Sales vs GSTR-1 Reconciliation
This release introduces a new module which assists in reconciliation of sales register with the data reported in GSTR-1. Based on your preference, you can reconcile a month, a quarter, a financial year, or any custom period. However, it is common to reconcile the sales register of a financial year.
GSTR-1 broadly contains two types of data:
- Document Level: Such as B2B, SEZ, Export, Deemed Export, B2B Credit/Debit notes etc. Octa GST will present a document-level reconciliation for these tables.
- Summary Level: Such as B2C sales, exempt & non-GST sales, and advances received/adjusted. Octa GST will calculate a similar summary for these sections from sales register so that it can be compared with the summary data in GSTR-1.
How to use?
- Open the company in Octa GST
- Click on Reco-R1 button on the left side
- Select the target GSTIN & Period
- Click on Match & Reconcile
- Click on the relevant section to see the details of reconciliation
- Click on Reconciliation Report button to generate the report in Excel format