Receipts Manager by Zybra

Zybra Accounting Software is an easy to use cloud based accounting software for Small & Medium scale business. It makes Accounting EffortLess and can be accessed Anytime & Anywhere. Zybra is a feature rich software with many features including 1. Dashboard – Real-time updates of data in graphical form. Shows graphs of Total Receivables, Total Payables, Cash Flow, Top Expenses, Income vs Expenses and more. 2. Contact – User can manage all the contacts of Customers & Vendors. User can also view the receivables & payables of each of them & generate customer/vendor statements. 3. Inventory – User can manage basic inventory of items/services. 4. Banking – All Cash & Bank Accounts can be added & managed here. 5. Sales – User can Add/Send/Edit/Covert Estimates/Invoices/Recurring Invoices/Credit Notes/Payment Received for sales related transactions the business. 6. Purchase – User can Add/Send/Edit/Covert POs/Bills/Recurring Bills/Vendor Credits/Payment Made/Expense/Recurring Expense for purchase related transactions the business. 7. Accountant – All chart of accountants & Journal Entries can be managed here. 8. Taxes – User can create different Taxes, Compound Taxes for sales & purchase entries. 9. Documents – This is a basic DMS for all bookkeeping related documents(Invoices/Bills/Receipts/Bank Statements)[this works well with Receipts Manager App]. 10. Reports – Gives access to 40+ different reports including P&L, Cashflow & Balance Sheet 11. Organization Profile – User can manage details about their organization & add logo for each transaction document that is generated. 12. Opening Balances – to enter the opening balance of the last Financial Year when starting to use the software 13. User & Role Management – Apart from basic accounting features, user can also invite/control access to different users for Add/View/Delete rights for different section. 14. Module Preferences – Activate/Inactivate modules when not needed for the business. 15. Live Chat Support – a 24x7 live chat support is provided inside the software.
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Android 4.1 and up
Full internet access.
5.0 4

GST: E-way bills pose threat to business of small transporters

  • Posted on May 15, 2017
  • |
  • By Deep Patel

In GST era, movement of goods worth more than Rs 50,000 within or outside a state will require securing an e-way bill by prior online registration of the consignment.

The draft rules say that to generate an e-way bill, the supplier and transporter will have to upload details on the GSTN (Goods and Services Tax Network) portal. Once an e-way bill has been generated, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal.

A new bill has to be generated by the transporter if the goods are transferred from one vehicle to another. When multiple consignments are to be transported in one conveyance, the transporter needs to indicate the serial number of e-way bills generated in respect of each such consignment.

Further, a physical copy of EBN along with other documents like invoice or bill of supply or delivery challan etc. has to be carried by the person in-charge of the conveyance and needs to be produced for verification. Or else, a Radio Frequency Identification Device (RFID) can be fixed to the vehicle. This device will map the e-way bill and verify it through readers installed at key major check points.

Tax officials will be empowered to inspect any delivery and cross-verify it with the e-way bill to prevent tax evasion. On the other hand, if a vehicle has been detained for more than 30 minutes without a valid reason, the transporter can inform authorities about it on the portal.

The objective here is to eliminate state-wise documentation to ensure smooth movement of goods and reduce the number of check-posts across the country, thus curbing corruption.

While the intent is good, the process of multi-layered declaration of details seems cumbersome.

Archit Gupta, founder and chief executive officer, feels there is a need to take a re-look at the validity of e-way bills. (See Chart) The validity has been calculated based on the distance travelled, but there is not much clarity on the validity of the e-way bill in cases of delayed delivery. “There could be instances where the truck breaks down and there is delay; at such times, what should one do?” he asks.

Apart from that, there is too much reliance on technology. So, transporters, especially in smaller towns, who are not tech-savvy may fail to comply with the process or complain about detention. Also, given the cost involved in installing RFID devices to the vehicle, not many transporters may opt for it.

Logistics and transportation are largely in the unorganized sector and not very tax compliant either; hence, the proposed e-way bills could come as a compliance burden for them, said tax experts. If implemented without further simplification, then it could become a game of “survival of the fittest” for small transporters, they fear.

According to recent a media report, revenue secretary Hasmukh Adhia has promised transporters that tax authorities will provide them time to adjust to the new system and not begin imposing penalties from “Day 1”.

It remains to be seen if the government keeps this promise. Failing which, it could affect the ease of doing business in India, defeating the purpose of GST.

Source LiveMint
  • Posted on May 15, 2017
  • |
  • By Deep Patel
  • |

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