GSTR-1 vs Sales Register Reconciliation

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

Steps1: Login to Enterprise with valid credentials then click Sign In.

Step2: After Sign-In - 'Dashboard' will appear - click – 'GST Reconciliation' tab on left

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

Step 4: Click on Configure New Reco

Step 5 (A): Return Period- User can select the custom return period for GSTR-1 as shown below

Step 5 (B): Select Sales Register return period

Step 6: Select Businesses - User can 'Select GSTIN's from the drop down, for which they want to execute the reconciliation on a regular basis

Step 7: Frequency - User can select the frequency for Auto- reconciliation by clicking the drop down.

CONFIGURE RECO JOB

Step 8: Start Date- User can select the Start Date for Reconciliation.

Step 9:Start Time- User can select time to Start reconciliation.

Step 10: Segregated by GSTIN- In case user have multiple registrations and wants to submit a job separately for all their GSTIN, user can select this checkbox.

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

Step 11: Buffer Tax value- It is a tax tolerance value or tax threshold value a user can input according to their business operations.

Step 12: Buffer Taxable Value - It is a taxable tolerance value or taxable threshold value a user can input according to their business operations.

Step 13: After clicking - 'Submit' button , user will be redirected to Job list page - mentioning the Serial Number of Jobs and their GSTIN along with other details.

On Listing screen, We can see different options in report section as described below

1 SUMMARY VIEW- In this , User can view and download summary details of GSTR 1 and SALES SECTION.

2 LEDGER VIEW- In this, user can use send mail option for the mismatched entries to the respective suppliers. Here user can take reco actions on the mismatched entries as well.

3 DOCUMENT VIEW- User can view participation of invoices ,there matched,mismatched entries after reco execution in different buckets accordingly.

4 EXECUTE- To execute reco ,user need to use this button present in action section.

5 DELETE- User can use delete button present to clear and delete reco data . Since it is very critical option so, it has OTP based authentication which can only be used by admin.

6 EDIT – User can edit job through edit option

7 VIEW- User can view configured job through view option

Reconciliation 'Bucket/ Tabs and their meaning

While carrying out reconciliation you may find invoices in below buckets namely:

Matched - When your vendor and you, both have entered the invoice and the entries are getting matched between both the documents taking along Supplier GSTIN & Invoice Number as the base fields, in other words, the system will first check for Supplier GSTIN & Invoice Number, if these two are matching, then only system will proceed further to check whether other fields are also matching or not.

Mismatch - When your vendor and you, both have entered the invoice, but there are certain mismatches in the content/ values/ data of the same invoice, then the system will throw those invoices in these buckets. Although, there are sub-buckets as well which a user can view in this Section.

Invoice Number and Date mismatch - If the Invoice Number is the same for Financial Year and date are different for the same Invoice.

Not Present in GSTR – 1 - As per the naming convention, this bracket contains all those invoices which is present in your purchase register but missing in counter party filed GSTR – 1

Accepted Records - We have provided an option to the user where they can accept the records from different buckets for their known match / mismatch bucket, this will help them to reconcile the rest of the data.

DOCUMENT VIEW FEATURES

● User can view and download Sales data , GSTR1 Data from respective buckets present in document view

● There is summary tab provided in each buckets So that user can also view on document view as well

● User can select invoice type from the option provided to view data accordingly

● Option of filters in each columns field provided such as INVOICE NUMBER,SUPPLIER GSTINs

● User can view match status of each invoices in sales and gstr1 buckets also which makes user easy to go to the respective bucket firmly

Step22: 'Download' Button: User can click global 'Download' button on the top right corner to get Reconciliation Reports 'Consolidated Reports' or 'Vendor Wise Summary Report

Reconciliation Reports

Consolidate Reports: This is a consolidate report where a user can get Invoice Level Wise (Both 1 and sales) bucket segregation of Invoices. This includes all the invoices user have accepted or have forced Match.

Section Wise Summary Report: It is a report containing all unique vendors and their status according to 1, SR & Reconciliation. In other words , a summary will be generated by the system which will provide values against each GSTIN present in 1, SR, Match, Mismatch, Not Present in PR, Not Present in 1, Invoice Number Mismatch.

DOCUMENT VIEW

LEDGER VIEW FEATURES-

● User can send mail to respective suppliers as a notifications for the mismatched entries status

● User can send mails to multi suppliers at once or one by one

● User can see mail status in view mail logs and can download it.

● User can take actions such as accept/reject/force-match and delink for the respective mismatched entries if required.

SUMMARY VIEW FEATURES-

● User can view summary of GSTR-1and SALES and can download in excel format

LEDGER VIEW