Invoice vs. Sales Register -Accurate Reconciliation Guide
To streamline your invoice management and reconcile your sales register, follow this guide. By the end, you'll know how to run a reconciliation and explore the reconciliation section in detail.
Click Actions in the main menu.
Select Run New Recon from the options.
Choose the reconciliation period, such as March.
Check the toggle. If it's on, the same return period for GSTR1 and SR is used. To reconcile different periods, turn it off.
With the toggle off, select different return periods for G1 and SR. For example, choose January to March for G1 and March for SR.
Decide the reconciliation scope. Choose between a full pan or a single GSTN based on your needs.
If you've previous reconciliations, click View to access the specific reconciliation page.
Click Update Data.
If your GSTN isn't connected, click Connect and then Download to fetch your G1 data from the government portal. If it's already connected, click Download directly.
After connecting your GSTN and downloading data, click Skip if you've already imported your sales register.
Click Skip again.
Verify the selected periods and details before running the reconciliation to ensure accuracy and avoid discrepancies.
This guide will help you run a reconciliation and analyze various data views within the system.
To make changes, click Back. If no changes are needed, click Run Reconciliation.
After running the reconciliation, review the summary. It shows categories like match, missing, and mismatch, each with subcategories. For instance, under 'match,' you'll find 'exact match' and 'suggested match'; under 'missing,' you'll see 'missing in G1' and 'missing in SR.'
Go to Customer View to see the list of customers, their documents in G1 and SR, corresponding tax values, and matching statuses.
In Customer View, review details about taxable values, document values, and their match statuses.
Switch to Document View to see the source of documents (G1 or SR) and the count of documents in each source.
Review the taxable values of all documents listed under G1 and SR, along with their respective tax values and differences.
Use filters to refine your search by document number or other criteria.
Click a filter to specify the match status you want to view, such as Exact Match.
Click Apply to apply the filter.
Review the invoices that appear, which will now only include those with an Exact Match status.
Scroll through the results displayed in the UI or select a specific document for detailed actions.
Click Actions, scroll down, and select Download Report.
Click Download again to start downloading the "Invoice vs Sales Register Reconciliation Report." This report provides a summary of the reconciliation.
View the list of customers and documents included in the report.
Apply additional filters to refine the displayed data.
Check the match status, which may include statuses like Exact, Suggested, or Mismatch.
Review the match description to understand how invoices are matched based on criteria like invoice number, financial year, and GST details.
Determine if the matching is performed at the PAN level or GST level.
Identify mismatches highlighted in the mismatch field, which could relate to document value, tax value, etc.
Note additional details such as customer name and GST as per the report.
Navigate to the Filters section.
Select the Missing in SR filter to view invoices not recorded in the Sales Register.
Note: If no data appears, it means there are no missing invoices in this category.
Select the Missing in G1 filter to identify invoices present in your Sales Register but absent in G1.
If an invoice in your Sales Register is not in G1 and you decide to push it to the GST portal, leave the action as No Action.
To delete an invoice from your Sales Register, go to the Data Overview section, select the invoice, and delete it.
If an invoice appears in G1 but is missing in the Sales Register (SR) and needs to be deleted from the GST Portal, follow these steps:
Click Action and then Delete in GST-1. Note: Once deleted, the invoice cannot be restored to the GST Portal.
To customize the visibility of columns in your invoice list, click Actions and then Show/Hide Columns.
This lets you add or remove columns as needed.
To add a specific column, like POS, click POS and then Save. This action adds the POS column to your view.
Remove the same as well.
Move on to filing.
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