Goods and Services Tax or GST applies to most of the products and services available in the market. All customers have to pay this tax while making a purchase. GST billing software allows you to calculate the GST applicable on different products accurately while also performing other functions such as filing returns and generating invoices. Many free GST billing software applications are available in the market. Choosing the correct one for your business can be the stepping stone to success.
This article discusses the benefits you can get if you use a good GST billing software for your business.
Benefits of Using Free GST Billing Software
Here are some of the benefits of using a GST billing software for your business:
- Customised formats
You can use the GST bill formats to create a particular style of invoice for your business. These invoices will carry your brand name, logos, and colours. These customisations help you create a professional look for your business.
- Accurate invoices
Earlier, invoices were generated by hand. This gave a lot of scope for human errors. GST calculations involve using different percentages for different items, which may lead to further confusion.
A free GST billing software can generate accurate invoices quickly, thus eliminating the scope for human error. Moreover, the software can also calculate different GST amounts such as CGST, SGST, etc. Most GST billing software applications are also updated regularly according to the latest GST guidelines. Hence, you can easily generate GST-compatible invoices without the fear of mistakes.
- Data storage
In many cases, data storage is a major problem. When data is stored on physical devices, there is always the fear of data loss due to human or software errors or even natural calamities.
Many GST billing software applications use cloud-storage facilities. This helps you back up sensitive financial data on the cloud and access it whenever needed.
- Remote access
GST billing software allows you the freedom to access data any time, anywhere. You can use multiple devices to access your data. This feature is also useful while auditing and filing tax returns.
- Transaction tracking
Many GST billing software applications track your transactions. They can make a list of the transactions and also remind you of pending payments and other details. This is a very useful benefit of GST billing software.
- GST return filing
Every business owner has to file their GST returns to ensure the smooth running of their business. GST billing software can calculate and file your returns. If you are a business owner, you can file your GST return from the comfort of your home within a few clicks.
Many GST billing software is either free or available at affordable prices. They can be used by any business, no matter what size it is. You can think of this software as a replacement for a person who needs to be trained in the nuances of GST calculations. GST billing software performs calculations and more at a fraction of the cost.
GST billing software has made life easier for business owners since the introduction of GST. Free GST billing software is efficient and performs multiple tasks quickly and accurately, thus reducing the need for manpower and the scope of human error. Using customized invoices, you can market your business to a wider audience. In other words, GST billing software has changed the face of GST calculations for businesses.