Focus Softnet launches cloud-based accounting software – FocusLyte

Focus Softnet has developed and launched its new accounting software - FocusLyte. It is a cloud-based system that assists in handling invoices and company payments. FocusLyte is primarily designed for small and medium enterprises; however, it is equally efficient for enterprises with complex financial accounting processes. The system is popular among users due to its ease of use and extensive reporting capabilities.

As a GST Suvidha Provider impanelledby GSTN, Focus Softnet Private Limited identified the necessity of technology in the GST regime. FocusLyte is ready-to-use GST-compliant billing, accounting, and inventory software, thus adding a big feather to the already existing product portfolio. The software can be used by all kinds of businesses, including distributors, traders, retailers, SMEs, etc. In agreement with GSTN, Focus Softnet extends registration for FocusLyte to taxpayers with an annual turnover of less than INR 1.5 crore, at no cost, for two years. FocusLyte accounting software contains data fields built in to display GST rates and tax amounts for CGST, SGST, and IGST. Invoicing and e-invoicing also became easier as users could find the tax rates for various goods and services, and automatically compute the GST amount for each bill. Businesses using it could determine tax amounts precisely and prevent mistakes in tax filing.

On this occasion, Ali Hyder, CEO of Focus Softnet, said, “The Indian tax system is highly complex and difficult to implement. Hence, startups with limited resources find it challenging to maintain tax compliance and are often vulnerable to tax default. With FocusLyte, these startups can be GST compliant, thus avoiding tax defaults. Our plans include extending FocusLyte services on a mobile application and POS billing machines. Due to FocusLyte, SMEs benefit as they get to maintain their compliances with ease, and the government benefits as it has fewer SMEs as defaulters."

Numerous advantages set FocusLyte apart from other software. Some include competitive pricing, a user-friendly interface, and flexible and customizable GST-compliant tools. There are also no restrictions on the number of masters within this software or the volume of transactions. FocusLyte comes with a free CA login that users can create for audit purposes. It is also easily scalable to integrate with Focus Softnet's in-house GSP application Services as customers’ GST compliance responsibility increases, like generating E-Invoices, EWay Bills Online Returns, etc.

The 30 years old, well-established Hyderabad-based company focuses on distributing its latest offering, FocusLyte, to its current network of clients while roping in new customers as well. The company has a global presence in 17 countries directly and through its robust partner network with 27 offices and 1.2 million registered users globally.