M.S.Yatnatti Editor Property Politics
“GNUKHATA” IS AN OPEN SOURCE ACCOUNTING & INVENTORY MANAGEMENT SOFTWARE GST COMPLIANT THAT AUTOMATES ACCOUNTING FOR BUSINESSES
by Admin User - Wednesday, 12 February 2020, 12:46 PM
 

By : M.S.Yatnatti: Editor and Video Journalist Bengaluru : Kerala's school education system has fully migrated to Free and Open Source software ( FOSS), GNUKhata ends use of Tally a Commercial software in plus Two commerce education in Kerala. Even in many small towns, people use Tally and they pay huge sums for it. I'm glad that there is an open source alternative to it. Apart from being a great movement for people's digital freedom and rights, free software is a great source of earning. Lot of people come to free software due to it's low cost to start with and then tend to like the features most of the time. Then they need customization with few features specifically for their needs. Many corporate pay for free software support and also for specific modifications which they need for running their business. They see the transparency and the low Total Ownership Cost (TOC) as a benefit. GNUKhata is being used by many organizations now. In fact this project started on the very demand of many companies and a lot of accountants who found that “certain software is exploiting them”. GNU Khata is an accounting tool. Or shall I say a collection of accounting tools? It is like the Evernote of economy management. It is so versatile that it can be used from personal Finance management to large scale business management, from store inventory management to corporate tax works.With Goods and Service Tax (GST) since it was implemented, there have been various measures by companies to make filing easy for MSMEs by several accounting software’s . GNUKhata is Built by the technology team at Digital Freedom Foundation, is an open source accounting and inventory management software. The product recently launched its new version making it more GST-friendly with user experience enhancements especially for non-accountants like shopkeepers, dispensaries, small and wholesale traders. GNUKhata is a free and flexible software for accounting and inventory management that supports a wide range of applications in every field of economic activity, including factory or farm-based production, a point of sales accounting & inventory and work in the service sector. While it serves such traditional accounting requirements, it is best-suited for the emerging sectors of the economy who are required to keep audited accounts, such as self-help groups, craft producers, and micro-finance groups. GNUKhata is highly customizable, given its open source nature. It can be easily transformed into Indian languages, largely unreached by existing software solutions. The project is currently funded by International Center for FOSS, a Kerala government undertaking and is now adopted by AccionLabs.New version makes GST-compliance easy: Small to medium enterprises from computer, stationery shops or cloth stores, small retailers, schools, small rural or semi-urban shops, service sector industry of micro to medium scale such as IT startups and NGOs can potentially use this software.The version 5 has a lot of new additions to the already existing modules. These new additions include sales and purchase order, Credit and Debit note, Rejection note, and a revamped invoice module, all GST ready. In fact, the Delivery note is also GST ready. “We also have the sales and purchase register revamped for new updates to GST. After a long discussion with our existing customer base, we decided to export all reports to xlsx instead of the previous ODS format this makes it easy to send data to other popular accounting software. Note that data provided in spreadsheets from other programs can also be imported in GNUKhata. We have also revamped the Profit and Loss statement and made it more auditor friendly. Lastly, we have made the import from software like Tally even easier,” informs KrishnaKant Mane, Founder of GNUKhata. Krishnakant Mane, fondly called KK, is blind, but that didn’t stop him from programming. He created and maintains the GNUKhata project, a free and open source accounting software. He and his team are passionate about open source wanted to give the small & medium businesses an alternative to the proprietary software to make accounting simple and easy at lowest or no cost at all.