Almost every Myntra seller asks the same question at some point: “My sales report shows one figure, but the money in my bank is much less. Where did the rest go?” Part of the gap is normal: marketplace costs and returns. Part of it is often money that was deducted wrongly, or never paid at all. The only way to tell the two apart is order-wise reconciliation.
The same logic applies to Flipkart, Ajio, Amazon, Meesho and other marketplaces. The report names differ; the method does not.
Where the difference between sales and settlement comes from
| Reason | Normal or worth checking? |
|---|---|
| Commission and fixed or closing fees | Normal, but check the rate against your category and the rate card in force on the order date |
| Shipping, pick-up and payment collection charges | Normal, but check the weight or size slab charged against the product’s actual dimensions |
| Customer returns and RTO (return to origin) | Normal, but each returned order must be reversed exactly once |
| Return or reverse-shipping fees | Check that they apply to that order and are not charged twice |
| Penalties and other deductions | Always check: each should have a stated reason |
| GST TCS (0.5% since July 2024) | Not a cost: it is your GST credit, claimable on the GST portal |
| Income-tax TDS under Section 194-O (0.1% since October 2024) | Not a cost: it is your income-tax credit, shown in Form 26AS |
| Orders delivered but not yet settled, or never settled | Worth checking: this is money owed to you |
| Returns lost in transit or received damaged | Worth checking: usually claimable within the marketplace’s time limit |
Many sellers treat TCS and TDS as expenses. They are not. If they are not claimed, the seller loses them.
The reports you need
From the seller panel, download for the same period:
- Sales report, order line by order line, with selling price and tax.
- Returns report, including customer returns and RTO.
- Settlement or payment report, showing what was paid against each order and each deduction.
- Your bank statement, to confirm each settlement payout actually arrived.
For claims, also keep the marketplace’s claim or dispute report and the evidence it asks for, such as packing videos or images.
How order-wise reconciliation works
- Join the reports on order ID (or order line or item ID, where the marketplace uses one).
- For each delivered order, compare the expected payout (price less correct commission, fees and taxes) with the actual settlement.
- For each returned order, confirm the sale was reversed once, the return fee was correct, and the item actually came back in sellable condition.
- Group the differences: unpaid orders, excess fees, wrong shipping slabs, unreversed returns, lost returns, unexplained penalties.
- Match TCS and TDS with the GST portal and Form 26AS.
- Match settlement payouts with the bank statement.
The output is a recovery list: order IDs, the amount, the reason, and the evidence to raise with the marketplace.
Why monthly matters
Marketplaces settle in cycles and allow disputes only within a limited window. A difference noticed six months later may no longer be claimable. Monthly reconciliation catches errors while they can still be recovered, and keeps your books, GST returns and bank in agreement.
Common mistakes sellers make
- Booking one consolidated entry per month in Tally, which hides every order-level error.
- Filing GSTR-1 from the payment report instead of the sales and returns reports.
- Not accepting TCS entries on the GST portal, so the credit never reaches the cash ledger.
- Raising claims without the evidence the marketplace asks for, so they get rejected.
- Treating every deduction as final instead of checking it against the rate card.
Let us do it for you
KSV reconciles Myntra, Flipkart, Ajio, Amazon, Meesho, Limeroad and Snapdeal accounts order by order, using our own tools, and gives you the recovery list, an order-wise profit view and Tally entries. Try our interactive settlement leakage check, see our marketplace reconciliation service and GST for e-commerce sellers, or send us one month’s reports on WhatsApp for a quote.