GST (Goods and Services Tax) will be implemented in India on the 1st of July, 2017. Which accounting software are GST compatible?
TaxRaahi's GST Software
There are various accounting softwares that are GST enabled and can handle GST requirements. All businesses with a turnover of more than 20 Lacks are required to register for GST. To maintain and manage the GST compliance, businesses need to keep a clear record of their taxation electronically. This is where these accounting tools can be really helpful. Some of the accounting tools that support GST are listed below:
1. Zoho Books: Zoho offers an entire suite of GST-ready products; from accounting to inventory, to expense reporting, the Zoho Finance suite can handle your entire back office operation while keeping you GST-compliant. The invoice format is in the government prescribed template allowing you to capture GSTIN, place of supply, and all other necessary details. It also generates all your financial reports, auto-calculates tax liabilities, and helps you file your GST returns without any hassles.
2. Reach Accountant: The Reach Accountant is a free accounting software for SMEs. It keeps a record of every input, reunites data from different sectors and performs auto- GST calculation within minutes. Reach can be used for preparing Invoices, Auto Calculating the GST Liability, Filing Returns, Checking Purchases which auto populates in GSTN, Making GST Payments and Accounting for GST. It is a user- friendly software and customizes according to different business requirements easily.
3. Profit Books: ProfitBooks is an accounting softwares that lets you create professionals’ invoices and receive payments from your customers. It helps a business in the process of applying for GST efficiently. It is useful at every step of registering and securing your Goods and Service Tax Identification Number (GSTIN). ProfitBooks also help an organization for filling up the application form and following up on organization’s behalf till they get GST number.