Accounting Services in Mumbai for Ecommerce Sellers and Growing Businesses
Mumbai and the wider Maharashtra belt hold a large share of India’s ecommerce sellers, D2C brands and trading businesses — and a large share of the messiest books we are asked to rebuild. Not because the businesses are badly run, but because marketplace accounting is a reconciliation problem dressed up as bookkeeping, and most general accountants treat the settlement that lands in the bank as though it were the sale.
Om Accounting has run since 2017 and works with 40+ clients, of which approximately 38 are ecommerce businesses. We reconcile in the region of 15 to 18 lakh order-level transactions every month and handle GST accounting and filing across roughly 60 to 70 GSTINs. This page explains what that work looks like for a Mumbai business, what the Maharashtra-specific traps are, and how an engagement actually runs.
We are based in Jaipur and we work with Mumbai remotely
We should be straight about this before anything else, because plenty of accounting websites are not. Om Accounting does not have an office in Mumbai. Our two offices are in Jaipur, and we work with Mumbai clients remotely — which is how the overwhelming majority of accounting is now delivered anywhere in India.
In practice that changes very little. Your ledgers are in the cloud, your bank feeds are digital, your marketplace reports download the same way from Bengaluru or Bhiwandi, and your questions get answered faster over a call and a shared folder than they would by someone driving to Andheri. What matters is whether the person doing the work understands marketplace settlements. Where you both happen to sit matters far less than the industry pretends.
If you would like to meet in person, you are welcome at either Jaipur office. If you would rather never have that conversation, that is completely normal too.
The number in your bank is not your Mumbai sales
This is the single most expensive misunderstanding in ecommerce accounting, and it is the reason most sellers do not know their real margin.
Say eight lakh lands in your account from a marketplace. It is tempting to book eight lakh of sales. What actually happened is a chain: gross sales, less returns and refunds, less RTO, less marketplace commission, less shipping and fulfilment charges, less collection and payment fees, less other adjustments, less TCS and TDS withheld, equals the settlement you received.
Book the bank figure and four things go wrong at once. Your revenue is understated, so your GST return does not match your marketplace reports. Every fee you paid disappears, so you cannot see what each channel actually costs you. The tax withheld on your behalf goes unclaimed. And channel-wise profitability becomes impossible to calculate, which means you cannot tell whether Meesho is making you money or quietly costing you money.
Our work is to account for every step of that chain, every month, per marketplace.
Marketplace and settlement reconciliation
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 uses its own names for the same deduction. Multi-channel sellers are where reconciliation stops being clerical work: several of our clients sell on three or more platforms at once, and the whole point is to see them side by side in one set of books rather than four disconnected spreadsheets.
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 rather than settlement report to bank. Discounts, abandoned-cart recovery, shipping collected from the customer and courier charges paid out all need to sit in the right place or your gross margin is fiction.
Payment gateways and COD
Razorpay, Cashfree, PayU, PhonePe and card settlements each net off their own fees before payout, and COD remittances arrive from the courier on a different cycle again, with failed deliveries and RTO netted against them. Unreconciled COD is one of the most common places we find money that the business had written off as noise.
Maharashtra GST: the rule that catches sellers out
This one is genuinely Mumbai-specific and it is worth reading even if the rest of this page is not for you.
Under GST, holding stock in a state creates a place of business in that state. If you use Amazon FBA, Flipkart Smart Fulfilment or any marketplace fulfilment programme, and your inventory sits in a warehouse in the Bhiwandi or Navi Mumbai belt, you need a GST registration in Maharashtra — even if your company is registered in Gujarat, Rajasthan or Karnataka and you have never set foot in the state.
The reverse also catches Mumbai sellers: if you are registered only in Maharashtra and the marketplace moves your stock into a fulfilment centre in another state, you have created a registration obligation there. Sellers usually discover this when a notice arrives, not when the stock moves.
Getting this wrong is not a filing inconvenience. It affects 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 which states your stock actually sits in as part of the monthly work, rather than assuming your registration map is still accurate a year after it was set up.
The tax numbers that decide your ecommerce margin
Two deductions are taken out of your money before you ever see it, and both are creditable if they are accounted for properly.
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. Marketplaces report it in GSTR-8 by the 10th of the following month, and it appears in your electronic cash ledger. If nobody is reconciling your marketplace reports against GSTR-8, that credit can sit there unclaimed indefinitely.
Income-tax TDS under section 194-O is 0.1 percent, down from 1 percent on 1 October 2024. There is a five lakh rupee threshold for individuals and HUFs with PAN and Aadhaar linked, and no threshold at all for companies and LLPs.
Neither number is large on its own. Across a year of volume they are not small, and the businesses that never claim them are almost always the businesses whose books treat the settlement as the sale.
Bookkeeping, month after month
Underneath the marketplace work 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 small errors becoming a year-end problem.
Bank reconciliation is the backbone rather than a formality. We match every line against the statement rather than 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 is not a ledger.
Virtual CFO for Mumbai founders
Some businesses need more than accurate books. Where a Mumbai client is raising money, taking on debt, opening a second channel or trying to work out why a profitable P&L keeps producing an empty bank account, we work as a Virtual CFO: cash-flow forecasting, working-capital management, channel and product profitability, pricing and margin analysis, and the numbers an investor or a lender will ask for before they ask for them.
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, with several clients selling on three or more platforms at once
- 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 dates matter more than they look. Collecting marketplace data after the GST deadline rather than before it is how businesses end up filing from figures nobody reconciled, and then spending the following year amending them.
What lands in your inbox each month
- Profit and loss, and balance sheet
- Marketplace-wise sales
- Settlement reconciliation
- Marketplace fees analysis
- Returns and refunds analysis
- GST, TCS and TDS reconciliation
- Bank reconciliation
- Receivables and payables
- Inventory information
- Channel-wise profitability
It is built to be read by an owner making decisions, not filed away by an accountant.
When your books are months behind
This is normal and we would rather you said so at the start. 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 quietly carries someone else’s errors forward. Every month after that is built on the opening balance, so an opening balance nobody checked is a problem that grows.
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.
You still get one named person who handles your account and stays with it, so you are not re-explaining your business every month.
Talk to us about your books
Tell us what you sell, which platforms you are on, roughly how many orders a month, and where the books stand today. That is enough for us to tell you whether we are the right fit and what the work would involve. We quote after looking at your actual volumes rather than from a price list.
Call or WhatsApp +91 80944 44888, or write to cs@omaccounting.in. We work Monday to Saturday, 9 AM to 8 PM IST. Our offices are at 201, Second Floor, 27B Dhuleshwar Garden, C-Scheme, Jaipur 302001, and in Patrakar Colony, Mansarovar Extension, Jaipur.
Frequently Asked Questions
Do you have an office in Mumbai?
No. Our two offices are in Jaipur and we work with Mumbai clients remotely, which is how most accounting is delivered in India now. Your ledgers, bank feeds and marketplace reports are all digital, so the work is unaffected. You are welcome to visit either Jaipur office if you would like to meet in person.
Do you handle Amazon and Flipkart seller accounting for Mumbai businesses?
Yes, and it is the largest part of our practice. Approximately 38 of our 40+ clients are ecommerce businesses. We reconcile settlement reports line by line against sales, returns, commission, shipping and fulfilment fees, advertising deductions, TCS and TDS, and then to the bank credit — rather than recording the settlement as revenue.
I sell on Amazon FBA and my stock is in a Maharashtra warehouse. Do I need a Maharashtra GST registration?
If your inventory is held in a warehouse in Maharashtra, that generally creates a place of business in the state and a registration requirement there, even if your company is registered elsewhere and you have never visited. The same applies in reverse when a marketplace moves your stock into a fulfilment centre in another state. We track where your stock actually sits as part of the monthly work rather than assuming the original registration map still holds.
Can you reconcile Shopify and WooCommerce sales alongside marketplaces?
Yes. D2C revenue arrives through payment gateways rather than marketplace settlements, so it reconciles gateway payout to order to bank. We handle both in one set of books so you can compare channels properly instead of maintaining separate spreadsheets that never agree.
Do you handle payment gateway and COD reconciliation?
Yes. Razorpay, Cashfree, PayU, PhonePe and card settlements each net their fees before payout, and 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.
Do you provide MIS and channel-wise profitability reports?
Yes. The monthly pack includes marketplace-wise sales, fees analysis, returns analysis and channel-wise profitability, alongside the P&L, balance sheet and reconciliations. The point of the reconciliation work is that these numbers can actually be trusted.
My Mumbai business has books that are six months behind. Can you take it on?
Yes. Backlog cleanup is a normal part of onboarding. Expect two to six weeks or longer depending on volume, because we rebuild from source documents and reconcile rather than rolling figures forward. You get your first reporting pack once the opening position is settled.
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 software you use, and whether there is a backlog to clear first. A seller doing four hundred orders a month and one doing forty thousand are not the same engagement at any price.
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, so we do not split those two jobs between parties who never compare notes.
Which accounting software do you work in?
Tally and TallyPrime are the most common for our India-based work, and we also work in Zoho Books, QuickBooks, Xero 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.