How to Create a GST Purchase Invoice - LEDGERS

Purchase invoices are created by business customers to record expenses. For example, if a business had purchased Rs. 1 lakh worth of Chairs from a supplier and paid 18% GST on the supply, the supplier would issue a tax invoice. The customer would then record the expenditure in a purchase invoice to claim input tax credit and setoff GST liability. Thus, to

file GSTR-2 GST return, the taxpayer must record all purchases made by creating purchase invoice on LEDGERS GST Software.

Creating a Supplier

Before creating a

GST purchase invoice on LEDGERS GST Software, ensure that the supplier is added to the list of suppliers with the business. To add a supplier, click on Contacts -> Suppliers -> Add Supplier.

Add Supplier In the add supplier window, enter details of the supplier available. In case all the details are not available, you can use the "Supplier Onboarding" feature to automatically collect the required information from the supplier. For claiming GST Input Tax Credit, the suppliers GSTIN must be updated. Hence, if the supplier is registered under GST, ensure that GSTIN is updated. Once all the available information is updated, click on Add Supplier to create an account for the supplier.

Supplier Onboarding

Creating Purchase Invoice

To create a purchase invoice, click on Expenses -> Create Purchase Invoice. In the page, click on the Supplier drop-down and select the supplier. In the delivery address, select the address where the supply was delivered.

Creating a Purchase Invoice Once the supplier and recipient details are updated, update the purchase details. In the name, enter the name of the product and description. There is no requirement to enter the item in the Goods and Services master. Even if a product is not included, you can enter the name and click on the item to add the same and create a purchase invoice. Once all the details are entered, verify the amount of GST input tax credit claim. The details of input tax credit claim are automatically populated by LEDGERS. If the details entered in the purchase invoice is OK, click on the Create Purchase Invoice button to record the expense.

Verify Input Tax Credit

LEDGERS is available for Free. You can signup for an account here.

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Frequently Asked Questions

Common questions about Create GST Purchase Invoices with LEDGERS.

To add a new supplier, go to Contacts -> Suppliers -> Add Supplier. Enter the available details for the supplier in the add supplier window. If you don't have all the details, you can use the "Supplier Onboarding" feature to automatically collect the required information from the supplier. Be sure to update the supplier's GSTIN if they are registered for GST, as this is required for claiming input tax credit.

When creating a purchase invoice, you need to select the supplier from the drop-down list, and the delivery address where the supply was delivered. Then, you need to enter the name of the product, description, and other purchase details. LEDGERS does not require you to pre-enter the goods and services in a master list; you can simply enter the name and add the item to create the purchase invoice.

LEDGERS automatically populates the details of the input tax credit claim based on the information entered in the purchase invoice. Before creating the purchase invoice, you can verify the amount of GST input tax credit that will be claimed to ensure the details are correct.

Having the supplier's GSTIN is not mandatory for creating a purchase invoice on LEDGERS GST Software. However, if the supplier is registered for GST, it is essential to update their GSTIN to claim input tax credit on the purchase.

Yes, you can create a purchase invoice on LEDGERS GST Software for a product that is not listed in the Goods and Services master. When entering the purchase details, you can simply type the name of the product and description, and LEDGERS will allow you to add the item and create the purchase invoice.

To create a purchase invoice on LEDGERS GST Software, navigate to the Expenses section and click on "Create Purchase Invoice." This will open a new page where you can select the supplier, delivery address, and enter the purchase details.

Yes, LEDGERS GST Software is available for free. You can sign up for an account on their website to start creating purchase invoices and managing other GST-related tasks without any charges.

When creating a purchase invoice in LEDGERS GST Software, the details of the input tax credit claim are automatically populated based on the information entered. To claim the input tax credit, you need to ensure that the supplier's GSTIN is updated correctly, and the purchase details are accurate. The claimed input tax credit can then be used to set off your GST liability when filing GSTR-2 returns.

Yes, LEDGERS GST Software allows you to edit or update a purchase invoice after it has been created. You can access the previously created purchase invoices and make any necessary changes or corrections to the details, such as supplier information, purchase details, or delivery address.

To file GSTR-2 GST returns, taxpayers must record all purchases made by creating purchase invoices. LEDGERS GST Software provides a dedicated feature to create purchase invoices, which captures all the necessary information required for claiming input tax credit. By maintaining accurate purchase invoice records in LEDGERS, businesses can easily compile the data and file their GSTR-2 returns efficiently.