Accounting Services in Karnataka for D2C Brands, Marketplace Sellers and Growing Companies
Om Accounting provides bookkeeping, GST compliance, marketplace settlement reconciliation and investor-grade monthly reporting for businesses across Karnataka — with most of that work sitting in Bengaluru, where funded D2C brands and marketplace sellers need numbers that survive a board meeting rather than numbers that merely close the month. We have run since 2017, work with 40+ clients, and reconcile roughly 15 to 18 lakh order-level transactions a month.
Karnataka is different from the other states we serve, and it is worth being specific about why. Elsewhere our clients mostly need accurate books and clean compliance. In Bengaluru a large share of them also need to explain those books to somebody else — an investor, a board, a lender, an acquirer. That changes what the monthly close has to produce.
| What we handle | Bookkeeping, GST, marketplace reconciliation, month-end close, unit economics and investor MIS |
|---|---|
| Who it is for | Funded and bootstrapped D2C brands; Amazon, Flipkart, Myntra and Meesho sellers; trading and manufacturing companies |
| Main Karnataka regions | Bengaluru, Mysuru, Hubballi-Dharwad, Mangaluru, Belagavi, Ballari |
| How we work | Remotely, from our two Jaipur offices, on your existing accounting software |
| Reporting | Monthly pack delivered between the 15th and the 20th |
| Pricing | Quoted against your actual transaction volumes, not a price list |
Why unit economics fall apart without settlement reconciliation
This is the heart of it for a Bengaluru D2C brand, and it is the reason so many decks contain numbers the books cannot support.
Contribution margin, CAC payback and channel profitability all depend on knowing your true net revenue per order and your true cost per order. If your books record the marketplace settlement as revenue, you do not have either. The settlement is gross sales less returns and refunds, less RTO, less commission, less shipping and fulfilment, less collection and payment fees, less other adjustments, less TCS and TDS withheld. Every one of those is a real cost of selling on that channel, and every one of them disappears if you book the bank credit.
The practical consequence is that a brand can be confident it makes money on Amazon and lose money on it, or the reverse, and not find out for a year. Reconciling the settlement to order level is what turns unit economics from an estimate into a measurement.
Monthly reporting that an investor or a lender can actually read
Where a client is funded, or heading that way, the monthly pack has to do more than close the books. We build out the reporting so that revenue is stated net and gross with the bridge between them visible, channel and product profitability are calculated after all marketplace deductions, returns and RTO are shown as a rate rather than a lump, inventory and cash conversion are trackable month to month, and burn and runway are stated on figures that reconcile to the bank.
Where it is useful we work as a Virtual CFO alongside that — cash-flow forecasting, working-capital management, pricing and margin analysis, and preparing the schedules a diligence process will ask for before it asks.
Karnataka GST and where your stock actually sits
Under GST, holding inventory in a state creates a place of business there. Karnataka carries significant marketplace warehousing around Bengaluru — the Hoskote and Soukya Road corridor and the belt towards Hosur — so a seller registered in another state can acquire a Karnataka registration obligation simply because a marketplace moved stock into a fulfilment centre.
The reverse catches Karnataka-registered sellers when their stock moves out of state. Getting this wrong is not a filing technicality: it decides where the supply is treated as originating, whether you charge CGST and SGST or IGST, and whether your input tax credit chain holds together. We track where your inventory actually sits as part of the monthly work rather than assuming an old registration map still holds.
Alongside that runs the ordinary calendar — GSTR-1 and GSTR-3B each period, input tax credit reconciled against GSTR-2B rather than assumed, e-way bills where goods move, TDS where applicable, and the annual return where it applies.
Marketplace and settlement reconciliation, platform by platform
Amazon
Settlement reports reconciled line by line against sales, returns, replacements, FBA and Easy Ship fees, storage and long-term storage charges, advertising deductions and reimbursements, then matched to the bank credit and to the TCS reflected in your GST portal.
Flipkart, Myntra and Meesho
Each platform reports differently, settles on its own cycle and gives the same deduction a different name. Several of our clients sell on three or more platforms at once, and the value is in seeing them side by side in one ledger rather than in four spreadsheets that never agree.
Shopify, WooCommerce and your own website
D2C revenue arrives through payment gateways rather than marketplace settlements, so the reconciliation runs gateway payout to order to bank. Discounts, shipping collected from the customer, courier charges paid out and abandoned-cart recovery all need to land in the right place or your contribution margin is fiction.
Payment gateways and cash on delivery
Razorpay, Cashfree, PayU, PhonePe and card settlements each net their fees before payout. COD remittances arrive from couriers on a separate cycle with failed deliveries and RTO netted against them. Unreconciled COD is one of the most common places we find amounts a business had written off as unexplainable.
The two tax numbers that decide your ecommerce margin
GST TCS under section 52 is 0.5 percent — 0.25 percent CGST plus 0.25 percent SGST on intra-state supplies, or 0.5 percent IGST on inter-state. It came down from 1 percent on 10 July 2024, is reported by marketplaces in GSTR-8 by the 10th of the following month, and lands in your electronic cash ledger. Unreconciled, that credit can sit unclaimed indefinitely.
Income-tax TDS under section 194-O is 0.1 percent, down from 1 percent on 1 October 2024, with a five lakh rupee threshold for individuals and HUFs with PAN and Aadhaar linked and no threshold for companies and LLPs.
Bookkeeping, month after month
Underneath all of it sits ordinary bookkeeping done properly: sales and purchase entry, expense recording, vendor and customer ledgers, bank and credit-card reconciliation, inventory movement and landed cost, accruals and prepayments, and the control-account checks that stop a small error becoming a year-end problem.
Bank reconciliation is the backbone rather than a formality. We match every line against the statement instead of accepting the accounting software’s automatic match, because auto-match is confident and frequently wrong, and a ledger that has never been tied to a statement will not survive diligence.
Where we work across Karnataka
We work remotely with businesses across the state — Bengaluru and the surrounding industrial belt, Mysuru, Hubballi-Dharwad, Mangaluru, Belagavi, Ballari, Tumakuru and Shivamogga. Nothing about the engagement changes with the city. The underlying marketplace method is set out in more depth on our ecommerce accounting page, and if you would rather hand over the whole finance function, outsourced accounting covers how that works.
What we handle right now
- 40+ clients, approximately 38 of them ecommerce businesses
- Roughly 15 to 18 lakh order-level ecommerce transactions reconciled each month, and more in festive periods
- GST accounting and filing across approximately 60 to 70 GSTINs
- Amazon, Flipkart, Myntra and Meesho, plus D2C and own-website channels
- A team of 15+ accounting and finance professionals, including Chartered Accountants and CPA professionals
How the month actually runs
Marketplace and sales data is collected by the 8th, so GSTR-1 can be filed by the 11th. Bank and accounting data is in by the 14th. Your reporting pack is delivered between the 15th and the 20th. The order matters: collecting marketplace data after the GST deadline rather than before it is how businesses end up filing from figures nobody reconciled, then spending the following year amending them.
What lands in your inbox each month
- Profit and loss, and balance sheet
- Marketplace-wise sales, stated gross and net with the bridge between them
- Settlement reconciliation
- Marketplace fees analysis
- Returns and RTO analysis, as a rate rather than a lump
- GST, TCS and TDS reconciliation
- Bank reconciliation
- Receivables and payables
- Inventory and cash conversion
- Channel-wise and product-wise profitability
When your books are months behind
Common in fast-growing companies, and worth saying at the start rather than discovering at diligence. Clean books take one to two weeks to bring into a running cycle. A backlog of six months or more takes two to six weeks or longer depending on volume, because we rebuild from source documents and reconcile rather than rolling forward figures we cannot verify. We would rather take the extra fortnight and start from a correct opening position than deliver a fast first month that carries someone else’s errors forward.
Who you are actually hiring
Om Accounting was founded in July 2017 by Bhagirath Kirad, who has worked in accounting and finance professionally since 2007. He holds a B.Com and an M.Com, and an MBA in Finance and Marketing. The firm is now a team of 15+ accounting and finance professionals, including Chartered Accountants and CPA professionals alongside B.Com and M.Com qualified accountants and experienced bookkeeping specialists.
Work is organised by function — bookkeeping, reconciliation, GST, ecommerce accounting, review and quality control — so your file does not depend on one person’s attendance, and the person recording your transactions is not the only person who looks at them before you do.
Talk to us about your books
Tell us what you sell, which platforms you are on, roughly how many orders a month, whether you are reporting to investors, and where the books stand today. That is enough for us to say whether we are the right fit.
Call or WhatsApp +91 80944 44888, or write to cs@omaccounting.in. We work Monday to Saturday, 9 AM to 8 PM IST, from 201, Second Floor, 27B Dhuleshwar Garden, C-Scheme, Jaipur 302001 and Patrakar Colony, Mansarovar Extension, Jaipur.
Frequently Asked Questions
Do you have an office in Bengaluru or anywhere in Karnataka?
No. Our offices are in Jaipur and we work with Karnataka clients remotely, which is how most accounting is delivered in India now. Ledgers, bank feeds and marketplace reports are all digital. What decides whether your books are right is whether your accountant has reconciled marketplace settlements before — not the distance to their desk.
Can you produce monthly reporting my investors will accept?
Yes, and it is a large part of the Bengaluru work. That means revenue stated gross and net with the bridge visible, channel and product profitability calculated after all marketplace deductions, returns and RTO expressed as a rate, inventory and cash conversion tracked month to month, and burn and runway stated on figures that reconcile to the bank.
Why do my unit economics never match my accounts?
Almost always because the books record the marketplace settlement as revenue. The settlement is already net of commission, shipping, fees, returns and withheld tax, so both your true net revenue per order and your true cost per order are missing. Reconciling settlements to order level is what makes contribution margin and CAC payback measurable rather than estimated.
My stock is in an Amazon fulfilment centre near Bengaluru. Do I need Karnataka GST registration?
If your inventory is held in a warehouse in Karnataka, that generally creates a place of business in the state and a registration requirement there, even if your company is registered elsewhere. The same applies in reverse when a marketplace moves your stock out of state. We track where your stock actually sits as part of the monthly work.
We are raising a round and our books are behind. Can you clean them up in time?
Usually, and the honest answer depends on volume. Six months or more of backlog takes two to six weeks or longer, because we rebuild from source documents and reconcile rather than rolling figures forward. Tell us the timeline at the start and we will say whether it is achievable rather than discovering it halfway.
Which accounting software do you work in?
Zoho Books, QuickBooks, Xero, Tally and TallyPrime, and spreadsheet-based workflows. If you are already on a platform that works for you, we adapt to it rather than migrating a working ledger for our own convenience.
Do you handle Amazon, Flipkart, Myntra and Meesho together with our own website?
Yes. Marketplace settlements and gateway payouts reconcile differently, and the point of handling them together is that you can compare channels properly instead of maintaining separate spreadsheets that never agree.
Can you reconcile COD and payment gateway settlements?
Yes. Gateway payouts net their fees before they reach you, and COD remittances arrive from couriers on a separate cycle with failed deliveries and RTO netted against them. Both are reconciled to order level and then to the bank.
Do you file GST returns as well as maintaining the books?
Both, and they are handled together. Bookkeeping that is never reconciled against the returns actually filed is where most GST notices begin.
What does it cost?
We quote after reviewing your actual volumes. Pricing depends on order volume, the number of platforms and payment gateways, how many GST registrations are involved, the reporting you need, the software, and whether there is a backlog to clear first.