Do’s and don’t for the Scrap Generation

Entry in Finsys ERP ( or any ERP of the World ) …

Things to Remember... things to cross check…. Important Tip. Important Guidelines…. use any Software of the world. even in manual production and PPC….

What to do
Pros
Cons
Important focus

Income tax
GST
TDS
TCS
ERP
All points

Ideally, move it properly
Document sign it
Printout it
Permanent audit

GST says…manufacturing process, logically sell it
Since GST Department wants GST on that

Income tax needs TCS on Scrap sale

Internal area

Is Raw Material going into Scrap ?
Master batch ?
Motors… going into Scrap ?
Sold excess or short ?

If should have been 10 ton…sold 6 ton… how ?
If should have been 10 ton… but selling 15 Ton…. big loss of
Raw Material becoming rejection

3 people to sign why this rejection happened

From x to y

Printed boards lost, why
Root cause ?
Making cooler, AC, paint..anything… why lost, why scrap ?
Offer Qnty out from WIP and offer Qnty inward of scrap

If you dont seek
You might face big losses, if these precautions are not taken

Like cash ka hisaab
Whether production RM or other Material

https://youtu.be/P3AHmQvvqA4

See the Detailed discussion and Suggested SOP— for Scrap Generation in Finsys ERP —- in this Youtube Video link below

With the Do’s and Don’ts…. RM going into Scrap ?

Youtube link for Scrap ? How to control how much Raw material ….. sold off at Scrap in your company ? Safety steps

See the Youtube video above, to see, How to control how much is being sold off at Scrap in your company ? How to cross Check… Short is a Loss, Excess is Bigger LOSS

Contact us

Physical Verification of Stock

As its the time of 3rd Quarter ending the requirement for physical verification of stock gets in.

The physical verification of a stock itself is a big deal as if you have not labelled your products properly then you have to make note of each and every item in rough register and in excel too for comparisons with vlookups.

If you use Finsys ERP’s QR code scanning base system then you can easily and fastly do the physical stock tacking by just scanning the QR code in company.

Don’t make this only a year end activity try to do this on regular basis like once in a week,15 days or atleast once in a month.

You should stay focused and aware about your stock.

You can make your physical verification of stock upto the mark by using Finsys ERP’s QR code scanning base system.

Listen the YouTube video below made by the Co-Founder of Finsys Mr. Puneet Gupta for more clarity and you can stay in touch just by following and subscribing.

Read more content like this-

https://finsys.co.in/batch-traceablilty-report

E Circular from I am SME of India

dated 23-12-2024, for the GST Council meeting dt 21-12-24

Some Recommendations of the 55th Meeting of the GST Council ( As relevant to our IamSMEof India members)

ECircular -55th GST Council Meeting dt 21-12-2024  (click here)

Click the link above to see / Download the Circular

Published for the internal usage for the members and clients of M/s.  Finsys Infotech Limited and M/s. MLG Associates

Are your Customers not paying in time ?

How to know “how much money” is coming ? and when?

How to manage the customer outstanding ?

See this Youtube Short for views on Bills Due for Collection?

Collection will be smoother

Finsys has a special report for you ,…. in Prime Reports in Web Finsys

Bills Due for Collection Report

Finsys ERP —Prime Reports—Accounts Module

 It shows the bill which gonna be due for collection in near future so that we can follow up accordingly and get the payments timely.

Why do you need this ?

1️⃣

Timely Payment collection

2️⃣

Bank limits pressure reduce

3️⃣

Prevent from Interest Loss

4️⃣

Easy to make collection Plans

5️⃣

Targets can be set for collection team.

Use this Report to maintain your Cash Flow at healthy Level.

Conclusion

You can even check if the bill gonna due in 4 days or a week or in 30 days/40 days. Better Cash Flow will leads in smooth running of Business. What else you need? Just give this report a short and enjoy your planned, efficient and effective work.

Listen the YouTube video below made by the Co-Founder of Finsys Mr. Puneet Gupta for more clarity and you can stay in touch just by following and subscribing.

for Any Queries .. Contact us at Contact-us page

our other site : www.finsys.biz,

Are you tired of the customers whose Payment Advices always gets delayed and this creates trouble in your Ageing Reports?

Finsys knows your problems and always get to you with solutions for your different problems.

We know there are always some customers who doesn’t gave us the Payment Advices on time and this creates issues in our Ageing Reports.

What’s the solution for this ?

Finsys has already introduced the solution for this called Customer FIFO Ageing Report.

The systems are intelligent enough to knock off bills on the oldest first principle automatically.

How this Benefits you ?

You can see tentative figures of the bills which are not knocked off even on FIFO basis or whose Ageing is increased.

This helps you to see your Ageing Reports Correctly.

Listen the video below made by The Co-Founder of Finsys Mr. Puneet Gupta for more clarity and you can stay in touch just by following and subscribing.