INVOICE GATE OUT FEATURE: FINSYS’S OWN DIGI YATRA

September 29, 2024 Sreoshee

Invoice Gate Out Feature in Finsys ERP

Just like we get the services of ‘Digi Yatra’ on an airport,

Is it possible to get the same facility for the material in our factory ?

As ‘Digi Yatra’ uses the face of the passenger for checking into the flight with ease,

Finsys ERP uses the ‘Invoice Gate Out’ feature that generates a ‘QR Code’ on the sale invoice.

Now this ‘QR code’ stores information about the quantity of material sold, the rate , at what time the material is moving out of the factory etc.

Just like ‘Digi Yatra’ the ‘Invoice Gate Out’ feature uses a ‘QR Code’

so as to efficiently record accurate details regarding the material moving out of the factory with utmost convenience.

Click on the link to know more..

CSR TAX STARTS at just Rs 5 Cr profit

September 27, 2024 Sreoshee

WHAT IS CSR?

WHY DO WE NEED CSR ?

WHEN ARE WE ELEGIBLE FOR CSR?

CORPORATE SOCIAL RESPONSIBILITY [CSR] is a compliance requirement under section 135 of the Companies Act 2013. It refers to the voluntary contributions made by companies with an objective of improving the society and environmental conditions.

Now,

The provisions of CSR applies to every company that meets any of the following conditions in the preceding financial year

1. Net worth of more than Rs.500 crore

2. Turnover of more than Rs.1000 crore

3. Net profit of more than Rs.5 crore

If you have prepared the Balance Sheet for last year. and if the profits earned during the last year , whether under any head like Capital Gains, or from business or profession , then

you ‘ARE ELIGIBLE’

for contributing to CSR , at least –

2% of the net profits made during the immediately preceding three financial years.

(Note : If a company has been incorporated for a period of less than 3 years then they have to contribute 2% of its net profits made during the immediately preceding financial years .)

The penalty of not complying with the provisions of CSR are –

The Company : Lower of the following –

Fine up to Rs. 1 crore

or

2 X The amount the company was required to transfer to the CSR fund
The Officers in Default :

Lower of the following –

Fine up to Rs. 2 lakh

or

1/10th of the amount the company was required to transfer to the CSR fund.

So, do pay CSR on time..

Sales Schedule Vs Actual Dispatch Reports

September 23, 2024 Sreoshee

Why do we need a Sales Schedule & Actual Dispatch Report ?

To make ‘Sale & Dispatch ‘ target oriented –

You have to make a ‘Dispatch Schedule’…

This ‘Dispatch Schedule’ states the we know –

What item will be dispatched ? and,
When such item will be dispatched ?

It is a common practice by many firms to set a ‘Dispatch Schedule’ on the first or last day of each month.

Now with the help of this schedule , the firm knows what item to deliver to the customer and when . This in turn helps in timely delivery of goods to the customers .

Our Finsys ERP has a feature of generating a ‘Dispatch Schedule Report’ that shows an accurate data of when to produce an item, when to deliver the same and what rating has been given by the customer.