Accounting and Taxation
Om Accounting offers a wide range of services, including accounting and taxation. These services encompass TCS Credit, GST return Filing, Ecommerce Payment Reconciliation, Selling fee, FBA fee, easy reconciliation border wise, profit analysis, orderwise reconciliation, and other related services.
GST return filing
As a business person, one of our priorities will be to do GST filing. A GST Return showcases details of the purchase, sales, tax collected on sales, tax paid on purchases. As a seller, it is mandatory to register for the GST if your business has a turnover of 20 lakh rupees(if selling goods).
Selling fee, FBA fee, Easy ship charges reconciliation border wise
We Handle all the accounting hassles for you including selling fee, FBA fee and Easy ship charges reconciliation border wise.
Order wise reconciliation
Amazon and Flipkart allow sellers to have a defined structure of payments. However, various payment modes such as COD, net banking, card payment, and others can affect the duration in which sellers receive payment.
Profit Analysis
Profit Analysis- Our Profit analysis services include
- Reconciliation of payment reimbursement against each order
- SKU Wise profitability
- Order id wise profitability and settlement
- Overall E-com portal Profitability
Ecommerce Payment reconciliation
In the typical process, sellers receive payment for orders through a specific sales channel payment cycle in marketplaces like Flipkart and Amazon. The marketplace pays the seller a lump sum amount at the end of the cycle, after filtering the payment with certain commissions, taxes, service charges, and penalties (in specific cases). This difficulty arises for sellers in keeping track and monitoring the amount they are supposed to receive. This is where Om Accounting Services comes in. We provide a sturdy system that manages all payment reconciliation for emerging sellers.
There could case like
- If a buyer raises a case, then amazon may hold the payment.
- In the case of a returned product, there could be held up in the payment or reverse the payment if prepaid.
- If you are in the FBA program and the buyer returns your product. Then this can complicate things as the returned product will go to the FBA center. And if the product is damaged then, it may be disposed of by amazon.
Reconciliation becomes tough for sellers; however, with our knowledgeable and experienced personnel, we can assist you with all of these problems.