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Full accounting with GST returns

Keep the books in the same system as your interiors jobs. Design fee bills, payment milestones and subcontractor bills arrive as drafts for your accountant, with full reports from ledgers to cash flow. For Indian entities, GSTR-1 and GSTR-3B are worked out from the posted invoices and bills.
PLANSScale only
Compare plansHow it works

The problem it solves

  • Design fee bills and stage payments are raised in one tool and typed again into the accounting package.
  • A subcontractor's running bill reaches accounts on paper, and the retention kept is lost.
  • Your accountant cannot open the entry behind a figure in the profit and loss.
  • GST figures are pulled together at month end and do not match the books.

How it works

  1. An approved design fee bill becomes a draft customer invoice with the entity's sales taxes. A payment milestone that falls due does the same for its amount.
  2. An approved subcontractor running bill becomes a draft vendor bill: the work lines, less retention kept, advance recovered, withholding tax and back-charges.
  3. Your accountant checks and posts the drafts. When a milestone's or fee bill's invoice is paid, it is marked received or Paid by itself.
  4. Users with the accounting Administrator role see the full screens: journal entries, journal items, the chart of accounts and reconciliation.
  5. Open Accounting > Reporting > Financial Reports. Pick a report, a period and the entities; click a line to open its ledger and the document behind it.
  6. For an Indian entity, open GSTR-1 or GSTR-3B for the month and download Excel for the GST offline tool. Filing stays with your accountant.

Everything it does

What arrives from Interiors

  • Design fee bills (stage, retainer, round, hourly) after approval: one-line draft customer invoices; Make Invoice if one failed
  • Payment milestones: a draft customer invoice when the milestone falls due, or Make Invoice by hand. Every hour, milestones whose invoice is paid are marked received with the amount and date
  • Subcontractor bills after approval: draft vendor bills with the subcontractor's bill number, minus retention, advance, withholding tax and back-charges, plus retention released
  • Project expenses paid to a supplier: Make Vendor Bill on an approved expense
  • Purchase orders for furniture, fittings and materials: vendor bills as in standard purchasing
  • With budgets, these invoices and bills fill each project's budget ledger

Full accounting screens

  • Journal entries and journal items, the chart of accounts, and reconciliation of payments with invoices
  • Shown to the accounting Administrator role, with no developer mode needed
  • Customer invoices, credit notes, supplier bills and payments as in standard accounting

Financial Reports (one screen)

  • Executive Summary against the previous period: sales, gross margin, net profit, cash, receivables, payables, receivable and payable days, ratios
  • Profit and Loss, Balance Sheet, Cash Flow Statement (indirect method), Trial Balance
  • General Ledger and Partner Ledger: opening balance, every item with a running balance, closing
  • Profit and Loss by Analytic Account: one column per analytic account
  • Comparison with up to 12 earlier periods or the same period of earlier years
  • Profit and loss with Budget and Variance columns from the budget lines
  • Several entities side by side, or consolidated with inter-company amounts shown and taken off
  • Filters: period, entities, posted only or all, analytic accounts, hide zero lines; settings saved per person
  • PDF (A4 landscape) and Excel of what is on the screen

Other accounting reports

  • Trial balance, profit and loss, balance sheet, day book, cash book and bank book
  • Receivable and payable ageing: not due, 1-30, 31-60, 61-90 and over 90 days

GST returns (India)

  • GSTR-1: B2B, B2CL, B2CS, exports and SEZ, credit and debit notes (CDNR, CDNUR), HSN summary
  • GSTR-3B: 3.1 (a) to (d), input tax credit 4 (A) and net ITC 4 (C), output tax less ITC before the portal's set-off
  • Input tax credit bill by bill
  • Read from posted invoices, notes and bills by invoice date; each line opens its document
  • Excel with each section on its own sheet; the portal's JSON file is not made

Limits of what is built

  • No filing with the GST portal; your accountant files
  • No GST e-invoice (IRN) or e-way bill in SmartMy Interiors
  • No bank feeds or automatic matching of bank statement lines
  • Interiors invoices do not carry an analytic account by themselves; margins per project are in Profitability per project
  • Own-factory cost and stock issued without a purchase order or bill do not reach the project's budget ledger
  • The ledgers show at most 50,000 journal items at a time

Who uses it

AccountantPosts the draft invoices and vendor bills, matches payments, and reads ledgers and GST returns.
Studio manager or finance headReads the executive summary, cash flow and profit and loss against budget and earlier periods.
Owner or directorSees several entities side by side or consolidated.
Interiors ManagerApproves design fee bills and subcontractor bills that become drafts for the accountant.

Where you use it

  • Web: Accounting > Reporting > Financial Reports, Accounting Reports, Budgets and Saved Report Settings
  • Web: Accounting > Customers > Invoices for invoices from fee bills and payment milestones; each fee bill and milestone links to its invoice
  • Not in the phone apps

What you control

Settings

  • Each entity's taxes, financial year and chart of accounts
  • Who has the accounting roles; the Administrator role sees the full screens
  • The entity's default sales tax: put on every draft from fee bills and milestones. Change it on the draft where a line needs another (in India, SAC 998391 for design services)
  • Saved report settings per person, with Open with These

Approvals

  • Design Fee Bill: approved through its chain before the draft invoice is made
  • Subcontractor Bill: approved through its chain before the draft vendor bill is made

Questions

Does it file our GST returns?

No. It works out GSTR-1 and GSTR-3B from your books and gives you Excel for the GST offline tool. Your accountant checks the figures against the portal and files.

Can it make GST e-invoices with an IRN?

Not in SmartMy Interiors. E-invoices and e-way bills are built in SmartMy Trade, Distribution and Manufacturing, not here.

Do we need Scale to raise invoices?

No. Accounting comes with purchasing in Growth, so approved fee bills and due milestones make draft invoices from Growth. Starter tracks fee bills and payments and marks them paid by hand. Scale adds the full screens and reports.

Can we see profit per project here?

Use Profitability per project for that. Profit and Loss by Analytic Account works when entries carry an analytic account, which Interiors invoices do not set by themselves.

Does it keep the subcontractor's retention?

Yes. The draft vendor bill from an approved running bill shows the retention kept as a minus line, and a later bill can release it.

Does it reconcile the bank?

You match payments with invoices and journal items. There is no bank feed or automatic statement matching.

Related features

DESIGNDesign fee agreements, retainers and hourly billsAgree the design fee as a flat sum, a share of the project value, a rate per area or room, or by the hour. Add a retainer and the stages it is billed at. Each bill, including extra concept rounds and hours, goes through approval and becomes a customer invoice.PROJECTSPayment plans that stop the job until paidGive each project a payment plan, such as the ready 10 / 50 / 35 / 5. Milestones fall due when a stage starts: the client is asked for 50 % as production begins. The job does not move on until that money is in. Payments Due shows what every client owes.PROJECTSWork plan and subcontract work ordersPlan the site work from your template and the approved estimate, with dates, the critical path and a Gantt. Give carpentry, false ceiling or painting to subcontractors on work orders at their rates. Pay them only on measured work your manager certified, and charge back the snags they caused.PROJECTSBudgets by OPEX and CAPEXEach interior project gets a budget by cost category, approved before it counts. Purchase orders, subcontractor bills and expenses fill it by themselves, and payment milestone and design fee invoices count as revenue. The project manager is told at 80 % and again over 100 %.PROJECTSProfitability per projectOne row per interior project: the value sold, revenue invoiced, and cost so far split into OPEX and CAPEX. Also what is committed, the margin and how much of the budget is used. Filters show the jobs losing money or over budget.MEASURE AND MAKEPurchasingOrder the furniture, lights and fittings the client approved from their vendors in one step: one purchase order per vendor and project. The vendor confirms and gives ship dates and tracking on their own page, late deliveries are flagged, and nothing is received without an inspection photo.

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