Have you opened new Fin Year 2018-19 in Finsys ERP ?

Have you opened new Fin Year 2018-19 in Finsys ERP ?

Have you opened new Fin Year 2018-19 in Finsys ERP ?

30th March 2018
Dear Finsys Patron,

1st April 2018 brings a Change in the Financial year in ERP Softwares too
We at Finsys seek to make your transition to Financial year 2018-19 smooth and welcome.

Kindly read the suggestions below, and also the circulate the same to your team members.

  1. Create New Year
    1. The new year is opened only by the Administrator. This is a single click, 5 second exercise. The powerpoint, on how to do this is attached
  2. Accounts op balances
    1. Accounts Opening Balances to be transferred to the new year.
    2. This is also automatic. Powerpoint is attached.
    3. Yes, we understand that your accounts dept may continue putting entries in FY 17-18 for time being. And your admin can press the update button once a day / once a week to update.
  3. Item op balances
    1. Item Opening Balances to be transferred to the new year.
    2. This is also automatic.
    3. Powerpoint is attached.
    4. Yes, we understand that your stores dept may continue putting entries in FY 17-18 for time being. And your admin can press the update button once a day / once a week to update.
  4. GST wise invoice number
    1. As per GST rules each GST registered dealer has to be having unique invoice numbers every year.
    2. Usually all companies restart from 00001 on each 1st April 2018.
    3. Legally continuing the invoice number from the last number used in last year is also permitted, since it is still “unique”. Check with your consultant. And contact Finsys team for reconfiguration, if so required
  5. Two factories in same state
    1. In this case both factories will have same GSTIN
    2. And they will file a single GST return
    3. And as per GST law you cannot have same invoice number twice
    4. In this case the standard Finsys policy is numeric Prefix ( first digit ).
    5. Example : 4 plants in Haryana, will be done as follows
      1. Gurgaon branch code is 00, so invoice numbers are 000001 onwards
      2. Faridabad branch code is 01, so invoice numbers are 100001 onwards
      3. Bawal factory branch code is 02 so invoice numbers are 200001++
      4. Rohtak factory branch code is 03 so invoice numbers are 300001++
    6. Kindly see that the above is duly configured in your company
  6. Eway bills from 1-4-2018
    1. Separate Powerpoint being sent for this today within next few hours.
    2. That is also very important, pls see that.

Regards
Finsys ERP Team

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