What Changes Should be Done in Profit Books Due to GST?


Many people are wondering lots of things about the GST. GST means Goods and Services Tax which is an indirect tax applicable that replace the cascading tax levied by the central and government states. This tax is applicable throughout India and now it is creating the biggest impact on the business. There are some changes have to seen in the profit books due to GST. You can know and learn more about the changes in profit books like in vendor service, vouchers, invoice, product screen and many more. It plays an important role and many changes you can see in the profit due to GST. With the help of GST, you can easily find the tax liability. Profitbooks help in getting the information about the invoicing, vendor services and many other things in details. Now you can enhance your business in a convenient way. Now a non-account businessman can confidentially comply with the new law and tax.

New Features in Profit-books  

Profitbooks has come with new features. Now you can easily understand the new law and tax. Whether you are an accountant or non-accountant, you can use the Profitbooks with new features. There are lots of changes can be seen in the profit books due to GST which make your work easier and convenient. You can easily use the software and able to understand it without any kind of trouble. You can collect the information in the electronic ledger and also record the tax payments. You can get the complete data information about the delivery challan of the supplied goods and applicable taxes.

Easy to Register in the System

There are lots of changes and updated can be seen in the Profitbooks. In the system, you can easily register the GST registration and enter the unique GSTN number. You can specify the address and become the part of the GST composition scheme. The new customer and vendor screen creation is very simple to use. After entering the GSTN number of the customer and suppliers, GSTN will automatically determine the type of tax which is charged on the customer.

Product Screen and Invoicing

When you create the new product in Profitbooks, the mandatory will mention if it is an inventory or service. After this, you can enter the HSN code for the particular item. The government has announced the latest and new GST rated according to the HSN code which is shown in the database in Profitbooks software. Invoice plays an important role in the Profitbooks and it is the most usage by the business owner. The GST invoice contains the mandatory things like GSTN of the customer, place of supply, the applicable rate of CGST, SGST and so on.

Along with this, there are lots of changes have seen in Profits. Many updates are available in ProfitBooks which make the work easier for a business owner. The updates are available in purchasing, delivery challan, advance receipt, credit and debit note, GSTR-1 and GSTR 2 filling. You can easily manage your business and Profitbooks is perfect for all types of business.