To match your Myntra seller ledger with your bank statement, download the settlement report and ledger for a fixed period, list every bank credit from Myntra, map each credit to a settlement batch using date and reference, compare the net payable with the amount received, and classify any difference as timing, deduction, adjustment or unexplained. Escalate only the unexplained items.
What you are actually matching
Three records are involved, and confusing them is the most common source of wasted effort.
- Myntra seller ledger or settlement statement: what Myntra says it owes you after sales, returns, commission, fees and adjustments.
- Bank statement: what actually reached your account, and when.
- Your books: the receivable you booked from sales and the entries you made on receipt.
Ledger-to-bank matching proves that the cash received equals the amount Myntra declared payable. It will rarely match order by order. A bank credit is typically a net figure for a settlement cycle, covering many orders, so you match batch to credit, not order to credit.
Gather the right data first
Fix one period before you start, for example a calendar month, and pull everything for it. Report names and layouts change, so confirm what your Myntra seller portal currently offers.
- Myntra settlement or payment reports for the period, plus the seller ledger if available.
- Your current bank statement in Excel or CSV, not a PDF, so you can filter and sort.
- Your seller agreement and commission or fee terms, to check deductions against what was agreed.
- Prior-period closing balance, so pending items from last month are not treated as new errors.
Keep the period boundaries consistent. A settlement for sales in the last week of March may be credited in April, and that is a timing item, not a mismatch.
Step-by-step matching method
- Filter the bank statement to credits from Myntra. Use the narration, payer name or UTR reference. Note date, amount and reference for each.
- List settlement batches from the ledger or settlement report, with settlement date, payment reference and net payable.
- Map each credit to a batch. Match on reference first, then on amount and date. If one credit covers several batches, or one batch is paid in parts, record the grouping explicitly.
- Compare net payable with amount received for each pair and record the difference.
- Classify every difference as timing, deduction, adjustment, bank charge or unexplained.
- Check the opening and closing position. Opening receivable plus new settlements minus bank receipts should equal the closing receivable in your books.
- Record the open items with owner, amount and next action.
Common reasons the numbers do not match
| Cause | What to check |
|---|---|
| Timing | Settlement dated in one month, credited in the next. Check the payment cycle in your seller agreement. |
| Grouped payments | One credit covering multiple batches, or one batch split across credits. |
| Statutory deductions | Tax collected or deducted at source. Rates and rules change, so confirm with your tax adviser and the latest government notifications. |
| Commission and fees | Compare each charge with your agreed rate card. Do not rely on memory of old rates. |
| Returns and adjustments | Return, RTO or exchange reversals landing in a later cycle than the original sale. |
| Penalties or recoveries | Deductions for claims, quality issues or other charges. Ask for the supporting detail. |
| Bank-side items | Charges, reversals or a credit posted under a different narration. |
Most differences fall into the first five rows. What remains after classification is your real exception list.
Handling unmatched items and recovery
Do not raise a query for every small gap. First eliminate timing and grouping, then check each deduction against the agreed terms. What is left should be documented before you contact Myntra.
- Note the settlement reference, period, expected amount, received amount and the exact line or deduction in dispute.
- Attach the relevant extract from the settlement report and your agreement clause.
- Raise the case through the channel your seller support process specifies, and record the ticket number and date.
- Track the case until it is credited or closed, and reflect the outcome in your books.
Be mindful that claim windows can apply. Check your agreement or seller support documentation for the current time limits, and do not leave old items for a year-end clean-up.
Make it a monthly routine
Do the match within the first week after month-end while references are fresh. Keep one running schedule of open items with age, amount and status, and review it with your finance head.
If manual matching in Excel is taking too long, MarketplaceMetrics by Fundle reconciles marketplace sales and settlements, checks commissions and fees against agreed terms, and tracks returns and recovery cases. Myntra Excel reports are reviewed, and other marketplaces can be discussed for scope. Either way, the discipline is the same: batch to credit, classify, escalate only the unexplained.
Worked example
Illustrative example only. Figures are not real and do not represent any actual rates.
| Line | Amount (₹, illustrative) |
|---|---|
| Sales value in settlement batch | 1,20,000 |
| Returns and RTO adjustments | -20,000 |
| Commission and fees as per settlement report | -22,000 |
| Statutory deductions as per report | -1,000 |
| Other adjustment or penalty | -1,500 |
| Net payable per ledger | 75,500 |
| Bank credit received | 74,500 |
| Difference to explain | 1,000 |
The bank credit is ₹1,000 lower than the ledger. Check whether a deduction appears in the portal but not in your export, whether a recovery was netted from this payment, and whether a bank charge was posted. If none explains it, raise it as an unexplained short payment with the batch reference and extract.
Questions and answers
Why does my Myntra bank credit not match any single order?
Marketplace payouts are usually net amounts for a settlement batch, covering many orders, returns and deductions. Match the bank credit to the batch net payable using reference, date and amount, then drill into order-level lines within the settlement report only for exceptions.
How often should I match the Myntra ledger to the bank statement?
Monthly is the minimum, ideally within the first week after month-end. If your volumes are high or payouts are frequent, a weekly check on open items helps you catch short payments while references and claim windows are still fresh.
Which deductions should I verify against my agreement?
Verify commission, fixed or other fees, penalties and recoveries against your seller agreement and rate card. For tax collected or deducted at source, confirm the current rules and rates with your tax adviser and official notifications, not with old statements.
What if a payment is short and I cannot explain it?
Document the settlement reference, expected and received amounts, and the disputed line, then raise a case through Myntra's seller support process. Keep the ticket number, track it to closure, and check your agreement for any time limit on claims.