YouTube:- Suggestion – Production Job work … Convert to Purchase and Sales – TDS, GST , ITC-04. Some Ideas

All posts by Nalini Bhatia

YouTube:- Suggestion – Production Job work … Convert to Purchase and Sales – TDS, GST , ITC-04. Some Ideas

This Suggestion is going to help all of you
If you get anything manufactured outside, from your job workers
or
if you yourself manufacture something from your customer and the customer himself provides the raw material to you… this called customer job work
then
this video is about the suggestion…. to convert this into a Purchase and Sales Relationship

It will reduce a lot of hassle of Reconciliations
Hassle of ITC-04 returns
A level of Hassle during the next GST Audits
and so on

Think about it

Is Outsourcing Beneficial to you? Why? Consider Outsourcing ERP, Taxation and Accounting services

Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company’s own employees and staff.

MAKING BUSINESS BETTER.

Outsourcing is a one stop solution to the operational issues. Here are the 5 reasons why it is important for your business:

1. Helps you to increase your focus on your core services: It helps you to focus on your main goal by outsourcing you non core business activities such as accounting and ERP services.

2. Reducing and controlling operating costs: Cost reduction is one of the main motives of any company and most important reason why a company outsource. It gives you access to international quality at much lower price

3. Gaining access to the best talent: Through outsourcing you get the people with superior skills without the hiring process.

. Improved quality of service: A company’s service is what makes it stand apart in the market. And outsourcing gives you that improved quality of service. For example, who is better than a CA to do your GST compliances.

5. Technological advantages: In this era of everyday changing technology, you can expect from an outsourcing company to give you the best technologically advanced solutions.

And all these services are brought to you Finsys via our associates, MAKING BUSINESS BETTER.

FG Production Entry in Android Phone through Finsys ERP

Can Production staff do production entry through Android Phone? They definitely can, with the help of latest feature of Finsys ERP.

This can be done with the help of following steps:

i. Go to Finsys Android App

ii. Login with your id and password

iii. Go to Production Module and then FG Production Entry

iv. Fill the required information, click “add production item” save it and exit.

v. Now select FG quality approval option under Production Module

vi. It will show us the pending entry vii. Here you can update the checked quantity and save it. viii. Print the barcode sticker.

see the Youtube Video for the details

Finsys at your service

 

Youtube Video – Continuous Stock Taking and Daily Physical Verification in Finsys | Part 2

Finsys Team Released New Youtube Video

Continuous Stock Taking and Daily Physical Verification in Finsys | Part 2

In the previous video, we discussed the importance of Continuous Stock Taking which helps us to eliminate many risks which happen due to wrong data entry, not issuing entries, vendor’s mistake, etc.

Advantages of Continuous stock Taking:

Accurate Accounting

Prevents Unnecessary Losses and Wastages

Improved Stock Management

In-house experts can be used

No Need to Shut down Operations

Eliminate Delays in Production/Delivery

In this video we will discuss how Continuous Stock Taking is done in Finsys ERP.
Steps:-

Go to the inventory module

Select Reel Physical

System asks for the group you want to check

Enter the group and category you want to check

Enter the location

Select a Gradeup/Subgroup

ERP shows you the required information such as reel wise movement, location and weight.

It’s that easy with the help of Finsys. This can be done by the existing people in the organisation or there can be two dedicated person for this job.

Youtube Video Link :- https://www.youtube.com/watch?v=2NA92a5vOic

Youtube Video – Continuous Stock Taking and Daily Physical Verification | Part 1

Youtube Video – Weekly Stock taking, Daily Physical verification of some items in stock


Continuous Stock Taking and Daily Physical Verification | Part 1

This video tells you about the importance of Physical Verification of your raw material on a daily basis, with the example of corrugation box industry.


According to Oxford Reference “A system of stocktaking designed to ensure that all the items of stock are physically counted and reconciled with the accounting records shown on the bin cards and the stock ledger within a specified period. For example, a stocktaking team may be working continuously so that all items of stock are checked four times a year, when adjustments are made to the accounting records to adjust them to the physical stock.”


Advantages of Continuous Stock Taking:

Accurate Accounting

Prevents Unnecessary Losses and Wastages

Improved Stock Management

In-house experts can be used

No Need to Shut down Operations

Eliminate Delays in Production/Delivery

Now why is Physical Verification Important?

For Reliability

For correct Profit and Loss Account

For Bank Stock Report # For Correct Drawing Power

MRP : Material Requirement Planning

To know correct closing quantity

and many more..

But does Physical Verification mean redo from the start? NO!!

But that happens so.. and it is not advantageous for anyone.

There could be many reasons for this difference in ERP records vs Actual Records such as Wrong opening reel no., missed some reels in opening, wrong kg in opening, wrong supplier reel no. in opening, barcode not put back on the reel, etc.

So in order to prevent such situations Continuous Stock Taking is essential to prevent wastage of resources and this can be done through a good ERP. In next video we will show you how it’s done in Finsys ERP.