Best GSTR-2B Reconciliation Software: In-Depth Comparison

We know that you are done with manual GSTR-2B reconciliation, and now you are looking for the best GSTR-2B reconciliation software suitable for your requirements. To save your time and efforts in researching, we have compiled a list of top GSTR-2B reconciliation tools that help you in reconciling the data with maximum accuracy. 

Common Challenges in Manual GST Reconciliation

Manual GST reconciliation may seem easy, just compare every purchase invoice to the data shown in GSTR-2B and check where the differences are. However, in cases where the volume of the invoice is huge, the process does not work efficiently. 

The following is the list of common problems experienced by business owners and CAs while doing manual reconciliation: 

Invoice Mismatches 

Vendors may report an invoice with missing data or data mismatch, such as different data, GSTIN, and submit an invoice under a different name or address. In such cases, it is almost impossible to reconcile the data manually. 

Last Minute Reconciliation Stress 

A majority of companies only do the reconciliation of GSTR-2B a few days before submitting GSTR-3B. If discrepancies are identified after the reconciliation is completed, the company has no time to contact the supplier or make the necessary corrections.

Errors due to Manual Input 

Since manual reconciliation is done using spreadsheets, the error gets compounded each month, and can create a huge variation in the final numbers. Mistakes such as transposing digits or misplaced decimal places are common in manual data entry. 

Complexity of Multi-GSTIN 

If you are a CA or a company operating in multiple states, you have to reconcile the data separately, which is time-consuming if done manually. 

Essential Features of Modern GSTR‑2B Reconciliation Tools

Fortunately, technology can solve many of the issues faced in the manual GST reconciliation process. A modern GSTR-2B reconciliation software utilises automation, sophisticated algorithms, artificial intelligence (AI) and intelligent workflow to cross-verify the data with maximum accuracy. 

The following are the desirable features of a GSTR-2B reconciliation software: 

Automated Fetching and Matching of Data 

GSTR-2B reconciliation software should automatically extract the data from GSTR-2B on the GST Portal and cross-verify the same with the purchase ledger of the company. Munim GST Return filing software directly retrieves GSTR-2B and matches it to the purchase entries in your company. Thus, it eliminates the manual download and upload of data.

Dashboards and Reports for Multi-GSTIN 

If you manage multiple GSTINs or serve multiple clients, you want to ensure that your software offers unified dashboards and reports. This will help prevent compliance gaps across clients/branches.

Smart Categorization 

Ideally, GSTR-2B reconciliation software is expected to sort entries into categories, such as matched, partially matched, only-in-books, only-in-portal, or mismatched. Rather than having to scan through long lists, you can focus on the specific issues. 

Vendor‑wise Summary Views 

The GSTR-2B reconciliation software should show patterns of vendors that frequently file late or incorrectly.

Seamless Integration with Accounting Software 

Ideally, your software should seamlessly integrate with popular accounting software such as Munim Tally, Zoho Books, SAP, or ERPNext. Otherwise, you will find yourself repeatedly exporting and importing CSV files, thus defeating the purpose of automation.

Real-time Alerts 

Look for GST reconciliation software that sends notifications in real-time when vendors miss deadlines or when new mismatches arise. Real-time processing allows you to fix these issues prior to the end of the month.

Role-based Access and Audit Trails 

In order to comply with regulatory requirements and internal control policies, your software must record who made what changes and when. This is an important feature from an auditing perspective.

Top GST Reconciliation Software in India: Detailed Comparison

Closing Notes 

We are hoping you have selected the best GSTR-2B reconciliation software based on your requirements. Still, if you are confused, we recommend that you sign up with Munim GST Return Filing software and get hands-on experience of reconciliation for free and then make your final decision.

Frequently Asked Questions on GSTR-2B Reconciliation

What is GST reconciliation?​

GST reconciliation is the process of comparing your purchase and sales records to the purchase and sales records reported in the GST Portal. Businesses normally perform this reconciliation to verify invoice values, tax amounts, and the eligibility of ITC, thereby avoiding loss of eligible ITC or incorrect claiming of ITC.

How to do GST reconciliation​? 

Firstly, reconcile the books with the GST Portal data for the same time frame (GSTR 1 for sales and GSTR 2B for purchases) and identify any errors such as missing invoices, wrong GSTIN, difference in taxable value, or duplicate invoices. Then, rectify the errors in the books or contact the supplier to correct the errors made in their filings.

How to do GST reconciliation in Excel​? 

Export your Purchase Register from your accounting system, download your GSTR 2B data, and create an Excel sheet for each. Create common columns for Supplier GSTIN, Invoice Number, Invoice Date, Taxable Value, and GST Amount. Then, use VLOOKUP or XLOOKUP and filters to indicate if invoices are Matched, Missing in 2B, or Missing in Books.

What is GST reconciliation in Hindi? 

​GST Reconciliation का मतलब है आपके बिज़नेस की खरीद और बिक्री की एंट्री को GST पोर्टल पर उपलब्ध डेटा से मिलान करना। इससे पता चलता है कि कोई invoice छूटा तो नहीं, tax amount सही है या नहीं, और ITC सही तरीके से claim हो रहा है या नहीं।

What is a reconciliation statement in GST? ​

The reconciliation statement typically identifies mismatched invoices, missing entries, and indicates how much ITC you may be able to claim.

About the author

Mehul Jagwani

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Mehul is a seasoned content writer with a passion for simplifying complex accounting and GST topics. With a keen interest in entrepreneurship and business management, he specializes in creating informative and engaging content for themunim.com. His goal is to help businesses understand and implement accounting and GST software solutions effectively. When he's not crafting content, Mehul enjoys exploring new places and spending time with his Golden Retriever.