Accounting for selling through e commerce platform

I have joined a firm selling through flipkart. But I have no idea of ecomerce accounting. There is more than 100 orders per day which includes commission entries too and tcs/ tds and gst provisions. There is also entries of credit note and sales returns 

Please guide how to enter these in books of accounts. Step by step entries will be helpful.

Thanks

 

Replies (2)
Quick Summary
This discussion provides guidance on accounting for sales made through e-commerce platforms like Flipkart. It covers essential aspects such as managing daily orders, commission entries, TCS/TDS, GST provisions, and handling credit notes and sales returns. The aim is to offer step-by-step entries to help users accurately record these transactions in their books of accounts.

For GST

Purchase Entry

Purchase a/c dr
Cgst Input a/c dr
Sgst input a/c dr
To Creditors a/c

Sales entry

Debtors a/c dr
to CGST Output a/c
to SGST output a/c
to sales a/c

For GST payment set off

Cgst payable a/c dr
SGST payable a/c dr
to CGST ITC a/c
to SGST ITC a/c
to Electronic Credit Ledger a/c

For GST payment

CGST a/c dr
SGST a/c dr
to Bank a/c

For deduction of TDS(provision for tds)

Nature of transactions a/c dr
to party name a/c
to tds payable a/c

for tds payment

Tds payable a/c dr
to Bank a/c

Thanks for sharing! It was very helpful for me 

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