Manufacturing sector has emerged as one of the growing sectors in India in recent times. The introduction of GST, has provided a great boost to the manufacturing sector by eliminating
IRIS Sapphire Reconciliation
Upload purchase data for all your GSTINs in one go.
Download GSTR 2A from GST system for all your GSTINs simultaneously.
Automated Smart Reconciliation is performed to identify the comparable invoices and result of comparison is grouped into match, mismatch and missing invoices category
Mark the reconciled and reviewed invoices and generate a summary report to know the reconciliation status
Get a vendor-level reconciliation result with break-up given month-wise
Trigger emails to vendors highlighting the invoices that need further action.
User-triggered advance reconciliation through various rules.
RECONCILIATION ACROSS FINANCIAL YEARS
Match invoices from different financial years if invoice date, invoice value and taxable value are same.
RECONCILIATION THROUGH FUZZY LOGIC
Match invoice numbers for random character patterns to show probable matches.
RECONCILIATION BEYOND INVOICE NUMBER
Reconcile beyond invoice number for matches in taxable value, invoice value and tax rate.
USER DEFINED TOLERANCE
Match invoices for values across parameters like taxable value, invoice value and tax amount under user defined tolerance levels.
As a registered taxpayer, reconciling your purchase invoices with the supplier uploaded invoices on GST system is a critical activity as it determines your ITC claim. Further, with Government issuing notices to taxpayers for the discrepancies in the ITC claimed in GSTR 3B and amount as per supplier uploaded details in GSTR 2A, it is necessary to reconcile data, follow up with counterparties and make adjustments and corrections in previously filed data.
The GST Reconciliation with IRIS Sapphire is efficient easy and time-saving. The Smart Reconciliation runs on the invoices uploaded by you and the auto-drafted details of GSTR 2A and categorizes the results as per the next actions required.
IRIS Sapphire covers all the possible scenarios of reconciliation from counter-party GSTIN match to invoice number and financial period match to give you more insightful and smarter reconciliation and buckets the differences into intuitive categories such as mismatch in values, missing invoices etc.
Reconciliation is a crucial step that you, as a taxpayer, need to undertake to avail ITC. For every month’s GST filing, you need to reconcile your purchase data with all
Since the announcement of GST, there is a constant tussle going on between GST pros and others on its effects on the economic growth of the country. While the contention
Reconciliation of invoices with the supplier uploaded invoices on GST system, ensure that the ITC which you intend to claim is accurate and meets all the provisions of the GST