Requirement of GST accounting software in your business is evident after the GST bill was passed as you can have a better tax management with a GST software. GST is an indirect tax reform that helps you streamline the process of indirect taxation and makes it easier and more effective for you to calculate and pay right. Every tax payer will pay a consolidate tax instead of including all the VAT, service tax, entry tax, central excise and other indirect tax that increases that payable amount and reducing all the complicacies. It is the actual payable amount that a tax payer should be paying and is the final amount to be paid during consumption.
A GST accounting software allows you to calculate the right amount and filters all the indirect tax making it a simple structure for you so you pay exactly only the amount that you are supposed to pay.
Why does startups and small and medium business are happy about GST?
- Simple tax structure
There are various taxes that makes the taxation complicated for a business depending on the rules and regulations but with GST the business becomes simpler.
- Easy to a start business
Every new business has to go through this VAT regulations and registrations and in case your business is based in different states there will be tax rules for each state which is going to bring up a lot of trouble. With GST there is uniformity in tax and you have simple regulations which will make it easy for the business owners to start business in other states much easier.
- Higher margins for taxation
Only the business that earn upto 10 lakhs and further will have to register for VAT so extremely small business can expand in peace. And again business between 10 and 50 lakhs will have to turn over lesser amount of tax which reduces tax burden on small business owners.
- No separate tax for sales and service in a single business
In case of business that have both sales and service in their business had rules for separate tax for sales and service making it complicated to calculate the tax for such business. With GST there will be no more of separate tax calculations for these business and only a total amount will be taken as final payable tax.
- Cost of logistics and time reduced
Transportation is always hectic as there are a lots of check posts while exporting and importing several good from state to state. GST has made the transport smoother with the uniformity in border tax and checkpost matters making interstate movement less expensive and simpler.
Requirement of GST accounting software in your business:
- Reduces cost
With GST ready accounting software, you can enjoy maximum benefit of cost reduction. GST already helps in several cost reductions like indirect taxes and complicated taxation which demands extra work from you. Accounting software that is GST ready reduces cost by saving time and in managing your tax and accounting helping you will easy taxation and faster work process and less man power.
GST accounting software improves your workflow as it synchs and integrates with other software, gateways and portals. The tax and other accounting work are handled by the software therefore you can do other work that includes real business work allowing you to finish more work in a shorter period.
- Improves business
Your business can improve on many levels as the GST is taken care of and the accounting is also managed. You will have a better business process with accounting software to manage all the accounts and provide you with details of your business that you can easily access.
Reach accounting software
Reach is a GST ready software that can be used by any business as it customizes with ease and has all the modules required for managing a business. It is easy to use and is cloud based hence you can access it from anywhere and any device. It has easy backup and provides bank level security.
- Order management
- Manufacturing management
- Point sale
- Lots and barcode management
- Multi branch
- Multi company
- Auditor view
- Mobile application
- Business automation
- Operations and process
- Loyalty management
- Tally import
Benefits of Reach accounting software:
It is easy to customize Reach so you can use it for any business and this makes its utility to the maximum. This makes it easy for you to work with it and understand it making your employees adapt to it faster.
You can integrate Reach with ease so there is no chaos and workflow hindrance in your business. It integrates with existing software making your work simpler and by saving time so you don’t have to access all the software to get updates about your business.
Reach is a cloud based software therefore you can access it even when you are not at work. It provides real time updates hence your business can be taken care of from miles away. It is also easily accessible from any device hence you can easily access it from your smart phone and get all your reports and updates.
Enjoy bank level security with 256 bit encryption and limited access to unauthorized access as it also comes with accessibility restriction menu. Reach auto backs up your data every 3 hours therefore, there is no risk of data loss. Also you get a free anti-virus to protect your system and data.
Reach has 24/7 support hence any issues or any trouble with the software will be handled immediately. Once the software it is the duty of the vendor to stay in touch with client in the times of need as many occasions may rise when the client will be having troubles with the software although Reach is one of the most reliable GST software available.
Who can use Reach GST accounting software?
- Consultants and free lancers
- Packers and movers
- Rentals and subscription
- E-commerce stores
- Electronics and spare parts dealers
- Importers and exporters
- Automobile dealer
- Wholesalers & distributors
- Café & bakery
- Diamond traders
- Furniture stores
- Jewellery store
- Service centers
- Textile stores
- Takeaway business
- Workshop management
- Job work & contractors
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