RECENT UPDATES

Reconciling Invoices just got easier with IRIS Sapphire

( 0 comments )

IRIS Sapphire: Smart Reconciliation


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.

Our Smart Reconciliation comes handy for managing the reconciliation tasks in a timely, efficient and easy manner. The Smart Reconciliation runs on the invoices uploaded by you and the auto-drafted details of GSTR 2A and categorises the results as per the next actions required. The key features of our reconciliation are
Reconciliation 

  Bulk upload of your invoices for all your GSTINs

  Bulk fetch of GSTR 2A for all your GSTINs

  Auto-triggered reconciliation process will categorise the results into different actionable groups

  Vendor-wise summary and Overall status dashboard gets updated on real-time basis

  Smart search to pair and match comparable invoices

  A spectrum of filters to drill down deep into invoice level details

In IRIS GST, reconciliation is auto-triggered. Thus whenever GSTR 2A is downloaded from GSTN or GSTR 2 data is uploaded in IRIS application, the invoices are compared and the results of the comparison are displayed.


Intelligent Matching Logic


Smart Matching to search for comparable invoices ignoring the special characters included in an invoice number such as dash and slash and thus many more invoices will get reconciled. And with comparison done for the invoices uploaded by you and GSTR 2A across all the periods within a financial year




Vendor Summary

Get an aggregate level matching counterparty wise with a comparative view of totals as per 2A and your uploaded data. This will enable you to identify the counterparties where the are differences in the balances and follow up with them. 




Detailed invoice views with range of filters


You can drill into the details to know the invoices which have differences. There are lot many options to filter out invoices such as date range, amount of difference etc.






To read more about the reconciliation process and its features, please click here

For queries or a detailed demo,  
contact us or write to us at support@irisgst.com




Currently unrated
Share:

Comments

There are currently no comments

New Comment

required

required (not published)

optional

required