Myntra charges a commission fee to the sellers for selling on the Myntra marketplace. This Fee is charged for every order. There is no separate rate card for this fee given by Myntra. Based on categories and Brand names this fee will be charged differently and is mentioned in the Myntra settlement report. It is completely refundable for return orders in the Reversal PG Settlement Report. Since there is no Commission percentage, one has to calculate the amount based on the percentage given in the Myntra reports.
The Commission percentage and Total commission are taken from the report and shown here for comparison. Then the system takes the percentage and calculates the expected commission fee based on the item price. Then it finds the difference between the expected and reported commission fees if any, and displays it. This can help a seller identify if Myntra has made any errors. This data is then summarized and shown as a whole.
The Output is as follows:
For Forward Settlement
The Result displays:
- Total Commission Fee
- The Amount given in the Myntra reports as the Commission fee is recorded here.
- Commission Fee – Correctly Charged
- When the Commission fee amount calculated by Cointab is equal to the amount charged by Myntra in their reports, It is highlighted as Correctly Charged Commission fee.
- Commission Fee – Overcharged (Sale)
- The system calculates the difference between the Total Commission fee and the correctly calculated total Commission for every order. This row shows a total of all the overcharged Commission fees in this calculation.
- Commission Fee – Undercharged (Sale)
- The system calculates the difference between the Total Commission fee and the correctly charged Commission fee. This row shows a total of all the orders where the Commission fee is undercharged.
For refund Orders
- Commission Fee – Correctly Charged (Refund)
- When an order is refunded the Commission fee gets refunded to the seller. Here the system calculates the refund on Commission fees for canceled orders and whether Myntra has paid it to the seller correctly or not. The system shows the total amount that is Correctly paid.
- Commission Fee – Overcharged (Refund)
- When an order is refunded the Commission fee gets refunded to the seller. Here the system calculates the refund on Commission fees for canceled orders and whether Myntra has paid it to the seller correctly or not. The system shows the total amount that is overpaid by Myntra in the Commission fee refund for all orders.
- Commission Fee – Undercharged (Refund)
- When an order is refunded the Commission fee gets refunded to the seller. Here the system calculates the refund on Commission fees for canceled orders and whether Myntra has paid it to the seller correctly or not. Here the system calculates the refund on Commission fees for canceled orders. The system shows the total amount that is underpaid by Myntra in the Commission fee refund for all orders.
To see all the other fee verification charges by Myntra, Click here.