Online shopping sites accounting

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Amit Kumar (Querist)

29 October 2015 hi, we have two only shopping sites which main company is different. can you suggest that what should we manage the accounting of theses two websites and main company. our one website is pansarishop.com and second is 247openmarket.com. Please suggest me.

Amol S Joglekar

Amol S Joglekar (Expert)

29 October 2015 Then what is your role with MAIN COMPANY? Are you distributing agent?

Amit Kumar

Amit Kumar (Querist)

29 October 2015 our website is a market place website. we and another seller sell their products.

Amol S Joglekar

Amol S Joglekar (Expert)

29 October 2015 Then what is the problem?

Open 2 accounts in your books viz.
sales through pansarishop.com,
sales through 247open market.com

and account for the sales.

All the best.

Ashwani Narnoli

Ashwani Narnoli (Expert)

29 October 2015 Simply do your accounting in one company. Create two separate Vouchers for both websites if you are using tally.
It should be income and not sales.

Amol S Joglekar

Amol S Joglekar (Expert)

30 October 2015 @ Ashwani : As I take it from the language of the query.... the sales orders are getting generated through 2 websites. The querist said ... it sell its products through these orders....

so it has to be sale transaction.

Ashwani Narnoli

Ashwani Narnoli (Expert)

30 October 2015 As he said it is in the marketplace, then it would be Commissiion only and not sales.

Amol S Joglekar

Amol S Joglekar (Expert)

30 October 2015 In the market place?.... OR "market place web site?"

Amit Kumar

Amit Kumar (Querist)

30 October 2015 we will work on commission base and also sale our own products. and our website is market place website. Can we upload the inventory of third party in tally.

Ashwani Narnoli

Ashwani Narnoli (Expert)

30 October 2015 I am also looking after the E-commerce Business. Maintain Inventory for own products only in tally and income from such shall be recognised as sales only. For Marketplace vendors, book only commission and not inventory on tally. However, for your working purpose you can maintain the list of inventory of marketplace vendors on excel.

Amol S Joglekar

Amol S Joglekar (Expert)

02 November 2015 There you are Ashwani.....it is quite ok now

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