How to Create a GST Estimate? - LEDGERS Guide

You can easily create a GST ready estimate using

LEDGERS software by following the following steps:

Login to your LEDGERS account. You can log in using this link.
Once you have logged in to your account, select the business you would like to create an estimate.
Go to Sales -> Create Estimate.

Note: Before starting to create an estimate, ensure that the Goods and Services master is populated with information about the goods and services supplied by your business. Also, update the business address information under Business -> Settings to begin creating estimates or invoices using LEDGERS.

GST Estimate vs GST Invoice

Estimates should be created instead of an invoice when payment has not been received from the customer AND goods or services have not been supplied. The moment an invoice is created, the liability to pay

GST arises on the business, irrespective of the status of payment by the customer. Hence, estimates are to be provided as a pre-cursor to GST invoice, before payment or start of supply of goods or service. Read the Guide to GST Invoices. Procedure for creating a GST invoice.

Customer Data is Available

If customer data and goods/services information are updated on LEDGERS, then you can create an estimate in less than a minute. Just select the customer from the drop-down and the system will show the default billing and shipping address for the customer. You can then proceed to select the item from the select product drop down. Based on the shipping address of your customer and your principal place of business, CGST, SGST or IGST is automatically calculated by the system.

Customer Data NOT Available

If you have not updated the customer information before starting to create an estimate, then you can click on the + Icon next to the customer name to create a customer account. On updating the customer information in the pop-up, the information is auto-populated into the invoice.

Reverse Charge Applicable?

In case GST is payable on reverse charge basis, you can select Reverse Charge is Applicable to account the invoice under reverse charge basis. You can also mark if the invoice is made to a customer in a SEZ zone or if the supply is made through an e-commerce operator. Supplies made through e-commerce operators must be mentioned separately on the GST return and TCS must be deducted by the e-commerce platform.

Create Gst Estimate

Once you have verified all the information as shown on the screen, you can click on the Create Estimate button to create the estimate. After the GST estimate is created, the estimate will not be editable. By clicking on the print icon at the top corner, you can print a copy of the invoice or save the document as a PDF. You can also email the invoice to your customer by clicking on the email button. To convert an estimate into an invoice, you can again click on the convert icon to populate an invoice. Know more about

creating a GST invoice.

Sample GST Estimate Created Using LEDGERS

A sample GST estimate created using LEDGERS GST software is shown below:

GST Estimate

Video Guide to Creating GST Estimate

You can refer to the following video guide for creating a GST estimate using LEDGERS GST software.

Back to Learn

Frequently Asked Questions

Common questions about Create a GST Estimate Online with Financial Software.

To create a GST estimate on LEDGERS, first log in to your account and select the relevant business. Then, go to the Sales menu and click on "Create Estimate." Fill in the customer details, select the products or services being supplied, and LEDGERS will automatically calculate the applicable GST (CGST, SGST, or IGST) based on the shipping address and your business location.

A GST estimate should be created when payment has not been received from the customer and goods or services have not been supplied yet. On the other hand, a GST invoice should be generated when the payment has been made or the supply of goods or services has commenced, as GST liability arises at that point, regardless of the payment status.

Yes, if you have not updated the customer information beforehand, you can click on the "+" icon next to the customer name field while creating the estimate. This will open a pop-up window where you can enter the customer details, which will then be auto-populated in the estimate.

If the GST is payable on a reverse charge basis, you can select the "Reverse Charge is Applicable" option while creating the estimate. This will ensure that the estimate is accounted for under the reverse charge mechanism.

Yes, LEDGERS provides an option to mark if the estimate is being created for a customer located in an SEZ zone. This information is essential for GST compliance.

If the supply is being made through an e-commerce operator, you can mark that option while creating the estimate. This is important because supplies made through e-commerce platforms must be reported separately on the GST return, and the e-commerce operator is required to deduct Tax Collected at Source (TCS).

Yes, after creating a GST estimate, you can convert it into a GST invoice by clicking on the "Convert" icon. This will populate an invoice with the details from the estimate.

After creating the GST estimate, you can print a copy or save it as a PDF by clicking on the "Print" icon. Additionally, you can email the estimate directly to your customer by clicking on the "Email" button.

No, once a GST estimate is created on LEDGERS, it cannot be edited. This ensures the integrity of the estimate and maintains compliance with GST regulations.

Yes, LEDGERS provides a video guide that walks you through the process of creating a GST estimate step-by-step. You can refer to this video guide for a visual demonstration of the process.