Way to Faster Payment Advice & Payment Voucher

Knock off different payment vouchers by multi bill -rcpt/pymt option.

How this will benefit you?

You can select each rows in less than a sec 

You can see cheque amount

TDS already deducted

If credit/debit note with the party, already entered and adjusted

Advance payments also gets adjusted

This will lead to lesser mistakes

Just click ok and you are done with your cheque

This is time friendly way instead of the tedious business of doing payment of 5 lacs and then knock it off bill wise.

Enjoy your fast Accounting!!

Item Master Tips!!

Always check once in a month which new item codes and party codes are opened and under which heads are opened in last month.

You will always found some are duplicates, some are entered under wrong sub-head or wrong head, TDS and GST rates are wrong.

This is the small way to self audit.

You have to taken to this as this will lead to lesser mistakes and more accountability.

Are you making Purchase Indent/Requisition?

No….then know why you should-

Accountability- What is the need of the material?..What is the logic behind the order made?

Indent is needed for production related item, automatic metal requirement planning -PR, re-order based item-minimum level based items

Just a click can give you automatic Indent on all those-consumables,oils,gasses and diesel.

This called Minimum level Based Indent

You can also have manual indent on items other than the above

Important

 Make Indent in finsys.

Stages of Indent 

1.Make Indent

2.Check Indent

3.Approve Indent

Try to hands on all the stages!! 

Benefits of Integrated ERP Software

You can control, manage and regulate all the operations from just one software.

Saves man power by not doing data entry in different softwares.This will lead to utilize man power where it should be needed and the probability of mistakes also reduces.

That’s why always opt for the Integrated ERP Softwares for your production and accounts module like Finsys ERP.

If you want to increase your manpower not in quantity but in quality the only way is to provide them with good tools like Finsys ERP which has long proven track record of running successfully in over 800 factories across India.

Why You Must Check Your Creditor Ageing Report Regularly

While most businesses obsess over their Debtor Ageing (who owes them money), they often neglect the Creditor Ageing Report. However, managing your payables is just as critical for maintaining a healthy business reputation and staying compliant with the law.

In a recent video, Puneet Kumar Gupta from Finsys ERP explains why this report is a “prime report” in any accounting system and how it can save your company from unnecessary penalties.

The Strategic Importance of Tracking Payables

A Creditor Ageing Report isn’t just a list of bills; it is a management tool. Here is why you should review it weekly:

• Payment Planning: Identify exactly which payments are due today and which are coming due next week. This helps you manage your bank balance effectively.

• Tracking Advances: Often, we pay a vendor in advance, but the bill never arrives. If these aren’t “knocked off” against an invoice, your reports will show incorrect debit and credit balances, creating a mess in your audits.

• Identifying Unsettled Bills: It helps you spot very old, disputed, or forgotten bills that have remained unsettled for months.

Best Practices for Financial Control

To get the most out of your accounting data, follow these two gold standards:

1. Bill-by-Bill Accounting

This is the single best method to maintain accuracy. Instead of making “on-account” payments, every payment should be tagged to a specific invoice. This keeps your ageing reports clean and prevents confusion during reconciliation.

2. Digital Automation

Using a robust system like Finsys ERP allows you to generate these reports instantly. Automation ensures that you don’t have to manually calculate dates, reducing the risk of missing a deadline.

Conclusion

A clean Creditor Ageing Report leads to better vendor relationships and zero penalties. If you haven’t checked yours this week, now is the time to start.