Cygnet Infotech unveils updated Cygnet FACE with GST features

By Edil Corneille

Ahmedabad-based Cygnet Infotech has introduced the latest version of its accounting software – Cygnet FACE (Financial Accounting Comprehensive and Easy). First introduced in June 2019, Cygnet FACE is a holistic product which takes care of an organisation’s basic accounting functionalities as well as the Goods and Services Tax (GST) mandates and compliances, thereby allowing the enterprises to focus on their businesses without worrying about book-keeping requirements.

SMEs can migrate their existing data into FACE from inhouse ERPs and accounting software using import of master data functionality. Cygnet FACE has an exclusive feature called automated journal voucher which helps to record journal entries automatically to comply with GST challenges in various scenarios.

The latest version of the accounting software is integrated with E-Invoice and E-Way Bill for a hassle-free user experience. It supports multi-currency, multi-branch, and multi-company accounting.

Niraj Hutheesing, Founder & Managing Director, Cygnet Infotech said, “Cygnet Infotech is an established GST Suvidha Provider since 2016, and has developed comprehensive solutions for GST, E-way Bill, and other tax compliance solutions. Cygnet FACE will help SMEs get ready for E-invoicing and support their tax compliance needs. Our aim is to empower SMEs to comply with the government directives using right technologies. Small and medium enterprises are digitising to enhance their legacy systems and reduce their manual efforts.”

A technological advantage for SMEs: The software allows real-time communication between the Invoice Registration portal (IRP) and Cygnet FACE to send and receive E-invoices. After authentication, Cygnet FACE software can also receive the Invoice Reference Number (IRN) and Quick Response (QR) code details from the Invoice Registration Portal (IRP). The procedure allows tax professionals to print the QR code and IRN just like in the current invoicing process.

Taxpayers can migrate their master data from their legacy systems to Cygnet FACE. The FACE portal is also complete with an interactive customisable dashboard which allows companies to analyse their business with different reports like Rule 42, MIS, Payment Status, RCM, GST adjustment, etc.