Export invoices in Finsys ERP – When, it is better “not to” develop / purchase in ERP ?
Usually Customised “Export Invoices” are excluded in most ERP Software orders by Finsys ERP Team.
so, if you want to start export invoices now
Query in your mind ? When to start ? Useful or not useful ?
Export Invoices in ERP
What are the Advantages… ?
You may say … Looks Great. Ok. Feels Big, OK, … anything else ?
What are the Disadvantages ? Did you think about it ?
You must read this before you go ahead
Suitability :
This is suitable if your number of Export invoices is less than 10 per month.
What to do ?
Make Invoice in Finsys as a normal Domestic invoice in INR only in 4F type. That is made for this purpose. This facility is already available to all.
There is no GST on this invoice. Since this is an Export.
This Indian Rupee Invoice in Finsys ERP, is in same series as domestic, and
Make US Dollar invoice for Customers and the Indian Customs in Excel.
Benefit for Customer :
Benefit for Customer can be thought of as:
No extra cost,
no special training,
GST return as usual,
Sale register as usual.
IRN as usual.
E Way bill as usual.
No time on any extra procedure.
Benefit for Finsys :
No extra cost of Development, no extra cost of customization, no extra cost of implementation, no extra cost of support. No extra work and no extra Training on Forex Accounting. Everything continues as normal invoices.
Hence it is “Free of cost” and beneficial in this form for both
So, this is suitable and beneficial if the total number of Export orders is less than 10 per month.
Suitability :
If your Export invoices are 10 or more, per month, then you can consider. And if they are more than 20 per month, then you should surely have this additional facility.
Details as under :
Scope of Work in Option 2:
This module includes following features only.
Customer Export Invoice in Foreign Currency, ( ex. USD, Euro, etc )
Customer Export Invoice in Indian Rupees, ( for Indian GST and Customs purposes )
Packing List, with box wise Details
Pending Sales order Report in Foreign currency
Facility of separate Customs Filing Invoice
Facility of Export Proforma Invoice
Facility of separate series… means separate series for domestic and separate for exports.
Mention of LUT number on the Export invoices
Linked to E-invoice IRN Portal, if you already have the Webtel IRN linkage facility
Linked to E-way bill Portal, if you already have the Webtel E-waybill linkage facility
Onward linkage to Forex Accounting system , given in next para.
Formats : There will be one single format of invoices and packing list, across all customers and all countries.
Benefit for Customer :
Special training,
Saves time if your volume is big
Saves mistakes possibility, if volume is big.
Benefits of Forex Accounting
Locations and Companies
Companies at which ERP is to be implemented – same as existing
Locations :
same as existing
Exceptions
All customers / all countries, all exports, same one single format.
No other document expected.
Action points
- Implement this in your factory, when you reach the status point as above
- Subscribe to our Youtube channel,
- Yes, Technology helps
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