How to Post Myntra Settlements in Tally Prime

Decide how you will book Myntra in Tally

There are two common approaches. The first is to post only the net payout as a receipt. It is quick, but it hides commission, fees and returns, so you cannot check whether Myntra charged what was agreed.

The second is to post gross: sales and returns go to a Myntra party ledger, deductions are booked as expenses or receivables, and the bank receipt clears the balance. This takes more effort but gives you a usable ledger and a clear audit trail. This guide uses the gross method.

Confirm the GST treatment of your sales, returns and Myntra's fee invoices with your chartered accountant before you finalise the structure.

Set up ledgers before you post

Create these ledgers once. Names are suggestions; match them to your chart of accounts.

• Myntra under Sundry Debtors (the party ledger).
• Sales - Myntra and Sales Returns - Myntra.
• Marketplace Commission, Fixed or Collection Fees, Logistics or Shipping Fees and Penalties and Adjustments under indirect expenses.
• Input GST ledgers for tax charged on Myntra's fee invoices, if you claim credit.
• TCS Receivable and TDS Receivable under current assets, if your settlement shows these deductions.
• Your bank ledger receiving the payout.

Step-by-step: posting one settlement cycle

1. Download the reports. Get the settlement report and the sales and returns data for the same period from the Myntra seller panel. Keep the settlement or payment reference.
2. Post sales. Record sales vouchers with Myntra as the party and your GST ledgers. Daily or cycle-wise summary vouchers are acceptable if your accountant agrees, but keep the order-level data in Excel.
3. Post returns. Record credit notes against Myntra for returned and cancelled items in the cycle. Do not net them off sales.
4. Post deductions. Use one journal voucher per cycle: debit commission, fees, penalties, input GST, TCS receivable and TDS receivable; credit Myntra. Take every amount from the settlement report or fee invoices, not from the bank credit.
5. Post the receipt. When the money arrives, record a receipt from Myntra for the exact bank credit and put the settlement reference in the narration.
6. Check the ledger. The Myntra balance for that cycle should be nil.

The column names and deduction heads in Myntra's report can change, so check them against the latest report and your seller agreement.

Match the Myntra ledger to the bank

After posting, open the Myntra ledger and look at what remains. Anything left is one of three things:

• Timing: sales in the books whose settlement is not yet paid out.
• Posting gaps: returns or deductions in the report that you have not booked.
• Disputes: amounts that Myntra deducted but which do not match your agreed terms.

Keep a short list of open items with the order ID, amount and reason. Disputed deductions are best raised with Myntra while the evidence is fresh, and the rate card in your seller agreement is the reference for what should have been charged.

Common mistakes that break the match

• Posting only the bank credit, which leaves sales and returns out of the books.
• Booking TCS or TDS as an expense instead of a receivable. Confirm treatment with your tax adviser.
• Posting returns in the month the refund reaches the customer rather than in the period the report records them, without noting the difference.
• Mixing several settlement cycles in one receipt voucher, which makes tracing impossible.
• Ignoring small adjustments such as penalties or reversals, which pile up in the Myntra ledger.

When manual posting stops scaling

Voucher posting works while order volumes are modest. Once you have thousands of line items per cycle, the harder job is checking whether each deduction is right, not typing vouchers. MarketplaceMetrics by Fundle reconciles sales and settlements, checks commissions and fees against agreed terms, and tracks returns and recovery cases. Myntra Excel reports are reviewed today, and other marketplaces are in scope discussion.