3 Simple Steps
How It Works
Versatile Accounting and Billing Software for Every Sector
What is Meesho payment reconciliation?
Meesho payment reconciliation is the process of matching each payout Meesho sends to your bank account with the orders, returns and deductions behind it. Because the payout is net of returns, shipping and other charges, penalties and taxes, the amount credited rarely equals your sales. hisabkitab imports the reports from the Meesho Supplier Panel and accounts for every deduction, so you can see what you actually earned on each order.
Why doesn’t my Meesho payout match my sales?
The gap between your Meesho sales and the money in your bank usually comes from:
Returns and RTO (return to origin) orders that reverse the sale and may carry return shipping charges
Shipping and other platform charges deducted from the payout
Claims, penalties and adjustments raised in later payment cycles
GST TCS at 0.5% of the net taxable value and income tax TDS under Section 194-O at 0.1%
Orders delivered in one payment cycle but settled in the next
How to reconcile Meesho payments in hisabkitab
Each payment cycle takes a few steps:
Download the payment report and the tax invoice report from the Meesho Supplier Panel.
Import both reports into hisabkitab.
Sales, returns and deductions are posted with the correct GST, ready for GSTR-1 and GSTR-3B.
Match each payout to its orders and see which orders are short paid or still pending.
Claim the TCS credit in your GST return and keep the TDS ready for your income tax return.
How Meesho sales and deductions are recorded
Item
What it is
How it shows in your books
Order value
The price the customer paid for your product
Sales with GST, reported in GSTR-1
Returns and RTO
Orders returned by the customer or not delivered
Sales return or credit note against the original sale
Platform and shipping charges
Charges Meesho deducts from your payout
Expenses, with input tax credit where GST is charged on an invoice
GST TCS
0.5% collected by Meesho under Section 52 of the CGST Act
TCS receivable, credited to your electronic cash ledger
Income tax TDS
0.1% deducted under Section 194-O
TDS receivable, claimed in your income tax return
Payout
The amount credited to your bank
Bank receipt matched to the orders it covers
GST rules for Meesho sellers
Meesho collects TCS under Section 52 of the CGST Act at 0.5% of the net taxable value of your supplies, a rate that applies from 10 July 2024, and reports it in its GSTR-8 return by the 10th of the following month. Once you accept these entries on the GST portal, the amount is credited to your electronic cash ledger. Your Meesho sales still have to be reported in your own GSTR-1 and GSTR-3B, which is why importing the tax invoice report into your accounting software matters.
Who uses Meesho reconciliation in hisabkitab?
Meesho-first sellers
Sellers of apparel, home goods and accessories with high return rates use hisabkitab to see which orders, returns and deductions are eating into their margin.
Multi-marketplace sellers
Sellers who also list on Amazon and Flipkart import every marketplace into one set of books, so GST returns and profit reports cover all channels together.
FAQs
Why doesn't my Meesho payout match my sales?
Can I import Meesho reports directly into hisabkitab?
Does it handle returns and RTO orders?
Will my Meesho sales show up in my GST reports?
I also sell on Amazon and Flipkart. Can I manage them together?
Which plan is right for Meesho sellers?
How often does Meesho pay sellers?
How do I claim the TCS deducted by Meesho?
What is the TDS deducted by Meesho?
Can I see profit for each Meesho order?
