Overview:

This comprehensive course is designed to equip you with the essential skills to effectively use Miracle for all your business accounting needs, with a special focus on GST compliance.

In this course, we will explore key functionalities of Miracle with a focus on GST-related transactions. The following topics will be covered:

Session 1: Fundamentals of Miracle

• Gain a solid understanding of Miracle’s interface and basic functionalities.
• Learn to create and manage ledgers and groups within the Miracle environment.
• Discover essential shortcuts and keyboard combinations for efficient navigation.
• Understand the steps involved in opening and navigating reports within Miracle.

Session 2: Initial Setup & Inventory

• Learn how to add opening balances to your accounts.
• Master the process of creating and managing product information within the inventory module.

Session 3: Purchase & Purchase Return Transactions

• Understand the process of recording purchase transactions accurately in Miracle.
• Learn to handle purchase returns effectively using debit notes.

Session 4: Sales & Sales Return Transactions

• Learn to record sales transactions accurately and efficiently in Miracle.
• Understand the process of handling sales returns using credit notes.

Session 5: GST on Expenses & Purchase of Services

• Gain a thorough understanding of GST implications on purchases of services.
• Learn to accurately record GST expenses and purchase of services in Miracle.
• Master the handling of debit notes without stock for GST purposes.

Session 6: Cash & Bank Transactions

• Learn to record cash and bank transactions accurately, including payments and receipts.
• Understand the concept and recording of contra entries.

Session 7: Journal Entries & GST Utilization

• Learn to record various journal entries accurately in Miracle.
• Understand the process of utilizing input tax credit (ITC) effectively.

Session 8: Answers

• This section includes detailed guidance on how the balance sheet will appear, incorporating data from all the chapter modules covered earlier. By the end of this course, you will have a strong understanding of Miracle and its GST functionalities, enabling you to manage your business finances efficiently and ensure GST compliance.