Business & Policy | News & Insights

How to Choose the Best Online GST Billing Software for Your Business

Published: November 17, 2023
Author: TEXTILE VALUE CHAIN

With the implementation of GST across India, businesses need to adopt the right billing software to stay compliant. Choosing the best online GST billing software can streamline invoice generation, filing returns, managing inventory, and more. This blog post will help you understand key factors to consider when selecting GST billing software for your business.

Create Compliant Invoices Effortlessly

One of the most important features of GST billing software is its ability to generate invoices that fully comply with complex GST regulations. Rather than getting bogged down in figuring out tax rates, HSN codes, and place of supply details yourself, the software should do it for you. It should automatically calculate the exact GST to be charged based on the latest rules. This prevents errors that could happen if you tried to work out the taxes manually.
Seamless GST Return Filing Filing regular GST returns is mandatory. The billing software you choose should seamlessly integrate GST return filing. It should auto-populate return forms like GSTR-1 and GSTR-3B based on sales and purchase entries. Software with easy return filing features will save you time and minimize errors caused by manual data entry. Before purchasing, check if the software supports filing returns for multiple GST registrations if you have more than one business vertical.

Comprehensive Inventory Management

Managing stock levels is an integral part of running a business. Look for billing software that lets you maintain inventory easily. It should allow you to create products/services, define units, set minimum stock levels, manage warehouses, and more. Robust inventory management features will give you visibility into available stock and help you avoid out-of-stock situations. Integrated inventory tracking also ensures your GST returns accurately reflect inward and outward supply.

Purchase Management

Most businesses need to procure goods/services from multiple vendors. The billing software should allow you to create purchase orders, record expenses, and sync with accounts payable. This gives you a centralized view of purchases and expenses. The software should also let you claim input tax credit seamlessly based on purchase invoices. This helps optimize your working capital requirements.

E-Way Bill Integration

Generating e-way bills for the movement of goods is a GST requirement. Choose billing software to generate e-way bills directly or integrate with the government portal. Automated e-way bill creation avoids delays and minimizes errors in product/vehicle details. You should be able to generate consolidated e-way bills for multiple invoices and easily reconcile bills with shipments.

Mobile Access

Look for GST billing software that offers apps for mobile access. With mobile apps, you can create/send invoices, track inventory, manage expenses, and more from anywhere. This gives you flexibility and ensures business continuity even when you are on the move. Before choosing software, check app ratings/reviews to ensure the mobile interface is well-designed.

Data Security

Your business data contains sensitive financial information and customer details. The billing software must provide robust data security features to prevent unauthorized access and data leaks. It should have role-based access, password protection, data encryption and more. The software vendor should clearly explain their data security protocols and how they ensure compliance with standards. This gives you peace of mind regarding your business data.

Customer Support 

You need access to expert help in case you face any issues with the billing software. Look for software vendors that provide multiple customer support channels like phone, email, chat etc. They should have a qualified support team to address your queries promptly. You can assess responsiveness by contacting customer support before purchasing the software. Multi-channel customer support also shows the vendor's commitment to client satisfaction.

Conclusion

Choosing the right GST billing software takes research and comparing options based on your business needs. Keep the above factors in mind while evaluating solutions to find one that offers a mix of usability, features, security, and support. Investing in robust, cloud-based software that evolves with changing GST rules can simplify compliance for your business. Ensure you involve your accounting team in the software selection process before deciding. With powerful GST billing software, you can focus on growing your business without worrying about the paperwork.

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