As businesses in India continue to adapt to the Goods and Services Tax (GST) system, a new startup based in Mumbai is offering a solution to simplify the process of GST ITC reconciliation and enhance Tally accounting. Finsights is a cutting-edge platform that is designed to help businesses, chartered accountants, and entrepreneurs streamline their accounting processes, enabling them to focus on growing their businesses.
GST ITC Reconciliation Made Simple
For businesses that have to comply with the GST regime, reconciliation of the Input Tax Credit (ITC) has become a major challenge since the introduction of GSTR 2B. The platform provides a simple, automated solution that reconciles GSTR 2A and GSTR 2B with the books, ensuring that the ITC is correctly reflected. Finsights saves businesses valuable time by reducing the hours needed to reconcile the books, thanks to its AI-based matching algorithm.
Automatic Daily Reconciliation and Recommendations
Finsights uses advanced algorithms to update the reconciliation between the purchase register and GSTR 2B on a daily basis, making the process more efficient and reducing the chances of errors. Additionally, the platform provides automatic recommendations on how much ITC to avail in a month based on the reconciliation, further simplifying the process for businesses.
Reminders for Non-Compliant Suppliers
Another key feature of Finsights is the ability to send reminders to non-compliant suppliers. By doing so, businesses can ensure that their suppliers file their GST returns on time, avoiding any disruptions in the reconciliation process.
Free Tally on Mobile and Web
Finsights has also developed an app for Tally users that provides an innovative solution for accounting professionals, making it easier for them to review transactions. Finsights’ Tally app is user-friendly and accessible from both mobile and web platforms, allowing users to work collaboratively in real-time. This app can enhance the productivity of accountants and entrepreneurs alike, making it a valuable tool for businesses looking to optimize their accounting practices.
Finsights is a startup that is making a big impact in the world of accounting by revolutionizing the GST ITC reconciliation process and enhancing Tally accounting. The platform’s advanced algorithms and user-friendly interface make it a valuable tool for businesses and professionals alike. By automating the reconciliation process and providing recommendations, Finsights simplifies the process of GST compliance, allowing businesses to focus on what they do best: growing their business.
Tally App: https://finsights.biz/tallyapp/
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