GSTR-1 vs Sales Register Reconciliation

Matching Between GSTR-1 and Sales to make GSTR-1 more accurate.

How to Configure the Reconciliation?

Step 1: Log in to Masters India GST Software with valid credentials then click Sign In.

Step 2: After Sign-In - 'Dashboard' will appear - click on the 'GST Reconciliation' module from the left Navigation Bar.

Step 3: Click on GSTR-1 Vs Sales Register ‘View Reconcile’ tab

Step 4: Click on the "Configure New Reco" button.

Step 5: Add configuration details to run the reconciliation job

1. The user can select the custom return period for GSTR-1 as shown below

1. Select Sales Register return period

1. Users need to select GSTINs from the drop-down, for which they want to execute the reconciliation on a regular basis

1. Users need to select a frequency for auto-reconciliation by clicking the drop-down.

1. Users can select the Start Date for Reconciliation.

2. Users can select a time to Start reconciliation.

3. Segregated by GSTIN checkbox: In case a user has multiple registrations and wants to submit a job separately for all their GSTIN, the user can select this checkbox.

Note: Preferably, we ask users not to select the checkbox to get results for all their business units under a single Job

1. Buffer Tax Value: A tax tolerance or threshold value a user can input according to their business operations.

2. Buffer Taxable Value: It is a taxable tolerance value or taxable threshold value a user can input according to their business operations.

Step 7: After clicking the 'Submit' button, the user will be redirected to the Job list page, which will mention the serial number of jobs and their GSTIN along with other details.

Reconciliation Reports

'Download' Button: The user can click the "Global Download" button on the top right corner to get Reconciliation Reports 'Consolidated Reports' or 'Vendor Wise Summary Report

Consolidate Reports

This is an overall consolidated report of the reconciliation performed, where the user can get Invoice-Level-Wise (both GSTR-1 and sales register) bucket segregation of Invoices. This includes all the invoices users who participated in the reconciliation.

Section Wise Summary Report

It is a report containing all unique vendors and their status according to GSTR-1, Sales Register & Reconciliation. In other words, the system will generate a summary that will provide values against each GSTIN present in GSTR-1, Sales Registers, Match, Mismatch, Not Present in PR, Not Present in 1, and Invoice Number Mismatch.