Overview of Indiafilings GST Software
Supported and encouraged by big names such as ICICI Bank, Axis Bank, Bennett, Coleman & Co. Ltd, Indiafilings has reserved its seat amongst already established players in the accounting world and is best known as India’s largest cloud-based business services platform. Helping budding entrepreneurs in getting started and expanding their business at an affordable cost has been the driving force of the firm since its inception year. Started from one room and with a team of 2, it has now expanded and grown into a firm with 250 plus employees and five offices, the firm has a growing team of young hardworking professionals from every state of India and thus synchronizes well with the country’s “Unity in Diversity” motto.
Headed by Lionel Charles, Indiafilings has launched its new accounting software by the name of LEDGERS, which is a GST accounting software designed specifically for the small and medium sized enterprises (SMEs). Having a loyal customer base of over 20,000, the firm claims to have more than 3 million visitors on its website every month, it started working on a GST compliant solution for its customers from the time GST came into implementation. Back then though everyone was aware of how to go about it, Indiafilings buckled up and started working on the same. GST, also known as one nation one tax, is known for its stringent deadline and mandates, is one of the largest tax reforms in the history of India and as per the statistics, has impacted nearly 1 crore businesses across the country. GST was announced on 1st July 2017, its implementation came into effect from Sept 2017 is a consumption based tax which although related responsibilities such as payment collection and remittance of GST collection to the government was and is to be borne by the businesses and thus it was important for the businesses to take necessary and required steps in order to comply with the GST mandates such as obtaining GST registration, creating GST compliant invoice formats, upgrade or introduce suitable accounting software and last but not the least to map all goods and services to HSN or SAC code and update GST rates in billing systems. With the implementation of GST, the businesses were also expected to file their GST returns namely GSTR-1, GSTR-2 and GSTR-3.
Indiafilings started to work in the same direction and decided to take one step at a time before launching a full-fledged GST compliant software and thus first launched a GST portal and offered free training and educational material on GST and related processes to the small and medium sized enterprises, mainly entrepreneurs, which was later followed by online services to help them understand GST registration and GST return filing and all formalities related to GST migration and GST registration. LEDGERS is available as free trial and paid version, with the former one having the basic features and can be used to get understand the software to create estimates, issue invoices and customer management, whereas the later one is enriched with additional features and allow the businesses to maintain all aspects of accounting such as customer management, supplier management, expense tracking, filing of GST return, management of GST input tax credit and much more.
Once the first step was taken care of, Indiafilings went ahead and launched its GST ready software by the name of LEDGERS, which is a cloud based GST ready solution mainly for the small and medium sized enterprises and was built after working with more than thousands of business clients and understanding all their compliance requirements. Launch of a cloud based GST solution, Indiafilings also launched its desktop version which is capable of functioning without internet connection with data begin stored on the hard-drive of a computer or laptop or on premises of the business, which implies that all that a business would need to file its GST return is one-time connection to the internet. The driving force behind launch of desktop based version of its GST ready software was the very fact that given the complex demographics of India, Tier-2 and Tier-3 cities are still struggling and internet connectivity is a challenge waiting to be won and thus the businesses in these cities were not able to take the advantage of the cloud based GST ready software. With the desktop version of the same software, Indiafilings aims to provide the small and medium sized enterprises with a GST ready software to manage their GST compliance.
LEDGERs, also known as the next generation of GST platform, is a cloud based and intuitive GST solution which is built on latest technology i.e. AWS cloud and does not require installation of software or backup or hassles of upgradation and Indiafilings has gone a step further in making it GST compliant by connecting it to the Government GST network. It has enriched features which allows the business owners to obtain GST registration and file their monthly GST returns with few clicks and also provides features such as reconciliation and management of aspects related to GST compliance directly from the dashboard of the software.
Indiafilings has stood by its aim of making the software easy to use and one can easily create a LEDGER simply by signing up on the homepage of Indiafilings GST software and enter the required details. Once it is done, you will get an email on your registered email for the verification and once verified, you will be directed to the LEDGERS platform and would require to set up the password as per the criteria. Once it is done and your password is set up, you will be directed to the dashboard of the software from where you can perform GST related functions.
Features of Indiafilings GST Software
Salient features of LEDGERS – GST ready software launched by Indiafilings are as below:
GST Tax Invoices
One of the main feature of LEDGER is to create estimates and invoice and you can create invoices and estimates with few clicks by entering the information of your customer and goods. LEDGER is so designed that it will fetch GST mandatory fields and also calculate CGST, SGST and IGST based on the inputs and taxable value of goods and their quantity.
Inventory management is a major feature used in any GST software and LEDGER is no exception. For any business to have correct information of its products and services, it has to make sure that its inventory management is at its best.
Indiafilings GST software has the feature to connect with your bank accounts and has encrypted databases stored at various data centres and thus ensure data security along with quick data recovery.
Simple and Intuitive
One of the most appealing feature of the Indiafilings software is its simple and intuitive nature and helps to issue invoices, receipts, purchase invoices and to file their GST returns.
LEDGER is designed to issue alerts for your GST filing on monthly, quarterly and annual basis and thus saves you from missing any of your deadline and penalties.