Are you updated with your Closing Stock Report Daily ??

Closing Stock Report summary should be checked daily by MD Team/MIS Team/ MD right-hand Team/Store head/Purchase head.

Store Report should be daily taken out and work on these 6 summary Reports with copy of E-mail should be attached on top on daily basis-

1️⃣

Raw Material

2️⃣

Finished Goods

3️⃣

Customer rejection line with us

4️⃣

Vendor rejection line with us

5️⃣

Work in Progress as per ERP (70 series)

6️⃣

Work in Progress on the Floor (R.M series)

and

others if any…Important areas are – Consumer, Packaging Material

You should know the target of your ideal daily stock, if more or less comments should be written respectively.

Make this part of your daily working routine!!!

If accountants can use bar code ???

If we can pass purchase Voucher just by scanning MRR ???

and

what about 

Value ??? Quantity ??? Tax???

 All this is possible with your

FINSYS ERP !!!

Isn’t Vendor’s bill sufficient?

A big

As how can you know while checking it by yourself and Auditing  –

The concerned party has claimed ITC or not ? or if it all goes in expenses.

If claimed,hasn’t taken ITC C or S in I or…ITC I in C or S ?

If TDS has been deducted or not ?

Which section’s TDS has been deducted or wrongly deducted 2% TDS rather than 10% TDS or vice-versa ?

0.1% has been deducted or not ?

If you have printout it’s easy to check,understand and approve the Audit.

What benefits you can avail from Multi-Branch feature in Finsys?

You can get information of –

1.

Same item with different prices in different plants

2.

Same item’s stock in different plant.

3.

If you are making Indent in one plant, can see stock in different plant.

Very Basic yet super Beneficial feature !!

What should be included in Purchase Voucher bundle?

1. Purchase Voucher attached with the print of its MRR which is generated through your respective ERP software.

2. MRR should be signed by the person who is responsible for gate entry or storage.

3. Purchase Voucher should be stamped (Gate Entry stamp).

4. Following attachments should also be there –

NOTE

These all things protect you from GST and Income Tax problems as it gets complicated without these to prove in reconciliation of GSTR 2A-2B and case assessments that you have received those particular items.