For any business, transaction billing is one of the essential steps which is needed and appropriately followed. Billing is also one of the complex processes which quickly leads to miscalculations. Since billing and the invoicing option comes at the final stages while closing a transaction in a deal, hence it makes it the most crucial part of any business. As a result of GST compliance, new age GST billing software carefully carry out tax calculations, leaving no margin for errors.
Billing and Invoicing Software are Useful
An efficient invoicing and billing software system helps to have better control over accounting figures. It adds more power to finance expansion plans. There are convenient options to maintain daily accounts easily. Business owners can easily estimate their bills, which saves time and money. Therefore, GST billing software solutions are beneficial for business owners. In addition, day-to-day accounting is faster and without any errors.
What Is GST Billing Software?
Every accounting and the financial task becomes more manageable with the GST Billing software. They have advanced features for bookkeeping and data entry. The government of India, on 1st July 2017, introduced GST regulations. All the businesses in every field are now complying with GST regulations. If we start calculating GST on each product or service, it can turn into a slow as well as time-consuming task. Hence all the businesses across the country are now choosing GST billing software for their transactions. Most noteworthy they not only save time and money but also effort.
How Does it Help?
The traditional way of manually calculating bills and making invoices, not only created errors but was also time-consuming. At times it leads to mistakes in bookkeeping and record maintenance. Small or big industries have now started using billing & invoicing software to overcome the billing calculation problems. Finally, with the use of GST billing software, business owners can perform a variety of functions. The free or paid GST billing software includes invoicing, tax calculation, billing, bookkeeping, and much more. Similarly, it has reduced the need for manual data entry and ensures that every financial figure mentioned is precise.
Benefits of a using GST billing software
Ready to Use GST Invoice Templates
Ready-made GST invoice templates ensure that dealing with clients is easy. At Groflex.in, invoices report readily available in a GST compatible format with just a few clicks.
Control on Financial Data
Using an online billing system is necessary for GST. It keeps track of all the invoices sent and manage all the payments. Filing tax reports on Groflex is much more accessible with our integrated system and is a time saver.
Quick Payments
Mostly GST billing software keeps track of payments with specialized reports. Groflex accounting software keeps a tab each time in case an invoice is overdue. Clients get automated notifications for payment, which helps in timely return.
No Errors
All types of errors are omitted by quickly applying CGST, SGST, and IGST for every invoice.
Data is Safely Stored Online
Information is readily available anytime, anywhere, from any computer or tablet. Groflex GST billing software allows access to all your accounting data. Our cloud-based storage feature ensures uptight security on data stored online.
Things to Consider
A registered person under GST cannot claim any benefit of Input Tax Credit unless he possesses a GST invoice or a debit note. So it is important to have a correct GST invoice number. Otherwise, any error or mistake in the invoice can severely impact the buyer and seller both. Mainly, for this reason, GST billing software comes in handy, which reduces such errors. To understand the functioning of GST billing software in detail and to see how ready we are with the GST ready software, do check out our website, www.groflex.in.
Main Functions of GST Billing Software
In India, GST billing software is impressive and can perform a wide variety of functions. They create an accurate and hassle-free environment for all business owners.
- Accounting
- Budgeting
- Customer Management
- Inventory Management
- Asset Management
- Invoicing
- Email Integration
- Payment Handling
- Product Database
- Supplier & Purchase Order Management
- Quotation & Estimates
- Taxation Management
- Vendor Management
- Invoice Designer
- Profit & Loss Statement
- Software Inventory
- MIS Reports
- Multi-Currency
- Multi-Location
- Customizable Invoicing
- Customizable Receipts/Warranty
- Customizable Reports
- VAT/Excise/Service Tax
- TDS & TCS
Groflex helps you cover all these functionalities and much more. It has been created with user inputs.
Invoicing/Billing Is Important
An accurate invoice/billing is the most crucial factor in the entire purchase or sale transaction. It forms the essence of uploading returns, tax filing, and obtaining credit. The logistics or supply chain also gets strengthened when a standard document flows throughout the billing transaction. Consequently, it is very important to take good care of the timely maintenance of invoices and delivery challans. A well-maintained data record and smooth transactions create better working resources.
Why Invoices Are Divided Under GST?
Invoices are mostly divided into wide categories under the GST regulation. The GST invoice, vouchers, credit notes, debit notes, bill of supply, and a supplementary invoice are its primary elements. These documents are the only one which is given importance in GST. It helps remove the prevalent invoicing system that includes VAT Invoice, Excise Invoice, Tax Invoice, and Commercial and Retail invoice. All these invoices were closely connected. They are mainly charged under separate laws having separate regulations and rules. Therefore, GST is a One Nation Tax. Now it’s mandatory to accurately issue the documents as mentioned above by ALL taxpayers in the country.
Conclusion
In the end, software for GST billing in India is a secure way to manage all financial transactions without any hiccups. Firstly, the efficiently designed software generates an automated bill by collecting all the data of goods and services. Secondly, it provides the customer with all the details related to expenses, sales, delivery challan, and invoice information in a transaction. Earlier the billing software could easily handle all the business bills and records for customers. But the requirement of billing software in business used a lot of time while estimating the statements. Nowadays, new GST billing software developed is catering to different types of billing requirements. They are related to fields such as medical billing software, inventory billing software, recurring billing software, and many more. With the help of Groflex, you can generate GST ready invoices without drawing too much sweat. In making work more accessible our GST billing software helps in many ways, such as invoice handling, central data storage, etc. You can check out our GST invoice format here to get more details and understand how it can be more suitable. The software can quickly generate the bill over the internet even for small businesses. We also provide user-friendly security and privacy management software. A well-developed software solution with unique and latest features improve the overall performance of any business data. According to the market trend, our software includes purchasing, selling, and other services of goods. Hence, our robust, multi-functional GST accounting software is perfect and very user friendly for small to large businesses. With our new plans, there is free GST billing software. Do check out the best plans suitable to you on our home page.
