Keeping up with GST Regime: An Automated PoS software can Help

Posted Date : 5-March-2018

GST or Goods and Service Tax, an indirect tax system implemented from 1st July 2017 left many traders and businessmen just like you in a flux. The new tax regime made it harder for businessmen to run their business owing to the issues related to the periodic online filing of tax returns. This called for going digital to maintain sales records and file taxes on time.

Even today, businesses are trying to find ways to manage their tax liability and maintain records using age-old methods. But if you want to keep up with GST regime and want to simplify your business operations, it is high time to invest in a GST-ready automated PoS software.

Why go for an automated PoS Software?

An automated PoS software is capable of handling large-scale transactions related to sales, inventory, taxation, and other aspects. In the GST regime, it is mandatory to file returns online. With an automated and computerized PoS software, keeping track of business transaction and developing tax returns is easier.

A PoS software enables a business to take charge of business activities by capturing data from different locations and speeding up business growth. With the help of a GST-enabled automated PoS system, you can:

  • Monitor sales and inventory status of stores at different locations:

  • A centralized automated PoS system will help you stay in control by giving you the power to check the sales and inventory level of different branch stores. As everything will be updated automatically to the central server, it will make it easier to comply with GST regulations that require periodic filing of returns. You can also check the activities of employees, track and compare their performance, irrespective of the location they are working at.

  • Faster accounting due to integrated tax and financial data management:

  • An automated PoS software simplifies the process of invoicing and takes care of applicable taxes. This gives you the freedom to stay worry-free about complying with applicable GST laws. The integrated accounting and financial data management capabilities updates books of accounts automatically as you ring up sales and create invoices. Also, the GST-compliant invoice formats along with integrated accounts management ensure zero discrepancies in sales and tax data.

  • Integrated solutions to handle Post GST woes:

  • An automated PoS software simplifies the process of invoicing and takes care of applicable taxes. This gives you the freedom to stay worry-free about complying with applicable GST laws. The integrated accounting and financial data management capabilities updates books of accounts automatically as you ring up sales and create invoices. Also, the GST-compliant invoice formats along with integrated accounts management ensure zero discrepancies in sales and tax data.

    No matter how simple it may appear; GST liability cannot be managed without an automated system that takes care of all the tax transactions. An automated PoS software can be configured to generate tax transactions automatically after defining tax structure, making it easier for a business to comply with dynamic GST laws in the country.

Things to keep in mind while going for a GST-ready PoS software

When you seek a GST-ready software, make sure it comes with flexible tax management modules. As GST is at its nascent stages in India, there would be several changes in the tax structures. If a PoS software does not give your business the ability to define tax structure and rates, you would have to be at the mercy of developers to release a new version. To save yourself from the trouble, choose a PoS software with flexible tax management modules.

In the ever-changing tax environment, keeping your business prepared is the key to business growth. With the help of an automated system, not only will you be able to manage your records efficiently but also will protect your business from contingencies due to changes in applicable tax laws. As an automated software also reduces chances of error due to human negligence, this protects a business from costly mistakes that can be punitive in the new GST tax regime. So, stop worrying about GST and choose an automated PoS solution for your business.


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