Congratulations and thank you for choosing Runtime Workspace – Online GST Accounting Software with business automation tools like payroll, sales, service and marketing.
Your business just got more powerful!
In this article we will take you through the basics of online GST accounting in Runtime Workspace to make you familiar with the features and get things done quickly and correctly.
Runtime Workspace is a suite of 5 applications as follows:
- Accounting: A feature rich accounting solution with inventory management and compatible with GST laws. Quickly generate GST returns with one click.
- Sales: Manage your sales leads, timely follow-up with customers and drive higher sales conversion.
- Support: Manage customer queries and complaints, provide timely and accurate resolution to customers and increase repeat sales by achieving higher customer retention.
- Marketing: Send email and sms alerts to hundreds of customers in one click. Keep your customers updated about new product features, or run a marketing campaign to attract new customers.
- Payroll: Manage payroll of employees in an easy to use interface. Statutory compliance with ESI, PF, Income Tax and more.
All the above applications are part of your subscription and you do not need to pay anything additional to use them. The usages charges and limits are prescribed on our pricing page.
Unlike other online GST accounting software, Runtime Workspace provides and easy to use interface that needs no special training to get used to. Special care has been taken to use classic voucher entry layout with debit/credit entries so that you do not get lost with the fancy terms and features.
To access accounting application, simply click on the ‘Accounting’ icon from home page or go to ‘Apps’ menu and click on ‘Accounting’. You will be presented with Accounting Dashboard as shown below:
The dashboard let’s you keep track of your business status including profits, payables, receivables, stock and cash/bank balances. You can also view an income and expense trend for current financial year.
To create a Journal entry, simply go to ‘Vouchers’ Menu and click on ‘New Voucher Entry’
Below is the voucher entry page. Each section is explained below.
- Voucher Type Selection: Select the type of entry you need to make by clicking on the respective buttons for Sale, Purchase, Receipt, Payment & Journal. Recurrence lets you create recurring vouchers. Let’s take an example of office rent. Suppose an entry is required every month for rent accrual where you debit Office Rent and Credit Landlord account. You can create this entry as a recurring one and specify monthly recurrence. With this in place, the system will automatically create an JV every month without any manual intervention.
- Add Entry Section: This is where you add ledger entries to a voucher. Simply select a ledger from the list by typing few characters of the ledger name. Enter amount, select tax group (if applicable), enter line description (narration) and click on ‘Add’ to add the line to voucher. In case you are making a sales entry, the system will ask you to select product, rate and quantity details to add an entry.
- List of entries: The lines that you add to the voucher will appear here as Debit and Credit.
- Narration: Enter narration of the voucher. This is an optional field.
- File Attachment: To attach one or more files to a voucher, click on ‘Browse’ and select files from your computer.
- Finally, once all details are filled in, click on ‘Save’ to save the voucher. Clicking on ‘Save and Add New’ will save the current voucher and if save action is successfully completed, it will reset the page to enter new voucher.
This may look like a long list, but making an voucher entry takes less than 20 seconds! Here are a few tips to make you even faster with voucher entries.
- To switch between ‘Debit’ and ‘Credit’, simply press ‘Alt+C’
- To change debit/credit side of an entry after adding it to voucher, click on ‘Dr.’ or ‘Cr.’ button in front of the entry itself.
- You can use ‘Tab’ or ‘Enter’ key to move from one field to another in succession.
Other useful links:
- Login to Runtime Workspace – https://www.runtimeindia.com/app/
- Contact Information- https://www.runtimeindia.com/contact-us
- GST Portal – https://gst.gov.in
We hope this guide was helpful to get you started. In case you need any assistance with any of the feature, simply call us or write to us.