GSTR-2A vs Purchase Register Reconciliation
Matching Between GSTR-2A and Purchase to make GSTR-2A more accurate.
Last updated
Matching Between GSTR-2A and Purchase to make GSTR-2A more accurate.
Last updated
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-2A Vs PR Register ‘View Reconcile’ tab
Step4: Click on Configure New Reco
Step5 (A): Return Period- User can select the custom return period for Purchase and 2A as shown below
Step5 (B): Select 2A return period
Step6: Select Businesses - User can 'Select GSTIN's from the drop down, for which they want to execute the reconciliation on a regular basis
Step7: Frequency - User can select the frequency for Auto- reconciliation by clicking the drop down.
CONFIGURE RECO JOB
Step8: Start Date- User can select the Start Date for Reconciliation.
Step9:Start Time- User can select time to Start reconciliation.
Step10: 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
Step11: 2A Refresh Time- A user can choose a time to refresh their 2A for all the business units at a go using this option. **Please make sure to have at least 3 hours of Gap in 2A Job Submission & Reconciliation Job Submission so that updated 2A can participate in the reco.
Step12: FTP Settings- in case user is using FTP Mechanism, user need to select below FTP options.
Import data from FTP
2) Save Reports from FTP
3) Select FTP settings (Drop down to select different FTP settings)
Step13: Auto Accept Rules - Select to Auto Accept any B2B/CDN mismatched invoices. User can select different options under B2B/CDN to Accept Invoices with these mismatched details
Step14: Buffer Tax value- It is a tax tolerance value or tax threshold value a user can input according to their business operations.
Step15: Buffer Taxable Value - It is a taxable tolerance value or taxable threshold value a user can input according to their business operations.
Step16:User can select Reconcile CFS -Y only option to reconcile data having Counter party filling status with Y
Step17: 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 GSTR2A and Purchase 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
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 Date mismatch - If the Invoice Number is the same for Financial Year and date are different for the same Invoice.
Note Date mismatch - When the Note Number is the same for Financial Year and date are different for the same Invoice then this error may occur
Place of Supply Mismatch - It determines the if the nature of the transaction is wrong then the user may face this error.
Invoice Value mismatch - If there is a mismatch in Invoice Value of Vendor’s and your Invoice, the system will throw the Invoice in this bucket.
Taxable Value mismatch - If there is a mismatch in Taxable Value of Vendor’s and your Invoice, the system will throw the Invoice in this bucket.
CGST mismatch - If there is a mismatch in the Intra-State Tax of Vendor’s and our Invoice.
SGST Mismatch - If there is a mismatch in the Intra-State Tax of Vendor’s and our Invoice.
IGST Mismatch - If there is a mismatch in the Inter-State Tax of Vendor’s and our Invoice.
Cess mismatch - If there is a case where there is a discrepancy between Cess Value present in the Vendor Invoice and in Our Invoice.
Not Present in GSTR – 2A - 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 i.e. your GSTR 2A
Invoice Number Mismatch - It is a very special column or bracket which contains all those invoices where my rest of the details are matching i.e. Supplier GSTIN, Taxable Value, Tax Value etc: but Invoice Number is not matching.
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.
Non-Reconcile - This bucket consist of multiple type of invoices which includes amendment Invoices uploaded by the supplier due to which B2B and B2BA both are coming in the same Financial Year,therefore, we have implemented a logic where B2BA will be reconciled with invoice present in Purchase Register & B2B will be sent to Non - Reconcile bucket. Also, this bucket contains those invoices where "Return Submit Status" is coming for an invoice as "Y" & "N.
Probable Matched: User can find the Invoices that are Probable matches. Either one or few of the details matching and rest details are not matching. It gives the flexibility to the user to take Action on such invoices
Linked Invoice - It is noticed that sometimes there are few invoices appearing in “Not Present in GSTR 2A” & “Not Present in PR” bucket due to multiple mismatch reasons. Now to reduce the mismatches in both the buckets we have provided a functionality to the user where they can force match those invoices according to their convenience and can also preview the required details on the screen before force matching of invoices.
Now, in case a user wants to De-Link the invoices which he/she might had linked earlier, the option for the same is also available, after executing of De-Link functionality, invoices will be transferred to their origin bucket
● User can view and download Purchase data , GSTR2A 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 purchase and gstr2a 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
Consolidate Reports: This is a consolidate report where a user can get Invoice Level Wise (Both 2A &PR) bucket segregation of Invoices. This includes all the invoices user have accepted or have forced Match.
Vendor Wise Summary Report: This is a report containing all unique vendors and their status according to 2A, PR & Reconciliation. In other words, a summary will be generated by the system which will provide values against each GSTIN present in 2A, PR, Match, Mismatch, Not Present in PR, Not Present in 2A, Invoice Number Mismatch, & Not Reconcile.
● 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 GSTR2A and PURCHASE and can download in excel format
Users can use the Bulk operations feature in the following cases:-
BULK ACCEPT- If a user wants to accept multiple invoices at once.
BULK DE-LINK- If a user wants to de-link multiple invoices at once.
BULK REMARK- If a user wants to update remarks on multiple invoices at once.
BULK FORCE MATCH- If a user wants to force match multiple invoices at once.
Go to the Reconciliation job list, and click on the Action button for the reconciliation job you want to operate.
Select the Bulk Job option from the list.
Once the side screen opens for the Bulk operation, click on the export button and select the required action file to download the sample template of the same.
Once the file is downloaded, prepare the file by entering the details as per the headers provided and save it.
Now come to the Masters India Portal again and click on the Upload File Button to import your prepared data. Select the operation and import the file.
Once the file is imported, a job will be scheduled and the same will be reflected on the Bulk Operation listing. Once the job status is completed, the operation will be completed.
Sample Files for all the operations are present in the EXPORT section where the user can download and prepare data accordingly
1. Match Delink Button- Users can delink matched invoices through the delink button as per their requirement.
2 Invoice Date Buffer Range in Accept Rule-While reconciliation, users can provide a date range for accepting invoices which are mismatched on an invoice date basis
3 Credit/Debit Swap-If the client is accounting with different note types then there is a feature to make custom changes i.e. Swapping of Note types in profile settings.
