Top 6 reasons to choose automated GST software

The introduction of the Goods and Services Tax (GST) on July 1, 2017, sparked a new era of thorough tax reporting procedures in the Indian business ecosystem. MSMEs and small businesses have had difficulties in completing GST returns because of a lack of technological awareness. However, strong GST software filled the gap and enabled business entities to fully implement GST. With the variety of GST software available in the market, none of them is as efficient as HostBooks GST software that meets all your business needs.

GST software is a comprehensive solution that enables organizations, proprietors, and business owners to file, track, and manage their GST returns. Additionally, the software provides you with the information you need to file your returns, pay your taxes on time to avoid penalties, and comply with the most recent GST regulations.

Moving forward, business organizations have two options: either increase the number of employees working on tax compliance or use an automated system. Manual compliance increases the possibility of human error. Using cloud-based automation solutions provided by authorized GSPs (GST Suvidha Providers) such as HostBooks is the most practical and cost-effective approach to comply with the new GST tax structure.

Let’s learn how automation in GST can scale up your business.

GST Automation can simplify compliance with automated GSTR preparation and submission through an interactive dashboard. It detects ITC irregularities, reconciles invoices, aids in repair along with storing files and acknowledgments in the cloud so that no data is lost. Some of the major benefits of GST automation are stated below:

• Simple billing – Restaurants, bars, and other private limited organizations that provide services are burdened with the difficult process of calculating taxes for various invoices based on the products and rates in the bill. Automated GST software enables a business to get rid of manual calculation of taxes and the challenges that come with it, also saving their valuable time and money.
• Easy data filing – In order to manage daily finances, inventory management, invoicing, and billing, many businesses purchase accounting software. Exporting this data is a time-consuming operation that can be ineffective before manually reconciling and filing the GST returns. An automated GST software offers hassle-free GST registration, speedy accounting data migration, and reconciliation for accurate and on-time GST filing.
• Minimize the expense of GST filing– Reconciliation, data uploading to the GST system, and tax computation need additional manual effort, which adds to business expenses. Automated GST software helps you in saving a significant amount of money on both the expense of hiring resources for particular financial needs as well as the license fees for various software.
• Personalized software – Convenient GST software, like HostBooks, offers ready-to-use templates that you can select and effortlessly incorporate into your current tech procedures as part of filing your GST return.
• Reconciling the records – The difficulties brought on by improper GST filing can be avoided with error-free billing and invoicing. The automated GST software by HostBooks provides a reconciliation function to ensure compliance while saving time.
• Data security and storage – All of your billing information, financial and accounting records, and other sensitive data are saved digitally, so it’s necessary to ensure that it’s handled securely. HostBooks GST software assists in resolving this issue by encrypting your data with passwords and adding authentication requirements for access.

For many organizations looking for an all-in-one solution, finding the best GST software can be challenging. There are various GST software available in the market out of which provides a comprehensive solution, i.e. GST billing software, for business entities and CAs to file GST returns.