ICAI to provide Free Accounting Software for Chartered Accountants and CA Firms

The Institute of Chartered Accountants of India ( ICAI ) has joined an association with host books to provide Free Accounting Software for Chartered Accountants and CA Firms.

Gurgaon based FinTech Company HostBooks has signed a Memorandum of Understanding (MoU) with ICAI, the national professional accounting body to encourage the use of technology and automation among chartered accountants, which will help them increase their efficiency and productivity in practice.

The Committee for Capacity Building of Members in Practice (CCBMP) of the ICAI has arranged Cloud-based ‘All-in-One accounting’ software i.e. one Stop Solution for all Accounting, Compliance, Return Preparation and Filing needs of Chartered Accountants in Practice & CA Firms. The aforesaid software is free of cost for 3 years to CA Practitioners & Firms.

‘All-in-One accounting’ software will be offering free of cost three users all-in-one accounting & compliance solutions to ICAI members for three years, bundled with other benefits. Furthermore, the company will provide dedicated support and service center for ICAI members.

Features of All-in-One Automated Accounting & Compliance Solution

‘All-in-One accounting’ software is a single-sign-on application to manage all your Accounting & Compliance needs with:

• Accounting, GST, TDS, E-way Bill, Income Tax –one-stop solution
• Mobile solution on the go any time anywhere
• Auto data back-up, Free Cloud Storage
• Bank-grade security – 128-bit SSL.
• Centralized user dashboard and Role-based access control

Accounting Software Features

• User-Friendly Dashboard & inbuilt Document Management System
• Invoice to Cash Process & Procure to Pay Process
• AI-Based Bank Reconciliations, Inventory Valuation & Fixed Asset Management
• Seamless Integration with Bank Account

GST Software & E-way Bill

• Seamless GST Return Filing & Import of GSTR-2A and reconciliation
• Tally Integration & Auto-OTP Verification
• Integrated with E-Way Bill & Quick Data Import
• Multi GSTIN Management & Multi-currency
• LUT Enabled
• Seamless E-Way Bill Generation & Real-time Integration

TDS Software

• Seamless filing of Forms 24Q, 26Q 27Q, 27EQ, 27A & ITNS 281
• Automatic Data Validation & Auto Calculation of TDS/TCS
• OLTAS Challan Validation & Real-time Integration with TRACES
• Easy Data Import/Export

Income Tax Software

• Hassle-free login to the e-filing website & Computation of Total Income, Tax Payable, Computation of Adv. & Self-Assessment Tax.
• The download of ITR-V, Acknowledgement, ITR & ITR upload and e-verification
• Auto mapping of Income from one head to another head & Auto set-off of HP loss as per u/s 71(3A).

Furthermore, the company will provide dedicated support and service center for ICAI members after the installation of the integrated accounting and compliance software. To ease the transition process, the accounting professionals will also get a dedicated team for implementation from time to time to provide training.