Reconciliation Process

ExpressGST || Reconciliation Process: Books vs 2A/2B (DIY)


Reconciliation Process: Books vs 2A/2B

Step 1: Import GSTR-2 Data
  1. Start by importing the GSTR-2 data into the software.
  2. 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
  1. Once the data is imported, go to the Books vs 2A/2B Annual section in the software.
      
  1. This is where the reconciliation process takes place.
Step 3: Click on the "Supplier Wise Reco" Option
  1. Under the Books vs 2A/2B Annual section, select Supplier Wise Reco.
      
  1. This option allows you to reconcile data on a supplier-by-supplier basis.

Step 4: Click on the "Invoice Wise Reco" Option
  1. For detailed reconciliation, select Invoice Wise Reco.
      
  1. This option provides reconciliation at the invoice level, ensuring each invoice is compared between your books and the GSTR-2A/2B data.

Step 5: Apply Filters to Review Discrepancies

After selecting Invoice Wise Reco, the software categorizes invoices based on their reconciliation status. Use the filters below to analyze and resolve discrepancies:

      
      

Matched Entries:
  1. Perfect Matched: Invoices that exactly match between your books and GSTR-2A/2B data.
  2. Manually Matched (Single/Multi Linked): Invoices reconciled manually; review their status.
  3. Doc. Date Different: Invoices with mismatched document dates between your books and the portal.
  4. Books and 2B Period Differ: Invoices where the reporting periods differ.
  5. RCM Differ: Identify invoices with discrepancies in Reverse Charge Mechanism (RCM) status. Use the Yes/No filter to refine your search.
  6. POS Differ: Highlight mismatches in the Place of Supply (POS).
Partially Matched Entries:
  1. Only Doc. No. Mismatch: Invoices with mismatched document numbers.
  2. Taxable Value Mismatch: Entries where taxable values differ.
  3. Tax Mismatch: Invoices with discrepancies in tax amounts.
  4. RCM Differ: Entries with RCM status differences while other details match.
  5. POS Differ: Entries with mismatched Place of Supply (POS) but otherwise consistent data.
  6. Other Partially Matched: Captures other partial matches not included in the above filters.
Unmatched Entries:
  1. In Books Only: Invoices present in your books but missing in GSTR-2A/2B.
  2. In 2B Only: Invoices present in GSTR-2B but missing in your books.
RCM Filter:
  1. Yes: View invoices where RCM status is marked as "Yes."
  2. No: View invoices where RCM status is marked as "No."

Step 6: Set or Modify Tolerance for Taxable Value
  1. Adjust the tolerance for taxable value if required.
      
  1. This setting allows you to define a threshold for acceptable discrepancies, such as minor differences in amounts.
  2. 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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