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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.
This is applicable only in India. Finsys Customers outside India, kindly ignore this information.
Turnover Criterion
Was your Turnover in FY 2019-20 more than Rs 10 Crores p.a. ?
If yes, then
This legal change is important for you
As per Budget 2020 / Finance Act 2020,
Section 206C (1H), you must charge TCS on the Sale value of goods including GST.
This is applicable on Sale invoices to those customers,
to whom you sell goods worth more than Rs 50 lakhs a year.
Rate of TCS
with PAN
TCS Rate will be 0.075% if PAN is available,
without PAN
TCS Rate will be 0.75%, if customer does not give a PAN
Effective Date ?
Currently : 1st October 2020
Corona effect ? : Date might be postponed further. But chances are remote, since already 6 additional months given to all to get ready
Finsys Preparation
We are READY,
for the Latest Powerpoint and notes
Revised Updated Features … See the Powerpoint dated 24-9-2020 click here
See the previous Video dated March 2020 below.
The TCS journey Begins
New Button Created : TCS Support Data
Report 1 : Which Customers are covered ?
Those whom you sold goods worth over 50 lakhs in 1 year. One Customer with 4 plants, will be counted as 1, since this is PAN based totalling
Report 2 ::Customers with TCS Rates
example 1 % or 0.1%. ( or this year 2020-21 : 0.075% or 0.75% )
Report 3 and 4
Summary of TCS,
purpose. : for TCS Return
Details of TCS, additional report
Report 5
Invoices wise TCS Details… for transaction level details
Drill down and Click , option 5 : shows full detail with invoice number , and date etc
How to set the Master Files ?
Finsys, helping make your Business Better
Charges ?
Free , this Fast Readymade Solution is Free of Cost to all customers whose account is “Regular” in Finsys books.
Purpose ?
Why did Govt do this ? . The International Think Tank of USA led OECD countries and G-20 Countries, of which India is an active member, found out that across the world the Job workers and anybody whose TDS is deducted is a higher percent of tax payer than that of seller of Goods. Sellers of Goods have no pressure to pay Advance Tax. So, the Governments Worldwide are planning this New Tool of TCS to get more revenue and reduce the Tax evasion possibilities.
The Governments have assured that if anybody’s Tax is higher than required, then it will be refunded to him/her as usual.
[ And no Doubts, now the Refunds do come automatically and online credited to your bank accounts , without any “extra” efforts. }
Other points
It is important to note that for calculating the threshold of Rs.10 Crore, the total turnover including gross receipts and sales is to be taken into consideration whereas for computing the threshold of Rs.50 Lakhs, only sale of goods is to be considered
Non Applicability of section 206C(1H) in the following cases:
1. If goods are exported from India to any country outside India.
2. If buyer is liable to deduct TDS under Income Tax Act.
3. If the goods sold are already covered under sub sections (1), (1C), (1F) and (1G)* of section 206C
*Inserted via Finance Act, 2020
Thank you.
Contact Finsys Team,
Escalation in case of Grievance-Delivery side , Mr Virender Singh, Phone # 9310008914
Delivery is assured “Free of Cost”, to all customers whose AMC is fully paid up, In case of Queries on our Ledger matching with your Accounts Dept. You may call Mr Bhim Sen Modi, Phone # 9555333195.
You may also Contact the Technical team on on 9015220220 ( India Call Centre Number ) : Extension : 1 & 2
ERP Software For Mono Carton Box and Duplex Folded Cartons
Video link below
Finsys ERP Process for Managing Business of Manufacture of Packaging solutions , Printed Cartons & Security Packaging
System to utilize your Men, Machine, Material, Money, better and Better
Finsys Web based Interface
Finsys ERP has Auto Generated push reporting , to alert and update users on the screen of important working in the Organization
The Dashboards and Graphs auto Refresh to highlight and update users on the screen of important trends and activities in the Organization
Finsys ERP Sales Dashboards help in reviewing the data quickly and effectively
Now the Demo
of the Main Production Cycle
What Profitability reports will I get ?
Enquiry / Lead from Customer
for Mono Carton
Profitability Report
( Every job).
And ….
I want the Profit Customer Wise
Customer wise Value Addition report
Showing customer wise profit during a time band
Drill down to item level
What if ….
I want the Profit …. Item Wise
Item wise Value Addition report
Showing item wise profit during a time band
Drill down to customer wise.
Mono Carton Costing based on Standard Parameters
Mono Carton Costing ( model 2)
Options for Standard Working
Enquiry Registration + Action
Quotation to Customer + Monitoring
Sales order From Customer
Process Plan / Product Specs
Stage Mapping (Routing)
Job Card Creation and Monitoring
Machine Planning + Work ORders
Stage Wise Production ( As per Routing)
Sorting packing +Finalization
Dispatch Advice ( Packing List)
Sales Invoice (For Shipment)
Accounts ( Account Receivable )
Item Creation in Finsys
Customer Creation
Finsys Enquiry Booking Screen
So that no Enquiry/lead gets missed
Quotation linked to Enquiry
(Auto populated from the Enquiry )
Quotation Print for Sending to Customer
Sales order linked to quotation
(Auto populated from the Quotation )
Order approval step
for approved production process
Sales Order Scheduling for correct and timely delivery monitoring
Lead vs Quote vs order report
RM Name Auto creation for standard item naming , weight calculation
31 Day Schedule planner for timely production and delivery monitoring
5 Day planner for closely monitoring the pending order , stock in hand ,production and delivery date
Auto generated reports for dispatch monitoring
Process Plan /Bom / Item specification Master Crea ted, approval check point
Stage Mapping / Routing Process
for setting standard Process timing.
Report 3 and 4
