Invoice Management System (Inward) in TallyPrime
The Invoice Management System (IMS) in TallyPrime helps you download supplier-uploaded invoices from the GST portal, assign the required Action Status, upload the invoices back, and accurately manage ITC, all from a single workspace.
In this way, TallyPrime helps you in managing purchase invoices, claiming accurate ITC, and handling errors in your GST returns. IMS also prevents mismatches in your GSTR-2B and minimise reconciliation efforts.
To watch and learn, refer to the IMS Inward Supplies playlist on YouTube.
Manage Purchase Invoices and ITC
Manage invoices in IMS in few simple steps.
| Download Invoices | Assign Action Status | Upload Invoices |
Download & View IMS Inward Invoices
Download supplier-uploaded purchase invoices from the GST portal and review them in the IMS Inward Supplies report. Analyse invoices using different report views, monitor supplier filing status, identify exceptions, and take the required action for accurate ITC management.
Reconcile IMS Inward Potential Matches
Compare invoices downloaded from the GST portal with the corresponding transactions in your books. Review reconciled, mismatched, portal-only, and book-only transactions, identify differences, and take the necessary action to ensure accurate reconciliation.
Fetch Party Name Using GSTIN/UIN
In the IMS Inward report, some downloaded invoices may appear without a party name. You can use the Fetch Party Name Using GSTIN/UIN feature to retrieve the supplier details from the GST portal and update or create the required ledger before proceeding with voucher creation.
Accept, Reject, or Keep ITC Pending | Set IMS Action Status
Assign the appropriate Action Status to each invoice based on its eligibility for Input Tax Credit. Accept invoices to claim ITC, reject ineligible invoices, or keep them pending for future review. You can also add remarks and set the GST Return Effective Date wherever applicable.
Upload IMS Inward Invoices
Once you have reviewed invoices and assigned the required Action Status, upload the invoices to the GST portal directly from TallyPrime. Once approved, ITC will be reflected in GSTR-2B, based on the set Action Status.
View ITC Summary
Review the consolidated Input Tax Credit available based on the latest IMS actions and reconciliation. The ITC Summary report provides visibility into Available, Future, and Rejected ITC, helping you understand the impact of invoice actions before filing your GST returns.
Recompute GSTR-2B
Recompute GSTR-2B if there are any changes affecting ITC availability. Such as, uploading invoices after assigning IMS Action Status, reversing ITC, modifying purchase invoices, changing the GST Return Effective Date, or if prompted during GSTR-3B upload. Once recomputed, download the latest GSTR-2B to review the updated ITC details.
Reset IMS Action Status
Whenever you need to restart the review process, reset the Action Status assigned to IMS invoices in both TallyPrime and the GST portal. After resetting, download the invoices again and assign the correct action status before filing your returns.
