How to Control Inventory?

May 17, 2025 Jasleen Kaur MLGA

How to control Inventory?

How to do Grouping Correctly?

How to Manage Data?

All these questions are answered by your Finsys.

Like wise an Aquarium with different marine animals inventory also have different sub-groups in itself named – raw material, work in process, semi-finished goods, bought out parts (BOP), capital goods & finished goods.

Opening Proper code while entering and making proper code for grouping is the only way to group your data more accurately and manage in your ERP system.

It doesn’t bother how much your ERP system is good until you are doing mistakes while entering data.

For an example, you have made the Material Receipt Report (MRR) as it’s necessary for accounting but not enter Issue Slip and also procrastinating it, this will rot the data eventually.

We visited one of our customer where they told us that their system gets auto lock in 2 days if something like above situation happens.

If auto lock happens every one gets intimation for not able to put data in back dates and the it gets reported.

Timely entry of all the necessary data, grouping correctly and not editing transaction will prevent you from all this.

Try to use Finsys efficiently and effectively.

Finsys at your service.

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.

You can also Contact us.

Checking Closing Stock Report…Daily???

May 6, 2025 Jasleen Kaur MLGA

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!!!

For more such information listen the video below by – Mr. Sangeet Kumar Gupta, F.C.A and Co-founder of Finsys.

Also Read: Why to attach hardcopy of vouchers with invoices ?

Advance Tax Payment

May 5, 2025 Jasleen Kaur MLGA

Facing Problem in Cash Flow while paying Advance Tax??

Here is the solution for you

Pay in EMI

Pay in Monthly Instalments

You can pay in 12 instalments even in 50 instalments by paying in every week.

Suppose you have to pay Rs.5,000,000 for the year start paying Rs.100,000 per year it will helps you in reducing burden of tax and solving the Cash Flow issue.

Enjoy your Accounting!!

Is it necessary to take Voucher Printout?

February 6, 2025 Jasleen Kaur MLGA

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.

For more such information listen the video below by – Mr. Sangeet Kumar Gupta, F.C.A and Co-founder of Finsys .

Integrated Association of Micro, Small & Medium Enterprises of India

February 1, 2025 Jasleen Kaur MLGA

E-circular dated 26-Jan-2025

Integrated Association of Micro, Small & Medium Enterprises of India

www.iamsmeofindia.com

E-mail: info@iamsmeofindia.com, +91-9711123111 (Executive Secretary)

Rajive Chawla

Chairman, IamSMEofIndia

Sangeet Kr Gupta

Hon. Consultant,

IamSMEofIndia

Dear Members,

Happy Republic Day 2025

Today, India, that is Bharat, is celebrating its 76th Republic Day.

On January 26, 1950, the Constitution of India was adopted,

and our country became a Republic.

Let us come together to celebrate the spirit of unity, liberty, and democracy that makes India truly incredible.

Let’s remember the sacrifices of our freedom fighters and work together for a prosperous India.

Let us also remember our Statutory Last Dates

4 days left

To give some Statutory annual payments

To Give contribution for the welfare of Workers in our teams

So, this is Labour Welfare Fund, Haryana

( Similar to Professional Tax, in some states, in some manner)

Last “Extended” Date for Annual payment and Annual Return

For Jan to December, 2024 : 31^st Jan 2025

( As relevant to our members )

Note : Refer Detailed notifications and FAQ for Details. This Circular is for “ease of Understanding” and encouraging our members to clear the issues… where possible. For fine print you can contact your friendly Auditors and Tax Consultants.

This is the Collection part….. fine

You have to pay this… ok

But , do you know,

You can help your workers with a lot of benefits

How many of you have actually helped your staff and workers get this benefit ?

Try this now….. Some user-friendly messages from the Labour Dept..

Please forward the same to your HR Dept

And give them a target to help arrange these benefits to your workers.

In case of the unfortunate event…. above benefits are also available for the dependents

Contact details

https://www.facebook.com/labourdepartmentharyana

Phone helpline

For LWF benefits

https://www.youtube.com/watch?v=NuHVEARp3O8

For queries, suggestions and feedback , you can e-mail us

Sangeet Kumar Gupta, FCA, DISA, ACMA, PGDMM, B.Com(Hons), Honorary Consultant, Integrated Association of Micro Small and Medium Enterprises of India, 93126-08426, Camp Off : TB-06, 3^rd Floor, Crown Plaza, Sector-15A, Faridabad, Haryana 121007 skgupta[at]finsys.in. I am SME of India Office … Plot No.135, Sector 59, Industrial Estate Phase-II, Ballabhgarh, Faridabad- 121004, Haryana

Subscription to our newsletters/ e-circulars

Please send your details, and request e-mail to info@iamsmeofindia.com / skgupta[at]finsys.in

for Discontinuation of this E-mail

To discontinue receipt of e-mails from the author, please reply mentioning “Discontinue” in the Subject.

Notes & disclaimer

The contents of this circular are for Private circulation & intended for the addressee/s only. We do not warrant that this email is free of mistakes, errors or any other defect. Care has been taken to provide authentic information, but it is advisable to confirm/verify with qualified legal practitioners, professionals before implementing any suggestions. The views expressed are not necessarily those of the Association. We encourage readers, our Members to write to us their opinions, suggestions, ideas, comments, thoughts and bring to our knowledge mistakes, omissions etc. which we’d be pleased to correct/implement.

For personalised suggestions, and solutions, contact our I am SME of India Team and Consultants

Excellent Web Based ERP Software Facilities from Finsys ERP Team

Finsys Accounting BPO Services … servicing Clients in Tamil Nadu, Gujarat, Rajasthan, UP, Haryana, Maharashtra, Uttarakhand, and of course Delhi NCR

Finsys ERP Software expands its services at Egypt, UAE, Saudi Arabia, Nigeria, Angola, Congo, Mauritius

Join India’s Largest MSME Network
Save Lakhs of Rs in Subsidies,

Network with Business Owners, Buy & Grow Collectively.

To Join us,

click https://iamsmeofindia.com/members/

https://www.iamsmeofindia.com/

As we wrap up this edition of the Special Republic Day 2025 E-Circular

Once again….we wish…May the ideals of our Republic inspire us to be better citizens and contribute to the growth and harmony of India.

Let’s take pride in our glorious past and commit ourselves to an even brighter future for our nation. Jai Hind.

How to Control Inventory?

All posts by Jasleen Kaur MLGA

How to Control Inventory?

How to control Inventory?

How to do Grouping Correctly?

How to Manage Data?

Checking Closing Stock Report…Daily???

Are you updated with your Closing Stock Report Daily ??

1️⃣

2️⃣

3️⃣

4️⃣

5️⃣

6️⃣

Make this part of your daily working routine!!!

Advance Tax Payment