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
Sr. Analyst E-Commerce
Financial & Accounts health
MS Finance Services