Free GST vs Bank Receipt Reconciliation Tool – Simplify Your GST Audit with FileBob.in

FileBob.in offers a free online tool designed to help businesses reconcile their GST turnover with actual bank receipts, ensuring accurate compliance and audit readiness.

🔍 What Is the GST vs Bank Receipt Reconciliation Tool?

This tool assists users in identifying discrepancies between declared GST turnover and actual bank receipts. It allows for:

• Uploading or entering monthly bank receipt data.

• Classifying each transaction (e.g., GST sale, advance, old dues).

• Automatically calculating classified totals.

• Comparing with declared GST turnover.

• Providing clear justifications for any differences.

This is particularly useful during GST audits, assessments, and for maintaining clean and compliant books.

✅ Key Features

• Automatic Reconciliation: Matches bank credits with GST turnover.

• Transaction Classification: Categorizes each transaction for clarity.

• Audit-Ready Reports: Generates summaries suitable for audits.

• Error Identification: Highlights possible errors in GSTR-1, GSTR-3B, or books of accounts.

• User-Friendly: No login required; completely free to use.

👥 Who Should Use This Tool?

Ideal for:

• Small businesses and startups.

• Freelancers and service providers.

• Tax professionals, CAs, and accountants.

• Anyone filing GSTR-1 and GSTR-3B monthly or quarterly.

🛠️ How to Use the Tool

1. Select the month and year for reconciliation.

2. Enter each bank transaction: date, amount, remarks.

3. Classify the transaction type.

4. Enter your GST turnover for that period.

5. Review the generated reconciliation report highlighting differences and justifications.

📌 Importance of Reconciling Bank Receipts with GST Turnover

• Compliance: Ensures declared turnover matches financial records.

• Audit Preparedness: Avoids penalties during GST or income tax audits.

• Fraud Detection: Identifies missing invoices or undisclosed income.

• Cash Flow Tracking: Helps track real vs reported revenue.

• Advance Tracking: Helps identify service tax applicability on advances.

For more details and to use the tool, visit:
🔗 Free GST and Bank Reconciliation Tool