Everything You Need to Know about GST Reconciliation Software

 

When you search on the internet for online accounting software for startups or small businesses, you find many resources. However, there are only a few that are the best and straight-to-the-point. It becomes a challenge to shortlist the best accounting software that will fulfill all or the most of your business requirements.

In  India  , as per  GST guidelines ,  it  is  the duty of  the  business  itself  that requires  them  to  verify  their  ITC  claims  while  submitting their  monthly  returns  to tax authorities.  Business has to declare their sales in form GSTR 1, and similarly their purchases in GSTR 2A & 2B reports.

The  complete  summary of  GSTR 1 and  GSTR 2A /2B then calls for  final  monthly or  quarterly return as  GSTR 3B. The options  to  file  GST  return  on monthly  or  quarterly basis  depends  on the  annual turnover of  the  business.  To  avoid  the  risk of  losing  ITC every month  due  to mismatch of   sales purchase  data  from  GST  SITE,  now  various  software  have  been  available to  solve  this issue.

GST Reconciliation & mismatch report

ITC  mismatch  report  can be  made  from  any ERP  like  TALLY  PRIME  through  various  third party  tools such as  Tally Konnect. The small business accounting software allows you to exactly do that by simplifying the updating of financial transactions of your business. Download the software Tally Konnect and Prepare the GSTR 2B Reconciliation report that helps you reconcile the balances of sales tax and main accounts. Get mismatch within Seconds.

We provide various GST reports in tally prime to file GST returns very smoothly with 100% accuracy. You can view GSTR-2A & 2B in the report format with tax computation details. This reconciliation software will not only eliminate the scope of error due to human intervention but also save the time.