Key points
- Sales and purchase bills post to ledgers automatically.
- Receipts and payments are matched to specific bills.
- GST ledgers are updated with every transaction.
- Profit and loss and balance sheet are available any day.
- Accountants move from typing to checking.
What gets automated
| Transaction | Entries created automatically |
|---|---|
| Sales bill | Customer, sales and output GST ledgers |
| Purchase bill | Supplier, purchase and input GST ledgers |
| Customer payment | Cash or bank, customer, against specific bills |
| Supplier payment | Bank, supplier, against specific bills |
| Sales or purchase return | Credit or debit note with GST reversal |
| Stock adjustment | Stock value and loss or gain |
Bill-wise outstanding
When payments are recorded against specific bills, you always know which bills are pending and how old they are. Reminders can go out automatically. See ERP and financial management.
Bank and cash
Cash books update from counter sales and payments. Bank entries can be checked against bank statements, so differences are spotted quickly.
Reports any day
- Day book and cash book
- Trial balance
- Profit and loss
- Balance sheet
- Receivables and payables ageing
What still needs a person
- Journal entries for depreciation, provisions and adjustments.
- Checking bank reconciliation differences.
- GST judgement calls: blocked credits, reversals.
- Year-end closing with your CA.
Before and after
| Task | Manual | With ERP |
|---|---|---|
| Entering sales | Typed from bill copies | Automatic |
| Customer balance | Calculated | Live |
| Monthly P&L | Days after month end | Any day |
| GST ledgers | Separate work | Automatic |
A month-end with automated accounting
- Check the day book For any unusual entries.
- Reconcile bank Match bank entries with the statement.
- Review outstanding Customers and suppliers by age.
- Post adjustments Depreciation, provisions and corrections.
- Export GST data For GSTR-1 and GSTR-3B.
- Share with your CA Trial balance and P&L.
Getting the most from it
- Enter purchases and expenses as they happen, not at month end.
- Record payments against specific bills.
- Use clear expense heads.
- Give your CA a read-only login so they can check without waiting for files.