With the implementation of GST from 1st of July 2018, there is a huge requirement for millions of small traders and businesses in our State of Kerala to become GST compliant.
As we go forward, a majority of business people will need to hire GST trained personnel to submit their Returns every month. The present availability of people who can do this job is very minimal or these talents are very expensive for small businessmen.
Therefore, it is imperative that more accountants are trained to file Returns for small traders in large numbers. To increase the number of cost-effective accountants, we, at Pearl Accountants, are initiating GST Training courses with one-month duration. We also provide placement assistance.
This one-month training will cover GST practical accounting, Tally, GST, online filing, income tax & TDS, ESI, PF, IT and English. This specialized course will cover all the skills required for a modern accounting job in India.
Expert GST knowledge is a must because:
- Small mistakes can create huge cash flow errors.
- Learning on the job can take up too much time.
- Strict compliance with account keeping is required under GST.
- Entries in registers, accounts, and documents cannot be erased or overwritten very easily.
- All incorrect entries, other than typo errors, have to be struck off and attested before correct entry is made.
- In case registers and documents are recorded electronically, all edited and deleted entries have to be logged.
- In case registers are maintained manually, books of account have to be serially numbered.
A trained GST accountant will know how to use the new version of Tally with its GST enabled benefits to be able to:
- Process all GST invoicing and billing needs including bills/invoices with multi-item and multi-tax rates
- Print invoices without errors
- Process advance receipts and payments
- Process reverse charges in any situation when required
- Issue invoices for transfer between branches
- Issue bill of supply in the case of composite dealers
- Prepare invoices for export transactions
- Make journal adjustments (Input Tax Credit opening balance, utilize Input Tax Credit, utilize cash)
- Pay all indirect taxes
- Easily find and correct any mistakes in the GST Return and see the result immediately to ensure submission of accurate GST Returns
- Segregate information invoice-wise as required for preparing GST Return forms
- Export correct Return forms to GSTN Return format or prepare the Return in the correct format using GSTN utility and then upload to GSTN
A good working knowledge of GST Tally is required due to following reasons:
- Suppliers will record all the goods and services purchases made by you. You are eligible to avail ITC for these purchases. A trained accountant will know how to maintain accurate expense purchase details with GST Tally.
- To ensure problem-free ITC, customers will be careful in selecting suppliers. They will see how well the supplier can handle technology required to be GST compliant. They would prefer to ensure that supplier can reconcile transactions without mistakes. It will be easier for customers to avail ITC if they can reconcile GST Returns filed by the supplier. This will be smooth if supplier files error-free Returns. Expert knowledge of GST Tally will enable an accountant to ensure that his company meets these requirements.
- Since buyer gets input credit only if the seller pays GST, your customers might request you to upload your sales invoice on GSTN. This would be to prevent any disputes at a later stage. This will be taught at GST Tally training.
- There might be situations where your records may not match with that of your suppliers/customers. You will then have to reconcile all such mismatch. A trained expert will be able to retrieve data and reconcile easily, saving time.
- Reconciling mismatch with your suppliers/customers might lead to changes in data several times. A trained accountant will be able to handle this easily, saving time and effort.
- A trained expert will be able to catch any discrepancies or errors very easily through data updated in GST Tally. Rectification will be easier, leading to accurate data.
With the new procedures and requirements under GST, your already busy office staff may not have the time to learn the new systems and change accounting methods to meet the new requirements.
Our own trained GST Tally accountants will be able to help you in this regard. We can provide accountants with at least one year experience and GST training to sit in your office and help with the accounting transition.
We can also provide accountants to work from your office to file GST Returns as per due dates.
Using our accountants will help you manage your time and cost effective since you need to pay for their service as and when required only.