GST Adjustment Voucher

Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the GST Adjustment Voucher preparation options.

Before we begin, let us understand about the need of GST Adjustment Voucher Entry and the relevance of this particular activity.

Apart from payments to vendors, you have to make payments for statutory compliances Like deposit of GST Net Payable which you need to account for in your books of accounts with adjustment of Input Tax credit and Output Tax Payable. Therefore, you can enter your all the adjustments from this form and create actual payable liability of Tax to Government on GST Portal.

Alignbooks recommend you use this form for the GST adjustment as the data will reflect in Report GSTR3B directly.

You can create a GST Adjustment Voucher under Finance Module of AlignBooks.

The key functions of GST Adjustment Voucher Module are:

Creation of a New GST Adjustment Voucher,
Modification of an existing GST Adjustment Voucher;
Deletion of an existing GST Adjustment Voucher.

Configuration

AlignBooks provide you the facility to configure your GST Adjustment Voucher documents with respect to choice of maintaining multiple series of documents, choice of sending Email and SMS on creation/edit/approval of the document and for Approval System setting etc.

Click on “Configuration” to configure this document. Click here “How to Configure a Document”, to know more about this utility.

Let’s now understand how to create a New GST Adjustment Voucher in simple steps;

You have two ways to prepare a GST Adjustment Voucher;

· Enter fresh data for the first time;

· Open an existing document and use the “Copy” feature of AlignBooks to make the necessary changes. This will save your time and efforts;

Let’s enter the fresh set of data for the first time;

Location / Branch

Under this field, You can select the location, if you are handling Multi Locations. System will ask for this information only if you have configured Multi Locations - "ON” under General Setup and System will fill the default Location if you have configured the Default Location under Data Access Rights.

If your desired Location does not exist in the menu, you can create a New Location by clicking on

option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited / deleted and then click on

. The Location will be opened in Edit mode and you can edit it and save by click on

. You can delete it by click on

GST IN

: Select the GSTIN from the drop down menu.

Month

: Select a month from the drop down which you wish to make adjustment for the month. By default, the system will take the current Month. You can also pick a different month by just clicking on the drop down arrow function.

Year

: Select a Year from the drop down which you wish to make adjustment for the year. By default, the system will take the current year. You can also pick a different month by just clicking on the drop down arrow function.

Invoice Date

: Enter the date which you wish to reflect in the document. By default, the system will take the current date. You can also pick a different date by just clicking on the calendar function

Invoice No

: System will generate voucher number based on the Voucher Numbering configuration, if you have opted to maintain "auto prefix” and “auto numbering”.

Prefix : While configuring your document, if you have opted to “maintain manual prefix”, select a prefix from the drop down list. If the required prefix does not exist in the list, you are able to create a new one by clicking on

Icon or

option within the dropdown menu and input a name. This field will not be available if you have opted "Not required".

Number: While configuring your document, if you have opted to “maintain manual numbering”, enter a document number here.

So far we have entered the relevant details to clearly identify the GSTIN and Period.

Click on

button to fetch the balance of Input Tax credit and Output Tax Payable for CGST Tax, SGST Tax and IGST Tax, up to the Month and Year specified above for the selected GSTIN.

Ledgers of GST Cash Ledger, Input Tax Credit and Output Tax Payable are already mapped in Default Ledgers in Finance Setup. You can change / check the mapping of default ledger from here.

Adjustment Table

Balances of Input Tax Credit (ITC) ledgers: Integrated Tax (IGST), Central Tax (CGST), State Tax (SGST) and Cess will show under Paid through ITC in respective columns

Balances of Output Tax Payable ledgers: Integrated Tax (IGST), Central Tax (CGST), State Tax (SGST) and Cess Amount in different Row.

If you want to adjust the input credit of respective tax with the output payable, then specify the value in editable field of respective tax row with respective Tax Column.

Total Adjusted ITC for each tax column cannot be greater than the available credit and Total adjusted in output payable for each tax row cannot be greater than Total Output Tax payable.

For Example: Output Payable for CGST: Rs. 2440.69 and SGST: Rs. 2440.69 and Input Tax Credit available for CGST: Rs. 585.22 and SGST: Rs. 585.22

Here Output payable of IGST is Nil so from Input ITC State Tax amount cannot in adjusted against Row 1: Integrated Tax, so adjusted against the Row:3 State / UT Tax.

After adjustment Balance amount of Output Tax payable will be entered in Paid in Cash column which will be posted in GST Cash Ledger. So Net Tax Payable liability will be created in GST Cash Ledger and on payment of Tax through bank this ledger will be debited.

Narration

: Input here a detailed narration pertaining to the voucher.

Save Voucher

: Click on the button to save the document prepared by you.

Print Voucher

: Click on this button to save voucher and Print the document prepared by you. Click here “Print Utility”, to know more about this utility.

You have completed creation of New GST Adjustment Voucher.

Clear Detail

: Before clicking this option make sure that the data entered is no more required by you; the moment you click on this option the system will erase all the data and give you an empty screen to enter fresh data.

Mail / SMS

: Click on this Button, If you want to send a Email (with Attachment). Click on

beside Mail and click on Email Link (Email with Link included for Document Print) or click SMS.

Schedule Document

: If you want to create a schedule for this document, click on

. Click here “Schedule a Document”, to know more about this utility.

Document History

: Click here to know the History of the Document for date and time of creation / modification / delete / cancel / restore. This button will be active only when document is open an existing document and when Manage Document History : “ON” in General Setup.

Import Voucher (Excel File)

: Click on this button to Import Data and select a file from which Data is to be imported. Click here “Import Utility”, to know more about this utility.

Open Document

: Click here to open an existing GST Adjustment Voucher. Click here “Open a Document”, to know more about this utility.

Delete Document

: If you wish to delete any existing voucher, open an existing voucher and specify the reason for delete in "Edit Remark" field then Click on this button

to delete the Voucher.

Copy Document

: Click here to copy the values from an existing GST Adjustment Voucher. Click here “Copy from a Document”, to know more about this utility.

Cancel Document

: If you wish to cancel any existing voucher, open an existing voucher and specify the reason for cancel in "Edit Remark" field then Click here

to Cancel the Voucher. when you cancel a document then document status will update as "Cancel" and All financial / stock impact (whichever applicable) will reverse for this voucher.

Restore Document

: If you wish to restore any existing voucher, open an existing voucher and specify the reason for restore in "Edit Remark" field then Click here

to Restore the Voucher. when you Restore a document then document status will update as "Open" and All financial/stock impact (whichever applicable) will be restored for this voucher.

We hope you enjoyed this tutorial. Please give us a call for further help. Happy Aligning!

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