How GST compliance Invoice Processing can be Simplified? - PowerPoint PPT Presentation

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How GST compliance Invoice Processing can be Simplified?

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GST has come and we cannot ignore or hide from that fact. Earlier, sometime back all invoice processing tasks were completed manually. This meant that an account payable expert being it from small or mid-size businesses had to process every invoice, make sure it was paid, file the documents, record the payment in the bank books and follow up to make certain that the payee received it and noted it on the account. – PowerPoint PPT presentation

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Title: How GST compliance Invoice Processing can be Simplified?


1
How GST compliance Invoice Processing can be
Simplified?
2
  • GST has come and we cannot ignore or hide from
    that fact. Earlier, sometime back all invoice
    processing tasks were completed manually. This
    meant that an account payable expert being it
    from small or mid-size businesses had to process
    every invoice, make sure it was paid, file the
    documents, record the payment in the bank books
    and follow up to make certain that the payee
    received it and noted it on the account

3
  • Today in this Hi-tech world, things are changing
    at a fast pace. Generating invoice with GST
    compliance accounting software becomes much more
    easy and simple. Some of the small business
    owners might be wondering how to use the
    accounting software as we are not from accounting
    background. There are GST accounting software
    available where you dont need any prior
    training. They are very user friendly and you can
    use them with ease and from the moment it gets
    installed in your devices.

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  • Now lets have a look how GST accounting software
    improvise your invoicing over manual processing-
  • Productivity- With accounting software invoice
    processing, account payable employees do not have
    to handle every invoice multiple times. They can
    concentrate on completing the other important
    task successfully. For many organizations the
    amount of work done in those same hours will be
    skyrocketing. With manual processing,
    productivity can often lag especially during
    busy periods.

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  • Data Recall- In a manual invoice processing
    system, it is very crucial for AP (account
    payable) professionals to remember important data
    from invoices. While in automated GST accounting
    software, this aggregated data is available at
    the push of a button. That keeps your mind at
    peace.
  •  
  • Error Rate- A well l known quote to err is
    human. Even the best AP professionals will
    occasionally make mistakes. The GST accounting
    software offers the best of both worlds. Not only
    will it have built-in error checking functions,
    but AP will have more time to re-check the
    details and make sure no mistakes are made.

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  • Ease of Access- Searching and getting a paper
    invoice in a hurry may not always be easy. If you
    need to access an older file, it could be stored
    under massive piles of newer documents. To find
    it waste a lot of productive time. However, with
    accounting software, one can always be able to
    access old invoices online in less than fraction
    of seconds. This can make tax time much easier.
  •  
  • Eco-friendliness- An organization cannot control
    how invoices are received, during manually
    processing of invoice lot of papers get wasted as
    manual processing may require multiple sheets of
    paper, as well as ink to complete just one
    invoice.
  • We believe in Clean India Green India.
    Accounting software is paperless...

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  • Cost- According to a Wall Street Journal article,
    writing a check can cost a business between 4
    and 20 and processing an invoice in full is
    even more than that. An automated accounting
    software system can make it easier for both small
    and medium size businesses to generate electronic
    payments or streamline the process of creating
    paper checks, helping to lower down the cost.
    Although there may be an upfront one-time cost
    for getting started with accounting software
    system, in the time to come the savings and
    revenues can be huge.
  •  
  • Once you understand the differences between
    manual and automatic invoice processing, you
    yourself will be able to interpret why and how an
    accounting software system is often the most
    beneficial.
  • To get the most out of accounting software choose
    HIAccounts.
  • One India One GST One Accounting Software
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