Effortless Reconciliation for business travel data
About FlightLedger
A comprehensive, end to end reconciliation service that aligns travel agent statements (Purchase Register) with GSTR2B (Input Tax Register) to ensure accurate input tax credit claims for airline service procurement. By optimizing business travel expenses, this process enhances overall profitability.
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By streamlining the reconciliation process, businesses can maximize their eligible ITC claims, reduce financial leakages, and enhance overall profitability. This approach not only improves tax efficiency but also ensures that travel expenditures contribute effectively to the company’s bottom line.
The Problem Matrix
Fragmented Documentation Flow
The invoicing process is fragmented, with airlines following different timelines and methods for issuing invoices. This inconsistency has made it increasingly difficult to consolidate invoices effectively, complicating accurate matching and reconciliation over time.
Differentiated Taxable Value of Service
The invoice flow is fragmented, with airlines following different timelines and issuance methods. This inconsistency makes it increasingly challenging to collect, consolidate, and reconcile invoices in a timely manner.
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Managing Multiple Invoices
Managing multiple invoices from two primary suppliers, ie, Travel Management Companies and airlines can be overwhelming. Consolidating these invoices into a single, cohesive transaction stream is complex, making it challenging to ensure that no eligible credit is overlooked.
TraCarta's Signature Solution
A three steps approach to airline GST reconciliation ensures a seamless and hassle free experience for our clients.
The first step in the reconciliation process is to collect accurate and complete documentation such as invoices, credit notes, and supporting records from various airlines for all transactions. Since airlines follow different invoicing practices and timelines, ensuring consistency and accuracy at this stage is crucial for reliable reconciliation and accurate ITC claims.
Documentation Management
Data Extraction Management
The next step involves extracting key data points from airline invoices, such as invoice numbers, dates, GSTINs, fare amounts, and tax components, and mapping them to corresponding transaction entries in internal records. This ensures alignment between airline invoices and internal records, facilitating accurate reconciliation and validation of input tax credit.
Reconciliation Management
The final step is to reconcile the extracted and mapped data with the GSTR2B return, ensuring all transactions are accurately reflected and eligible input tax credits are captured. Any discrepancies are identified and addressed by reviewing internal records or coordinating with the supplier, helping to ensure GST compliance and maximize ITC claims.
TraCarta's Process Excellence
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TraCarta initiates the reconciliation process by collecting transactional data from the mandated travel agent and corresponding documentation from the airlines. It ensures complete coverage of all transactions, with any missing documentation flagged and explained in the audit report.
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Using its proprietary AirX© machine learning technology, TraCarta extracts key data points from each transaction to enable thorough end to end reconciliation. If any airline documents—like invoices or credit notes—are missing, TraCarta proactively retrieves them through automated and manual processes.
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The final output is a detailed report containing all relevant documentation and data, supporting accurate and compliant GST claims across stakeholders.
TraCarta Deliverable Matrix
Airline Documentation Set
A complete set of airline issued invoices and credit notes, essential for accurate reconciliation, ITC validation, and compliance support.
TraCarta GST Report
The industry's first two way reconciliation between airline documentation and GSTR2B to ensure a thorough and accurate completion rate.
GST Audit Report
A comprehensive final audit report highlights transactions missing GST details and identifies any additional transactions reported in the GSTR2B.
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TraCarta's Pricing Offer
Pricing for Every Business
TraCarta’s Pricing Matrix offers flexible, transparent pricing tailored to your needs, ensuring maximum value with cost-effective solutions for both transactional and subscription-based services, without compromising service quality.
Connect With Us
Reach out to discuss your needs or discover more about our tailored solutions.