Eshopbox helps you reconcile fees charged and payments received from Myntra against your Myntra orders. Eshopbox helps you in payment reconciliation of multiple business models in Myntra:

  • Myntra JIT

  • Myntra PPMP

In this article, you will learn:

  • How to configure Myntra fees and payment terms in Eshopbox

  • How to upload Myntra payment report in Eshopbox

  • How Eshopbox reconciles Myntra fees

  • How Eshopbox reconciles Myntra payments

Follow the below steps to reconcile Myntra fees and payments in Eshopbox:

1. Configure fees

The first step is to configure your Myntra fee in the Eshopbox workspace. Learn how to configure fees in Eshopbox

2. Configure Myntra payment cycle

You need to configure Myntra’s payment (remittance) cycle in Eshopbox. The frequency at which Myntra makes payments to you would be based on your agreement with Myntra. Learn how to configure payment terms in Eshopbox

3. Book payments

You need to upload Myntra payment reports in Eshopbox based on your business model with Myntra to initiate reconciliation by following the below instructions:

Download payment report for Myntra PPMP

Follow the below steps to download the payment report for Myntra PPMP:

  • Log in to the Myntra partner portal using your credentials.

  • Click to the Reports and insights > Financial reports on the left side of the panel.

  • Click ‘Payments summary’, to see the payment dashboard.

  • You will see the amount disbursed, categorised as prepaid and postpaid orders in the ‘Payments till date’ card.

  • Myntra PPMP provides payment reports based on payment method:

    • Prepaid: These are prepaid orders for which the customer has made an electronic transaction using a credit card, debit card, UPI, etc.

    • Postpaid: These are postpaid orders for which the customer has paid using cash on delivery or digital wallets while receiving the product.

  • Click on the mode of payment for which you want the report. Now you will get the list of payment reports (UTR reports) released by the Myntra PPMP model.

  • Click on the download link to download the payment summary report.

  • Now, navigate back to the Eshopbox workspace > Payments.

  • Click on ‘Add payment’ on the top right corner of your screen.

  • Select the ‘Myntra PPMP’ template while uploading the payment report.

💡The amount you receive in your bank account should be the same as the total of the ‘Settled_Amount’ column value in the payment report of Myntra.

Reading Myntra PPMP payment report

The payment report contains all transactions settled by Myntra for the selected date range. Each row in the report represents the amount settled corresponding to a particular order. The settled amount equals the ‘amount paid by customer’ value minus the applicable fees and taxes. The journey of order decides whether the amount is paid to you or refunded to the customer. In case of successful delivery of the product, you will receive a net settlement after fees are deducted by the service provider from the amount paid by the customer.

For Myntra PPMP payment reconciliation, Eshopbox considers a combination of customer order ID & ESIN as unique reference ID. All transactions are recorded against this unique reference ID. Eshopbox will create a ‘suspense’ record if there is a difference between the settlement amount and the sum of payment and expenses calculated by Eshopbox from the payment report.

Download Payment report for Myntra JIT

Follow the below steps to download the payment report for Myntra JIT:

  • Log in to the Myntra partner portal using your credentials.

  • Click on the Settlements reports on the bottom left side of the panel.

  • Click on the Settlements tab.

  • Under filter Commercial type, select the type of business you are doing with Myntra.

  • Under filter Report type, select ‘payment advice’.

  • Under filter Version, select ‘all’

  • Select the Date range to show the payment records within the periods and select ‘apply’.

  • Click on the report link to download the payment advice report.

  • Now, navigate back to the Eshopbox workspace > Payments.

  • Click on ‘Add payment’ on the top right corner of your screen.

  • Select the ‘Myntra JIT' template while uploading the payment report.

💡The amount you receive in your bank account should be the same as the total of the ‘Net amount’ column in the payment advice sheet of Myntra.

Reading Myntra JIT payment report

For Myntra JIT payment reconciliation, Eshopbox considers a combination of customer order ID & ESIN as unique reference ID. All transactions are recorded against this unique reference ID. Myntra generates payment reports for JIT on monthly basis. This payment report includes:

  • Payment received against orders invoiced to Myntra.

  • Payment refunded to Myntra against returned orders via a gate pass.

  • Payment refunded to Myntra against quantity difference from expected invoiced quantity.

  • Expenses incurred against invoiced orders.

  • Claims reimbursed against faulty returns from Myntra.

Eshopbox will create a ‘suspense’ record if there is a difference between the settlement amount and the sum of payment and expenses calculated by Eshopbox from the payment report.

💡You may observe some orders still in ‘awaiting payment’ status with a partial tag. This is because there is a quantity difference between the invoiced quantity and the actual quantity in the payment report. All order payments related to that invoice would be affected. Eshopbox recommends comparing the invoice generated during order fulfilment and invoice details in the payment report and raise a dispute to Myntra in case of any discrepancy.

4. Reconcile expenses

Eshopbox will match the provisional fee with the actual fee deducted by Myntra, and assign it one of the following fee statuses:

  • If the fee deducted by Myntra is the same as the provisional fee. The fee status will be ‘Reconciled’.

  • If the fee deducted by Myntra is more than the provisional fee, the fee status changes to ‘Disputed’.

  • If for any reason Eshopbox is not able to calculate the provisional fee and Myntra has deducted this fee, the fee status changes to ‘Failed'.

5. Reconcile payments

Eshopbox will match the expected payment (invoiced amount) with the actual payment received from Myntra, and assign it one of the following payment statuses:

  • If the payment received is equal to the provisional amount, the payment status will be ‘Paid’.

  • If payment received is less than the provisional amount, the payment status will be ‘Awaiting payment’. When no payment is received against an order, the payment status will be ‘Awaiting payment’ with a partial tag.

  • If you receive payment and then the same amount is refunded, the payment status will be ‘Refunded’.

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