India is presumed to be soon the fifth largest economy, given thrust by the inclusive economic growth. Many small and medium enterprises (SMEs) have been encouraged by the government to set-up, survive and grow which have not only strengthened India’s GDP but also provided bulky support to employment generation.
Albeit, the economic policies became much feasible for the SMEs, they face some unprecedented challenges. Financial issues which also includes maintaining the financial transactions in a clear and transparent manner are a major concern for the SMEs.
Role of Accounting Software
Accounting software is an invaluable resource for the SMEs which helps in recording, reporting, and analysis of a firm’s financial transactions. Before accounting software, these tasks had to be performed by hand, using large transaction journals.
HostBooks– India’s No. 1 Accounting Software
HostBooks, India’s number 1 accounting software provides a platform for keeping all the accounting details at one place reducing the manual burden and chances of error.
Hostbooks is an integrated All-in-One cloud-based application, which enable users to maintain Accounting, Tax, GST, TDS, E-Way Bill and Payroll records providing statutory compliance and single click filing service for small and medium businesses. Hostbooks is been developed using automation techniques with latest technology.
It provides an innovative opportunity for the clients to create a customized version of the software owing to the needs and requirements. This integration with the software enables the clients to keep an easy track on all the financial happenings of their firms.
Filing Tax Returns
Fair and transparent maintenance of finances is a pillar for a successful enterprise. Along with managing the accounts, HostBooks is also responsible for all the tax filings including the income tax and the GST.
HostBooks provides an easy return filing of GSTR-1, GSTR-1A, GSTR-2A, GSTR-3B & GSTR-4. Based on the accounts entry and subsequent history, it automatically calculates the tax returns and liability, without the computation of any error.
Facilitating in the taxation process, it simplifies the filing of ITRs through a number of measures like automatic calculations, preparation of return forms, mainatainence of a ledger and outstanding, and uploading of Income Tax returns with ITD web services. If there is any pending refund or return file, the software reports it to the client as well.
Generation of E-way bill
For the shipment of any consignment, export or import, generation of E-way bill for hustle free movement of goods is just a few clicks away. HostBooks provides an easy generation of E-way bill, which could be accessible in the local language to any trader settled far away.
Along with this, the software is able to provide navigation and tracking of the vehicle of transportation from source to the destination.
The HostBooks TDS software helps the client to file TDS/TCS returns. It simplifies filing of forms like 24Q, 26Q, 27Q, 27EQ, 27A & ITNS 281. The software comprises of an inbuilt FVU tool and delivers TDS/TCS statements at every quarter. Data can be transferred easily from Excel/Text/FUV/.TDS formats, real-time Integration with TRACES with a quick TRACES link and easy validation of OLTAS Challan are other important features.
Above all HostBooks removes any threat of data leak as the software is equipped with advanced security measures providing back up and restoration facilities. For further assisting the client a 24/6 professional support is available to resolve issues related to the software.
HostBooks as an accounting software have created a medium for the SMEs to grow and articulate the need of account management by reducing the costs of accounting and allowing better financial decision-making through timely reporting reducing the risk of human error.
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HostBooks Website: https://www.hostbooks.com