped goods individual packet to your customer separate , so if return coming please maintain a sheet for Order cancel packet and Courier and customer return packet , it will be easy to check all the return received or not , if found any mismatch please get in touch with Myntra support team for Quick help.

Feel Free to get in touch with us for Stock reconciliation , Payment reconciliation etc.

Regards

Tapas behera

Finance Analyst (E-commerce)

T-9818958912

mail : info.efinancereco@gmail.com

skype: tapasbeherapintu

Web : http://www.msfinance.in/

Myntra Payment Reconciliation

Dear Sellers , Hope you all are well and doing great . I am Tapas behera , E-Commerce finance analyst , Today I would like to explain about Myntra’s payment Reconciliation , related to various module.

Myntra is a leading E-Commerce company for Fashion, each and every seller wants to on board at Myntra , But Myntra chose selected seller as per performance and Listing capacity to on board at his portal, How ever In India Myntra currently running by 3 modules , 

1-JIT (Just in time)

2-SOR/SJIT ( Sales or Return)

3-FBM (Fulfillment by Merchant)

4-PPMP

Where JIT & SJIT both are B2B module and FBM & PPMP are B2C module ,let’s discuss about it briefly .

JIT known as Just in time , in this module Sellers were getting 1-2 po’s per day and need to send Tax invoice along with goods to nearest Myntra Hub , Payment process is next month 20th . At the time payment calculation looks like below ,

DetailsValueNature
Sales Invoice valuexxxxxxxCredit
Return Gate passxxxxxxxDebit
Discount sharingxxxxxxxDebit
Minimum marginxxxxxxxDebit
Cancelation feesxxxxxxxDebit
TOIxxxxxxxDebit
Net balance payablexxxxxxx(Credit-Debit)

SJIT module was a famous module at that time , cause there was 1-2 bulk po in a month and need to ship those goods to along with tax Invoice , payment will happen next month by 15th for all successful sales less return and less all deductions like JIT.

FBM also known as fulfillment by merchant, it’s actually 2 types FBM CC ( Fixed commission ) FBM C+L (Commission & Logistic (Both forward & reverse) Payment is D+15 after deductions off charges, Point is that we need to monitor all payment received or not with correct deductions , we have designed our module to track all the payments, 6 payments in a week , FBM module payment reconciliation is discussed in detail at another blog , please click below to redirect to that page, http://msfinance.in/Blog/index.php/2019/11/10/hello-world/

PPMP module is a self ship module , it’s b2c , seller need prepare packet for all single orders and send to customers directly, Payment is D+15 after deductions of all fees like commission , PG fee, fixed fee , Logistic -Forward /Reverse , etc , weekly 6 payment e.g Monday 2 payments (1 for cod / 1 for prepaid ) same Wednesday & Friday. Important thing is that we need to monitor all payment received or not with correct deductions , we have designed our module to track all the payments .

Regards

Tapas behera

Finance Analyst (E-commerce)

T-9818958912

mail : info.efinancereco@gmail.com

skype: tapasbeherapintu

Web : http://www.msfinance.in/

Role of an E-commerce Analyst. Is E-Commerce Payment reconciliation is a great problem to solve.

E-commerce Analyst (financial & Strategy)

Hi Viewers, This is Tapas behera , an Analyst of E-commerce (Finance & Payment Reconciliation), I started my carrier here by 2014. As per my knowledge, I would like to Put the definition of E-Commerce Analyst: Analyst is someone who is thorough in a particular area of practice, In e-commerce you should have grass root knowledge about all the portal and all the process used in retail e-commerce, It’s not a subject you can study and say I am an analyst . It’s the experience you gain and it’s the practice you did here, You should have knowledge from Operations – sales – marketing – Payment etc.

I believe E-commerce analyst has 2 categories, one is financial and another one is Strategy. Strategy level analyst can guide you about your sales, marketing, Growth & forecasting, whereas financial Analyst can guide you about your Payment, Reconciliation, NOC/NDC/TOI, Discount, Margin , Profit & Loss on order level, GST ,TDS etc. He can guide you step to step about your orders payment nature, excess received short received, Taxation accuracy etc. Well as I am an Analyst of E-commerce and My strength is financial so will discuss here the role of same.

Role of an E-commerce Analyst (Financial & Payment reconciliation)

Well, before you introduce yourself as an analyst, you should have more than 3 years of expertise in e-commerce sector under Accounting , Taxation , Payment reconciliation , Operation (Ware housing ) and you should have more than hundred discussion with Finance team of various E-commerce portal. Analyst roles & task discuss below.

  1. Analyst will check all the portal weekly , Monthly to know your payment and orders to order payment status , all payment received or not .
  2. He is the person who will claim for unpaid orders payment , dispute orders payment and discuss with finance team of various ecommerce portals .
  3. He will prepare monthly summary reports of Sales , Return , Cancellation , Commission , discount etc , it’s help to your accounts team to prepare actual GST.
  4. Analyst can guide you about LDC (Lower deduction Certificate )on TDS , it’s easy to your accounts team to deposit actual TDS on portal behalf .
  5. Another vital role of an analyst is to claim TDS from Portal.
  6. He is the Person can discuss with your CFO and CA and discuss about marginal issue with portal and suggest selling price , discount etc.
  7. Analyst can save more than lakhs in a month by proper payment reconciliation , it’s his primary task.
  8. Apart from That he should used to all portal , regarding fetch the data, new feature etc.

So we suggest an E-commerce analyst can make your business more profitable and power to save your single penny , MS Finance Services doing this role from last 5 years feel free to get in touch with us.

Contact us

Co-Founder – Tapas Behera
(Financial Analyst Retail E commerce & Payment Reconciliation)

Contact Number

+91-9818958912
+91-7835845410

Mail : info.efinancereco@gmail.com

Web: http://www.msfinance.in/

skype : tapasbeherapintu

Limeroad Payment Reconciliation

Hi I am Tapas behera , An Analyst of E-Commerce Finance & Payment reconciliation , I am writing the same blog to make clarity about Payment reconciliation of Limeroad – A.M. Marketplaces Pvt. Ltd

Well , Limeroad is a Growing E-Commerce Portal for Fashion & home decor  ,Many sellers are doing a good number of  business with Limeroad, at the end all business man want to know their payment is safe or not, all orders has a settlement or not . so at this time then need help of Payment reconciliation.

Key Points or tools of Limeroad Reconciliation

1-Log In to Dashboard – http://vendor.trunkroute.com/vendorportal/

2-Go to Seller Portal New-  http://seller.trunkroute.com/vendor_inventory/inventory

3-Look left top side , three line based , click there and go to down -Payment summary

4-Click on Payment summary –  http://seller.trunkroute.com/payments/summary

5-For Reconciliation we actually need 2 data (a-Sales Reports , b-Payment reports)

6-Get sales data to click on icon- Click here to download various monthly reports(Reports will get live from 4th of every month) and click on Payment sale return reports & same how get the payment data –  Click here to view payment details created after 1st January 2017

So now your all required details on your hand , now Get sales reports and remove all the returns , Go to Product description and remove all limeroad gold, as that added only for Marketing not for Payment , Also I need to give a brief idea to you about COD /Shipping charges added on Limeroad Invoice, it’s depends up on your MOU and discussion with LR team, if it’s written all COD/Shipping charges would go to seller then it would be pay to you or vise versa.

So You need to Go through your MOU before got to Reconciliation , now go to sales sheet check order Id & suborder Id both are separate you need to merge through concatenate formula and middle part is ” S”, then make the pivot on your payment sheet , take order id, Margin, Sales , return , Margin %ge , Adjustment etc, then you can check how much your orders settled , how much returned , how much now unpaid stage and discrepancy .

What you need to check very carefully .

1-SLA/Penalty Section

2-Packaging section

3-Marketing Debit Section

4-TCS debit should match with GST portal as well as taxable order value

5-Invoice value vs Payment sheet Invoice value vs Your Listing Invoice value

6-Check your Payment at Limeroad Portal taking 15 days vs Bank 

Fell Free to Get in touch with us for E-Commerce Reconciliation and Taxation related queries .

With Regards

Tapas behera

+91-9818958912

Sr. Analyst E-Commerce

Financial & Accounts health

MS Finance Services

www.msfinance.in

Myntra FBM Reconciliation

Myntra is a leading E-Commerce company for Fashion, each and every seller wants to on board at Myntra , But Myntra chose selected seller as per performance and Listing capacity to on board at his portal, How ever In India Myntra currently running by 3 modules , 

1-JIT (Just in time)

2-SOR/SJIT ( Sales or Return)

3-FBM (Fulfillment by Merchant)

As per above module , JIT & SJIT both are B2B module and FBM is B2C module , on this Blog we will discuss about FBM – Myntra reconciliation , which is very tough and difficult to understand.

 What Is the necessity of Myntra FBM – Reconciliation 

Every vendors want to know their payment against sales , so it’s being require to do the reconciliation , though JIT module was very easy to reconcile Invoice to Invoice and that was mostly 30-60 invoices on a month so anyone can easily track that payment , but in FBM the module is difficult and Complicated also , If you could not reconcile then your payment may stuck some where .

Details of Myntra FBM Reconciliation

Below is the process to Get the details from Portal , 

Log in to Partner Portal, Chose FBM , Go to  reports , Go to Financial Reports Chose months and get the details.

1- Sales Revenue Packed B2C monthly report
2- Restocked B2C monthly report
3- PG Forward Settled monthly report
4-PG Reverse Settled monthly report

Below is the snap of Reports 

FBM Myntra Reconciliation Process

Sales and revenue reports is your sales and take the total price and customer paid price , Take the details from Mynyra unicommerce Item barcode lavel reports and check the GP no for return , Pivot PG Forward & Reverse amount , check the commission , Logistic , TCS and check the %ge very clearly , check settlement & Bank payment , match with your bank all payment received or not , if any discrepancy  found then raise the tickets .Myntra PST will help you on this

Wrong Reconciliation Impact on Your account & GST

Your reconciliation should proper else payment will stuck or miss and your capital rotation process will hamper , also you need to take correct sales , Return & Commission , Logistic Invoice, TCS else GST will mismatch.

 Thanks For your time & Give us your valuable feed back on this

With Regards

Tapas behera

+91-9818958912

Sr. Analyst E-Commerce

Financial & Accounts health

MS Finance Services

www.msfinance.in