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BIGGER
BETTER
FASTER
EXPERIENCE THE DIFFERENCE
TRANSACTION CONTROL
BEFORE
Management, consultants, auditors have to ask accountant to know the status of any transaction. This sometimes even takes a day to get the information.
AFTER
Management gets alerts and can see status of any bill on the screen
BEFORE
Difficult to control expenses
AFTER
Tranze makes controlling of expenses extremely easy and creates a cost conscious culture within the company since every expense becomes visible and trackable by the management or the CFO
Before
Most disputes with vendors happen due to lack of clarity or absence of Purchase Order
After
Tranze enables the company to create PO, enforce policies like 'No PO – No Payment' and also use PO data for data entry to avoid manual work
All quotations and details of prospective vendors can also be stored online without burdening the accounting system
Before
It is difficult to get a trail of any transaction often leaving the auditors guessing
After
Tranze provides a single Unique Reference Number (URN) using which the entire trail of the transaction is visible with documents
Before
Accountants miss out on various points while booking expenses
After
Tranze nudges the staff to check various aspects and also makes available various information which otherwise is very difficult to obtain. For example a list of past transactions with a vendor with respective documents or GST status of the vendor
Before
Accountant has to visit various other portals to check GST, PAN, MSME and other status of vendors
AFTER
TRANZE makes all information available of the vendors pertaining to GST, TDS, MSME, etc on one screen at the right stage
BEFORE
Currently have to ask the accounting team to see where the work of any transaction is stuck
Or to check who has how much work and how much bandwidth
AFTER
Management has access to different entities on a single dashboard to check where the work is stuck
DOCUMENT
VISIBILITY
BEFORE
Moving documents from remote warehouse or branch at the Head Office is often a time consuming process with documents sometimes getting lost in transit
AFTER
Sharing of documents from warehouse or Branch to HO happens in realtime.
Tranze makes possible to do 5-way match with material and transport photographs in addition
BEFORE
Accountant has to work as a butler providing the same documents to various auditors, consultants, management, etc
AFTER
Just by providing access to Tranze or even to Tally, various stakeholders can get all details and documents of a transaction
Before
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Various documents
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Generated at various stages,
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Over different time periods
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Of various departments & locations
Are difficult to access
AFTER
All documents available to various stakeholders at all stages wherever they are.
Can easily retrieve documents vendor-wise, date-wise, nature-wise
BEFORE
Contracts of various locations are scattered and difficult to find
AFTER
Contracts stored electronically and made available wherever required. Reminders received for renewal and payments
ACCOUNTING
AUTOMATION
BEFORE
Moving documents from remote warehouse or branch at the Head Office is often a time consuming process with documents sometimes getting lost in transit
AFTER
Sharing of documents from warehouse or Branch to HO happens in realtime.
Tranze makes possible to do 5-way match with material and transport photographs in addition
Before
Most disputes with vendors happen due to lack of clarity or absence of Purchase Order
After
Tranze enables the company to create PO, enforce policies like 'No PO – No Payment' and also use PO data for data entry to avoid manual work
All quotations and details of prospective vendors can also be stored online without burdening the accounting system
Before
It is difficult to get a trail of any transaction often leaving the auditors guessing
After
Tranze provides a single Unique Reference Number (URN) using which the entire trail of the transaction is visible with documents
Before
Accountants miss out on various points while booking expenses
After
Tranze nudges the staff to check various aspects and also makes available various information which otherwise is very difficult to obtain. For example a list of past transactions with a vendor with respective documents or GST status of the vendor
How does Tally Sync actually work using TRANZE?
Tally Sync is made possible. All ledgers, items, cost centres from Tally get synced into Tranze on one click
Also, all accounting vouchers created in Tranze are synced into Tally on one click
The way this works is:
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A TDL file is imported within Tally
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A few credentials of the Tranze company are entered in the TDL
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Just on one click on the Gateway of Tally – Ledgers are sent to Tranze
-
Just on one click on the Gateway of Tally Vouchers are pulled from Tranze
All vouchers pulled from Tranze fall under a new Voucher Type – say ‘TR Journal’, ‘TR Purchase’ or ‘TR Payment’ for easy identification of entries that have come from Tranze
Care has been taken to ensure that only a particular mapped company from Tranze syncs with a company in Tally and only the entries of a particular selected period sync with Tally
GST
AUTOMATION
BEFORE
Accountants are doing a lot of work which can be avoided completely at the accounting office where bills are booked
AFTER
Tranze enables the accountant to book an invoice just by selecting the e-way bill entered by the gatekeeper. All the details including invoice number, invoice date and all item details are fetched straight from the GST Portal even though most of it is not displayed on the e-way bill document.
Complete data entry including item details, HSN, quantity, rate, amount, TCS charged by the vendor, etc is done automatically.
Accounting entries are also created automatically which inturn sync with Tally.
Effectively, just on the basis of the QR code scanned by the gatekeeper, entire accounting is getting done within Tally without entering a single word. This is the hero feature of TRANZE which is completely unique and most time saving. To put it in other words, 24x7 accounting is possible even by a person who cannot even read, let alone know what debit credit is.
BEFORE
GSTR2B reconciliation is one big exercise after the 14th of every month and continues for several days till the filing of the GSTR3B return
AFTER
TRANZE does automatic reconciliation of transactions with GSTR2B giving you a summary of transactions that have been matched with the government's portal
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It also provides you a list of items that are appearing on the government portal but not recoded within TRANZE
Before
GST status check does not happen. If at all a user wants to do, it is cumbersome
After
GST status check happens in real-time whenever a bill is picked up for data-entry. Status shows whether:
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The vendor’s registration is active/ cancelled/ suspended
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whether the vendor is a regular or composition dealer
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The exact dates when they have filed their GST returns in last 12 months
The return preference of whether quarterly or monthly
Before
GST prescribed essentials in invoice are not checked consistently
After
Tranze prompts the user to check for 13+ essentials to be included in the invoice. This ensures that the tax authorities do not disallow the claim of Input Tax Credit (ITC) later
I know of a case where just because the HSN code of an item was entered wrongly in the accounting system, the tax authorities raised a claim of Rs. 25 lakh on the business who was a trader of chocolates
Before
GST ‘ITC not available’ is often missed to be recorded in accounts books
After
One toggle button and the amount of ITC of which the credit is not available – gets accounted for automatically as the GST authorities want it
Similarly, GST Cess paid is also added back to expense
Before
GST payable under reverse charge mechanism is often missed out to be booked
AFTER
TRANZE automatically records whether GST is payable on a transaction whether it is mentioned on the invoice or not. This is done along with the reason for the RCM which may be say director services, GTA services or any other. For example, for services taken from outside India, GST is payable under RCM although no such mention is there on the invoice. Tranze easily facilitates this
BEFORE
Gate Keepers are doing work which can be avoided completely at the warehouse gate
AFTER
Tranze enables the gatekeeper to create a Goods Received Note (GRN) just by scanning the QR code seen on the e-way bill. All the details including document number, document type, all item details are fetched straight from the GST Portal even though most of it is not displayed on the e-way bill document.
Before
GSTIN not used effectively
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After
Vendor can be created easily using a GST number including details of its address, constitution, PAN, etc
Before
GST HSN is often not recorded properly
​
After
Tranze prompts the user to enter the HSN and also displays the explanation of the HSN while doing data entry itself just so that it is not left out
Before
​Every time GST is to be recorded, the user has to separately add CGST, SGST or IGST
After
Tranze makes available the recording of the split by just a single selection
BEFORE
Often companies do not release the amount of GST to the vendor until they get the Input Tax Credit in their GSTR2B return. This is cumbersome work to do it manually and keep track of it although it saves some money for the company
AFTER
Tranze enables the withholding of GST amount payable to the vendor by a single click. Later, it also displays against the pending GST amount whether it is appearing in GSTR2B or not
TDS
AUTOMATION
BEFORE
Very often TDS is not deducted or deducted at different rates or company has to keep record of TDS in excel sheets which are often incomplete or have missing entries
AFTER
Tranze does TDS deduction automatically at preset rates and also provides a dummy challan at the end of the month with all transaction details to enable the user to make tax payments without applying logic or memory again
Also, all deduction details relevant for filing of TDS returns is readily made available
APPROVALS
BEFORE
Giving approvals often requires that the approver be available in the office or approvals are often given over emails and Whatsapp which makes the tasks very subjective or difficult to track. Also documents are often not made available before approving
AFTER
Tranze provides clean and clear lists for approval at various stages:
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When the bill is received
-
When it is ready for payment
-
When passing accounting entries
-
When releasing the payment from bank
All are available online which the approver can approve online and view the source document at every stage
Approval lists also available on email with access to the documents here also
PAYMENT
AUTOMATION
BEFORE
Very often it is difficult for the treasury person to check whether any advance is pending with the vendor. Effectively, sometimes vendors get paid even if advance is pending with them
AFTER
Tranze readily shows if any advance is lying with the vendor and can easily deduct the amount payable to them. Effectively the accounting entry gets created automatically
BEFORE
Upcoming payments and GSTR 2B are two distinct things. Checking and reconciling both is a very difficult task.
AFTER
Upcoming payments readily show whether it appears in GSTR 2B or not
Before
It is difficult to keep track of MSME payments since any delay attracts interest at a heavy rate
​
After
Tranze provides a list of upcoming payments as per due-dates
Before
It is difficult to convey to the person making payments or the treasury department to delay the payments beyond the due-date
After
Tranze enables the approver of payment to split a particular payment into pieces and set multiple due-dates for payment
Before
Forex gain/loss calculations are often complex and difficult to enter for inexperienced accountants
After
Tranze books realized gain/loss automatically
Before
At the end of the year a lot of confusion and time needs to be spent to reconcile the books with all vendors
AFTER
Tranze sends a payment advice to the vendor with all details of payment, deduction and also the bill back to them for every transaction. This drastically reduces the mismatches with the vendor to check later
BEFORE
Bank charges and the GST charged in it is very difficult to match with GSTR 2B
AFTER
Tranze makes entering bank charges inclusive of GST a breeze