ExpressGST || Reconciliation Process: Books vs 2A/2B (DIY)
Reconciliation Process: Books vs 2A/2B
Step 1: Import GSTR-2 Data
- Start by importing the GSTR-2 data into the software.
- You can either upload an Excel file or directly import data from Tally, if applicable.
Step 2: Navigate to the "Books vs 2A/2B Annual" Section
- Once the data is imported, go to the Books vs 2A/2B Annual section in the software.
- This is where the reconciliation process takes place.
Step 3: Click on the "Supplier Wise Reco" Option
- Under the Books vs 2A/2B Annual section, select Supplier Wise Reco.
- This option allows you to reconcile data on a supplier-by-supplier basis.
Step 4: Click on the "Invoice Wise Reco" Option
- For detailed reconciliation, select Invoice Wise Reco.
- This option provides reconciliation at the invoice level, ensuring each invoice is compared between your books and the GSTR-2A/2B data.
Step 5: View Matched, Partially Matched, and Unmatched Entries
- After selecting Invoice Wise Reco, the software will display a list of invoices. These are categorized based on reconciliation status:
- Matched: Invoices that match completely between your books and GSTR-2A/2B data.
- Partially Matched in Books Only: Invoices with some data (e.g., taxable value, GSTIN) matching, but discrepancies in your books.
- Partially Matched in 2A/2B Only: Invoices with some data matching in GSTR-2A/2B but discrepancies in your books.
- In Books Only: Invoices recorded in your books but not found in GSTR-2A/2B.
- In Portal Only: Invoices available on the portal (GSTR-2A/2B) but missing in your books.
Step 6: Set or Modify Tolerance for Taxable Value
- Adjust the tolerance for taxable value if required.
- This setting allows you to define a threshold for acceptable discrepancies, such as minor differences in amounts.
- Modify the tolerance as per your business rules or GST guidelines.
By following these steps, you can ensure accurate reconciliation of GSTR-2 data with your books. This process helps you identify discrepancies and take corrective actions where necessary.
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