GSTR 2A Reconciliation in Tally Prime

New Access Technologies offers the most powerful and Advanced GSTR 2A Reconciliation in Tally Prime that comes packed with 5X faster GST reconciliation and intelligence to auto-identify, match entries and assure 100% ITC claim.

GSTR 2B Reconciliation in Tally Prime primarily involves matching the data uploaded by the suppliers with those of the recipient’s purchase data. This basically includes comparing the GSTR-2A auto-populated from suppliers data and the purchase data recorded by the receiver of the supplies. This matching concept also ensures that all the transactions which took place in a particular period have been recorded.

GSTR 2A is an auto-generated read only document which is for information purpose only. GSTR-2B is a new static month-wise auto-drafted statement for regular taxpayers (whether or not opted into the QRMP scheme) introduced on the GST portal. The statement was launched from the August 2020 tax period onwards.

GSTR-2B provides eligible and ineligible Input Tax Credit (ITC) for each month, similar to GSTR-2A but remains constant or unchanged for a period. In other words, whenever a GSTR-2B for a month is accessed on the GST portal, the data in it remains the same without being changed for subsequent changes by their suppliers in later months.

Benefits of GSTR 2B Reconciliation in Tally

The data in GSTR-2B Reconciliation in Tally is reported in a manner that allows taxpayers to conveniently reconcile ITC with their own books of accounts and records. It will help them in easier identification of documents to ensure the following:

• The input tax credit is not availed twice against a particular document.
• The tax credit is reversed as per the GST law in their GSTR-3B, wherever required
• Sometimes, it happens that the vendor has declared his GST liability and credit has not been availed by the purchaser in his GST returns. So, not to lose the claim of ITC, the data should be reconciled on a regular basis. This reconciliation process will ensure no ITC loss on any invoices.
• Under new GST returns, the taxpayers will only be able to claim ITC if the particular invoice is present in the GSTR-BA or supplier’s data. This requirement forces the businesses to reconcile and claim ITC correctly

How to Reconcile GSTR 2A/2B in Tally Prime

Follow these steps for reconciliation in tally using advanced reconciliation module

• 1.Go to GST Portal Credentials from Gate Way of Tally->Display->Statutory Reports->GST Reports.
• 2.Enter GST Portal User Name and accept the screen.
• 3.After that Go to GSTR-2A/2B Report and select tax period you want to reconcile for suppliers bills.
• 4.Now Get GSTR 2A or GSTR 2B Data from Portal with one click on Right side Buttons within 1 minute.
• 5.Once Data is Imported successfully, then report shows automaically each invoice wise statuses like Match, Partial Match, Only in Books or Only in Portal.
• 6.Verify, Filter the Data based on requirement. And also Merge documents based on matcing conditions.
• 7.Then, click on Auto Reconciliation’, the process of the accept and reconcile will start to update status as Pending which invoices are not available in Portal.