Managing compliance under the Goods and Services Tax (GST) regime is no easy task, especially when it comes to documentation like the Bill of Supply under GST. Whether you’re a small business owner, freelancer, or a dealer under the Composition Scheme, issuing accurate bills of supply is essential for staying compliant.
But let’s be honest-handling it manually can be both time-consuming and error-prone. That’s where Accounting Software steps in to make your life easier. In this blog, we’ll explore the best solution for handling bills of supply efficiently, and why MargBooks could be the smart choice for your business.
What is a Bill of Supply Under GST?
A Bill of Supply under GST is a document issued by:
- Composition scheme dealers
- Suppliers of exempted goods or services
- Suppliers who are not permitted to charge GST
Unlike tax invoices, a bill of supply does not include any tax component. However, it must include key details like:
- Name, address, and GSTIN of the supplier
- Date and bill number
- Description and value of goods/services
- Signature or digital signature of the supplier
Missing any of these details can land your business in trouble during audits or GST return filing.
Why Accounting Software is a Must for Bills of Supply
Handling bills manually using Word or Excel is a thing of the past. Here’s why switching to Accounting Software makes sense:
- Minimises Human Errors: Auto-calculated fields reduce chances of mistakes.
- Quick and Professional: Generate well-formatted bills in seconds.
- Ensures GST Compliance: Keeps you aligned with government regulations.
- Better Record Keeping: Easy search, filter, and track options.
- Go Paperless: Most Online Accounting Software allows e-billing and cloud backup.
What to Look for in Accounting Software for Bills of Supply
When choosing the right Online Accounting Software, keep an eye out for these features:
1. GST-Ready
Ensure the software is updated as per the latest GST notifications and is capable of generating accurate GST reports.
2. Customisable Billing
You should be able to include your company logo, T&Cs, and design elements that make your bills look professional.
3. Cloud Access
Having your accounting data accessible anytime, anywhere is a big plus-especially for remote teams and business owners who travel.
4. User-Friendly Interface
The software should be simple to use, even for those with no formal accounting background.
Why MargBooks is Ideal for Bills of Supply Under GST
Among the available options in the market, MargBooks has emerged as a reliable, affordable, and highly functional Accounting Software tailored for Indian businesses. Here’s why it stands out:
GST-Enabled Bill Generation
MargBooks is fully GST-compliant. It allows users to easily create Bills of Supply under GST with all the mandatory fields auto-filled, reducing the chance of missing out on important details.
Cloud-Based Convenience
Being an Online Accounting Software, MargBooks can be accessed from anywhere using a browser or mobile app-perfect for business owners on the go.
Easy to Use
Even if you’re not from an accounting background, you’ll find MargBooks intuitive. The dashboard is clean, with options clearly labelled for billing, inventory, reporting, and more.
Real-Time Data Sync
No more waiting for reports or backups. MargBooks syncs data in real-time so that your entire team stays on the same page.
Affordable Plans
One of the key benefits of MargBooks is its budget-friendly pricing. It offers all essential features at a fraction of the cost of many complex accounting systems, making it ideal for startups and SMEs.
Benefits of Using MargBooks for Your Business
Let’s summarise the main advantages of using MargBooks for managing bills of supply:
- Accurate GST-compliant billing
- Data security and cloud storage
- Access from mobile and desktop
- Comprehensive business reports
- Inventory and stock management
- Suited for various business types – retail, pharma, distribution, and more
Final Words
Staying compliant under GST doesn’t have to be overwhelming. Whether you’re running a small business or managing a growing enterprise, using the right Online Accounting Software makes all the difference. With its intuitive interface, GST-ready billing features, and cloud-based access, MargBooks proves to be one of the best tools available for handling the Bill of Supply under GST.
So, why juggle spreadsheets when you can simplify your accounting and ensure 100% compliance with just a few clicks?
