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Chart of Accounts, GST and TDS Set Up Inside Your ERP
Define your chart of accounts, GST tax groups, HSN and SAC codes, deduction taxes, banks, cheque books and cash books in the same system that runs your operations, and start with opening balances that match your books.
What it looks like without a system.
GST rates typed in by hand
When the rate is keyed into every invoice, one wrong HSN rate repeats across a month of documents before anyone notices.
Opening balances nobody trusts
Moving systems without bill-wise opening outstanding turns the first month of receivables and payables into guesswork.
Banks and cheques on paper
Cheque series, bank accounts and petty cash live in registers and drawers, so nobody can say which leaf went where.
How FlexgrewERP solves it
FlexgrewERP's Finance section holds the accounting and tax setup the rest of the system works from. Your chart of accounts sits as one structured tree. Taxes and charges carry their computation, rate and effective dates; GST tax groups split the rate into CGST, SGST and IGST; HSN codes and SAC codes are linked to their tax groups; and deduction taxes such as TDS carry their GL account, standard rate and threshold. Banks, cheque books with their cheque ranges, and cash books with a responsible person sit alongside, and GL opening balances are entered per financial year with a bill-wise breakup for every customer and vendor.
What Finance & Taxation includes
Every capability below exists in the product today — no roadmap promises.
Chart of accounts
Your company's account structure as one tree, expandable group by group.
Taxes & charges
Each tax or charge with its type, computation method, rate and effective-from and effective-to dates.
GST tax groups
Tax groups that carry the total rate and split it into CGST, SGST and IGST.
HSN & SAC codes
HSN chapters and codes linked to tax groups for goods, and SAC codes with a default tax group for services.
Deduction taxes
Deduction taxes such as TDS, each with its tax type, tax group, deduction GL account, standard rate and threshold.
Banks, cheque books & cash books
Banks and their accounts, cheque books with cheque ranges and who they are assigned to, and cash books with a responsible person and opening balance.
Exchange rates
Currency rates against the rupee with their effective dates, fetched in one click.
Opening balances with bill breakup
GL opening balance entries per financial year, and a bill-wise breakup of opening outstanding for each customer and vendor.
Automatic numbering
Every finance master gets its own code prefix with automatic numbering.
The finance & taxation workflow
Set Up Accounts
Chart of accounts
Define Taxes
Tax groups, HSN, SAC, TDS
Add Banks & Books
Banks, cheque and cash books
Enter Opening Balances
GL and bill-wise
Transact
Sales and purchase documents
What changes for your business.
- The right GST every time
- Rates come from tax groups linked to HSN and SAC codes, not from memory.
- A clean day-one start
- Bill-wise opening balances mean receivables and payables start from real outstanding amounts.
- Rate changes without rework
- Effective dates let a new rate start on its date while history keeps the old one.
- Banking you can account for
- Cheque ranges, bank accounts and cash books each have an owner and a record.
Finance & Taxation questions, answered.
How does FlexgrewERP handle GST?
Tax groups carry the total rate split into CGST, SGST and IGST, and HSN and SAC codes are linked to their tax groups, so the rate follows the item or service. Sales invoices carry GST, and the sales register reports it.
Can we bring opening balances across from our old system?
Yes. GL opening balances are entered per financial year, and a bill breakup records each customer's and vendor's open bills, so outstanding receivables and payables start correct.
Does it support TDS?
Deduction taxes such as TDS are defined with their tax type, tax group, deduction GL account, standard rate and threshold.
Can we keep exchange rates for foreign currencies?
Yes. Exchange rates are kept against the rupee with an effective date for each, and current rates can be fetched in one click.
Related modules
Finance & Taxation is stronger when connected — these modules share its data automatically.
Sales Management
Manage the complete sales cycle — enquiries, quotations, orders, delivery challans, GST invoices and payments.
Purchase Management
Run procurement with requisitions, approval workflows, purchase orders and incoming material QC.
Reports & Analytics
20 ready reports plus custom reports across sales, purchase, stock, production, QC and outstandings.
Guides for this module
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See Finance & Taxation in action
Book a personalised demo and we'll walk through this module using workflows that match your business.