A fixed fee is a small fee charged by Myntra to the sellers using Myntra’s marketplace. The Fixed fee is charged based on the item price of the product. In case of a canceled or returned order, the Fee will be refunded by Myntra.
Following is the Myntra rate card for Fixed Fee:
Calculating the fixed fee can be very tedious, as each order closes with a different amount of money. The good news is that Cointab’s system is automated and smartly calculates this fee automatically for every order by applying Myntra’s rate card to it. Cointab has made its rate card based on Myntra’s rate card to make the necessary calculations easy.
Rate card Configured by Cointab
When an order data is received by the system it allocates it according to the parameters in the rate card and calculates the fixed fees.
Each order detail is showcased in the above manner. This makes it very easy to read, compare and analyze. The Fixed Fee charged by Myntra in its reports is recorded first. Then the Expected fee is displayed, which is the fee calculated by the system. Then the difference is also shown and if Myntra overcharges a seller they can contact them and get it resolved. This data is shown for each order and then also compiled and shown in a summary making it easier to visualize the total losses due to any error.
The Output is as shown below:
- Total Fixed Fee
- This is the Amount given by Myntra as the Fixed fee.
- Fixed Fee – Correctly Charged
- When the Fixed fee amount calculated by Cointab is equal to the amount charged by Myntra in their reports. It is then recorded as Correctly Charged.
- Fixed Fee – Overcharged (Sale)
- The system calculates the difference between the Total Fixed fee and the correctly calculated total Fixed fee for every order. This row shows a total of all the overcharged Fixed fees in this calculation.
- Fixed Fee – Undercharged (Sale)
- The system calculates the difference between the Total Fixed fee and the correctly charged Fixed fee. This row shows a total of all the orders where the Fixed fee is undercharged.
- Fixed Fee Not Charged
- Here the system shows the total of all the orders where the Fixed fee has not been charged.
For refund Orders
- Fixed Fee – Correctly Charged (Refund)
- When an order is refunded the Fixed fee gets refunded to the seller. Here the system calculates the refund on Fixed 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.
- Fixed Fee – Overcharged (Refund)
- When an order is refunded the Fixed fee gets refunded to the seller. Here the system calculates the refund on Fixed 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 in the Fixed fee refund for all orders.
- Fixed Fee – Undercharged (Refund)
- When an order is refunded the Fixed fee gets refunded to the seller. Here the system calculates the refund on Fixed fees for canceled orders and whether Myntra has paid it to the seller correctly or not. Here the system calculates the refund on Fixed fees for canceled orders. The system shows the total amount that is underpaid in the Fixed fee refund for all orders.
- The system shows the total amount for each of these and the total count, which is the total number of orders under each fee and the difference.
To see all the other fee verification charges by Myntra, Click here.
