It is an age of digitalization. According to the latest survey, the whole trade world is moving to digitization and leaving the manual system behind. So it’s clear enough that the trade organization is getting some further advantages which are making them choose the way.
Through computerized accounting, you can get faster access to information, and it also ensures the reliability. By maintaining a computerized account, it assured the security of your business that no information would leak without any consent of the operator.
And where the main accounts are generally controlled by the experienced operators and mainly Charter accountants, it’s their important duty to look after if the clients out there are following the proper way of audits.
Especially after they come to GST, the transaction has become much harder to keep. From the 1st July 2017, it’s much visible that the other organization has switched to the digitization and online computing to connect with the online GST network.
And additionally, by maintaining a computerized accounting, you can check out the overall condition of your business at once with some little clicks. It also helps to keep the continuous match with the suppliers along with the customers. So after all, the computerized accounting will help to get you the key to success in your business in the easier process.
Important role played by CA of the organization
The charter account sector is the part which plays the most important role in your business. The financial state of your trade and the whole economy is controlled by the Charter account department one way or another. In this GST regime and digitization, a CA’s role is the most important one to mention. Now it’s another matter of concern if the CAs are recommending their clients to maintain the computerized account. The treatment of the clients is a forever important section.
Reasons why CAs should recommend computerized accounting
There are some specific reasons that why the CA’s control on computerized accounting recommendation is highly important for the good of your business.
Unlike the past regime, in the era of GST – every transaction demand the online GST portal uploading criteria that also helps to develop to treat the tax liability and also helps to avail the remaining credit following the record. So until a client maintains his book of record, compliance might get difficult. In term of tax compliance it’s a critical matter to deal with a supplier, so in that case, the accurate transaction is highly required.
37 returns in a year:
According to the previous scenario – when Value Added Service (VAT) was a monthly/quarterly return then service tax warranted a half-yearly return. But as of now, 3 monthly returns and 1 annual return is made in the GST regime. This jump of 13 to 37 returns in the year has made a huge increase of compliance activity. In that case, time and effort are required the perfect compliance.