Like you have photoshops, after effects and coreldraw for graphics work and AutoCad for scientific designs like that to manage  business we use ERP softwares. 

In nutshell if you want to understand ERP then you can say ERP is a type of software which is specially designed for handling business’s day to day activities like Finance, Inventory, Purchase , Sales , manufacturing and other important modules. 

Utility or Value of an ERP software

Utility of ERP software is very high and important. ERP lets you handle all your business resources very properly and efficiently. Because good ERP softwares has the capacity to validate or counter anything which is not in order and not going according to company policy.

You can set company policy in ERP software like if you want to give a discount but it shall exceed 20% then in ACCU360 ERP you set the highest level of discount per item wise. So when you create an invoice or give Sales Quotation and if your Sales Executive wants to give a 21% discount then you can display notice or you can send for approval.  

ERP provides this kind of feature which you can configure to automate your business. 

ERP softwares really adds some good value to your company and to your company’s ecosystem as well and gives clear visibility and policy of your company to your employees or investors. 

Does ERP help in scaling business?

Yes, ERP software can really give you a very strong pillar to scale up your business. If you are using quality based and well process driver ERP Software then those ERP will have all the features to handle your large business operation and also can easily handle your business.  ACCU360 has all the features which are needed for multi branch companies like.

1. Cost Centers 
2. Branch Wise configuration
3. Roles and Permission
4. Multi Currency 
5. Multiple country’s compliances
6. Multi level workflow. 
7. Team coordination and collaboration

So, any ERP which is following real concept of ERP software then all these will bear minimum features and during selection of ERP you should clearly have a demo.  

Business Process Development in companies.

As you know, to handle any situation in business we already have a business process like for financial entries you use the Journal Golden rules  and then we have the Journal Entries System.  So like this we have a process for all the activities that we do in business. 

ERPs are developed using Standard Business Operating Procedure so you can say adoption of ERP software for your company can really provide a very efficient and robust business process to handle your day to day activities.   

Main features of ERP

As per my experience and understanding ERP must have all the modules which are required to manage a business. In general we need the following modules like Finance, Inventory, Sales ,Assets, Purchase, CRM, HRM and then as per industry special modules are needed like Manufacturing, Projects, logistics and other as per industry. 

All the modules should be tightly integrated so that every department can work  separately and still be connected.

Like if your salesperson puts in any expense claim and then the system should send it to their manager for approval and then once the manager approves it then the finance department shall get notification to credit the payment. So without any manual communication system they have the capacity to coordinate with all the departments. 

Technical Evaluation of and ERP software.

How to evaluate an ERP software ? 

First of all you should divide ERP in two parts.

1. One is Functional 
2. Second is Technical 

In the Functional part you can check all the features of ERP which are being provided and how easy or how it is handling your entries or record keeping methods. Functional understanding of an ERP is very very much important as your user will use the features and functions only. More efficient function means a more complex situation you can handle in that ERP software.

In Technical part you can check the following things

1. Technology behind software.
2. How easy to customize .
3. What language is being used to process backend data?
4. Data security and its efficiency.
5. Large data processing .
6. What database is being used. 
7. Whether multiple databases are supported or not. 
8. Whether providing only Cloud or On-Premise.
9. Also check Hybrid implementation possible or not if you are implementing for Hyper Market or where 0% downtime is required.
10. How scalable it is
11. Also check update and backup process

Also note you should always have a consultant with you while choosing ERP software otherwise you end up with wrong software or it can cause you very high implementation cost or entirely fail. 

ERP software is not just a software it is an ecosystem in your company it is a lifestyle for your business. 

Who should use ERP software?

Every business, ERP should be like blood flow in the body for your business. If you need to scale and have proper control over your business then you should plan for ERP from the very first day.

ERP also reduces confusion between your employees and reduces the gap between employee and management. 

ERP implementation challenges.

ERP implementation is very not everyone’s cup of tea. Most of the time if you have chosen a good ERP then also ERP implementation can fail. Implementation partners play a major role to make any ERP successful in companies. If your partner from whom you bought software and not having good years of experience in implementing ERP then you can face huge challenges and catastrophic situations. 

Also in some companies we have noticed that they want to implement ERP software but they do not want to change their legacy process even if it is wrong .

So resisting all your legacy processes can really create a non movable situation during ERP implementation. Companies with a fixed set of mind can really fail the entire ERP implementation. When adapting new software and want to make tomorrow better for your business, then you have to go with Standard Business Operating Procedure. 

Learn more about accu360 ERP https://docs.accu360.in

Value Added Tax (VAT) was introduced in Saudi Arabia on January 1, 2018, as part of the government’s efforts to diversify the country’s revenue sources and reduce reliance on oil exports. VAT is a consumption tax that is imposed on goods and services at each stage of the supply chain, with the final burden of the tax ultimately falling on the end consumer.

The standard rate of VAT in Saudi Arabia is currently 15%, which is one of the highest rates in the world. However, there are certain goods and services that are exempt from VAT, such as healthcare, education, and financial services.

VAT registration in Saudi Arabia

To registers a business in Saudi Arabia, follow the below mentioned process: 

• Register for Tax Identification Number (TIN)
• Login to the GAZT portal
• Select the option VAT registration from the dashboard
• Provide the details and documents for finishing VAT registration.
• Declaration

Businesses that are required to register

Businesses that are required to register for VAT include those with annual revenues exceeding SAR 375,000 (approximately USD 100,000), as well as businesses that provide taxable goods and services to customers in Saudi Arabia. Registered businesses are required to charge VAT on their taxable supplies, and must file VAT returns and pay any VAT owed to the government on a regular basis.

The implementation of VAT in Saudi Arabia has led to some challenges for businesses and consumers. Businesses have had to adjust their pricing structures and accounting systems to comply with the new tax, while consumers have seen an increase in prices for goods and services. However, the government has also provided support to businesses to help them adjust to the new tax, and has implemented measures to mitigate the impact of the tax on low-income households.

Despite these challenges, the introduction of VAT has helped to increase government revenues and promote fiscal sustainability. The government has stated that it plans to use the additional revenues generated by VAT to fund public services and infrastructure projects, and to support economic diversification and development.

In conclusion, VAT is an important part of the Saudi Arabian tax system, and has helped to promote fiscal sustainability and economic diversification. While its introduction has led to some challenges, the government has taken steps to mitigate the impact of the tax on businesses and consumers, and the benefits of the tax are expected to outweigh the costs in the long run.

What are Taxable and non-taxable supplies under KSA VAT Saudi Arabia

Standard-rated supplies: All products or services delivered in Saudi Arabia are eligible for 5% VAT unless they are marked as exempt or zero-rated. Some instances of standard-rated supplies contain:

• Food and beverages
• Private healthcare and educational services
• Local transportation
• Rent and sale of commercial buildings
• Sale of residential buildings

Exempt supplies: Goods and services that are specified as exempt will not have to pay VAT. Some of the examples of exempt goods and services are:

Residential rent (leasing and renting of the residential property)

Specific financial services

• Zero-rated supplies: Zero-rated supplies consist of a 0% VAT rate and include:
• Non-GCC exports
• International transport
• Medicines and medical goods
• Investment in certain metals like gold, silver or platinum 

Keeping track of each compliance activity, preparation of records, returns, paying taxes on time, etc. will require a considerable investment of time, employees and energy to do these tasks manually. It is, hence, very important for businesses to evaluate the various software available and select an appropriate software that will ease the compliance activities and leave you with enough time and resources to focus on your business.

For tax practitioners also, this is a crucial period to learn, understand and prepare for VAT and the compliance activities which will arise with the implementation of VAT. It is important for them to prepare themselves, their teams as well as their clients for VAT.

While history is being made in Saudi Arabia with the implementation of VAT, this is the opportunity for businesses to capitalise on the new business environment under VAT through adequate preparation and planning.

Streamline your compliance party with ACCU360 ERP.

ACCU360 is fully ready ERP software you can easily handle all the requirement like VAT and Zakaat and integration with ZATCA portal.

Here you can see the VAT invoice from ACCU360 ERP and its report.
KSA Invoice from accu360 erp
Saudi Arabia Vat Summary Report

Saudi Arabia Vat Summary

• Basic food items such as bread, rice, and fresh vegetables are subject to a zero VAT rate.
• Healthcare services and medicines are exempt from VAT.
• Education services and related goods such as textbooks and school supplies are also exempt from VAT.
• Residential property sales and rentals are subject to a zero VAT rate, while commercial property sales and rentals are subject to the standard 5% VAT rate.
• Financial services such as loans, insurance, and investments are exempt from VAT.

What is VAT under GCC?

VAT under GCC is a tax levied on the supply of goods and services within the GCC countries. The standard rate of VAT is set at 5%, although certain goods and services may be exempt or subject to a reduced rate. VAT is collected at every stage of the supply chain, from production to distribution to final consumption. Businesses are required to register for VAT if their annual turnover exceeds the registration threshold of AED 375,000.

VAT Laws:

View UAE tax laws and procedures (VAT and excise) on the website of the Federal Tax Authority.

Useful links:

• Federal decree-law No. 8 of 2017 on value added tax (PDF, 1 MB)
• UAE Cabinet Decision 52 of 2017 on the executive regulations of the Federal Decree Law No. (8) of 2017 on Value Added Tax
• Federal law by decree No. 13 of 2016 concerning the establishment of the Federal Tax Authority (PDF, 1.5 MB)
• VAT FAQs – Federal Tax Authority

Criteria for registering for VAT

A business must register for VAT if its taxable supplies and imports exceed AED 375,000 per annum.

It is optional for businesses whose supplies and imports exceed AED 187,500 per annum.

A business house pays the government, the tax that it collects from its customers. At the same time, it receives a refund from the government on tax that it has paid to its suppliers.

Foreign businesses may also recover the VAT they incur when visiting the UAE.

Read more on VAT registration:

• VAT user guide – registration and deregistration (PDF)

What are the implications of VAT for businesses?

VAT has significant implications for businesses operating in the GCC countries. Firstly, businesses must ensure that they are compliant with the VAT regulations and that they are charging the correct amount of VAT on their goods and services. Failure to comply can result in penalties and fines. Secondly, businesses must maintain accurate records of their VAT transactions, including invoices, receipts, and VAT returns. This can be a significant administrative burden for businesses, particularly those that operate across multiple GCC countries.

What are the benefits of VAT under GCC?

VAT under GCC has several benefits, including:

1. Diversification of revenue: VAT provides a new source of revenue for the GCC countries, which have historically relied on oil exports for their income. This diversification of revenue can help to mitigate the impact of fluctuations in oil prices.
2. Increased government revenue: VAT is expected to generate significant revenue for the GCC governments, which can be used to fund public services and infrastructure projects.
3. Increased transparency: VAT provides a more transparent and efficient way of collecting tax revenue, as it is collected at every stage of the supply chain.

In conclusion, VAT under GCC is a significant development for businesses and consumers in the region. While it may present challenges for businesses in terms of compliance and administration, it has the potential to generate significant revenue for the GCC governments and to provide a more transparent and efficient way of collecting tax revenue. Consumers can expect to see an increase in prices for certain goods and services, but basic necessities are exempt from VAT.

How to register for VAT?

Businesses can register for VAT through the eServices section on the FTA website. However, they need to create an account first. For more details about VAT registration, please read VAT registration User Guide (PDF).

How is VAT collected?

VAT-registered businesses collect the amount on behalf of the government; consumers bear the VAT in the form of a 5 per cent increase in the cost of taxable goods and services they purchase in the UAE.

UAE imposes VAT on tax-registered businesses at a rate of 5 per cent on a taxable supply of goods or services at each step of the supply chain.

Tourists in the UAE also pay VAT at the point of sale.

Implication of VAT on businesses

Businesses will be responsible for carefully documenting their business income, costs and associated VAT charges.

Registered businesses and traders will charge VAT to all of their customers at the prevailing rate and incur VAT on goods/services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.

How ACCU360 can help you to streamline your business according to all new taxes and compliance requirement?

In ACCU360 ERP you can easily meet all your digital transformation and meet all the compliances. Right starting from VAT system to corporate tax and E-Invoicing you can in ACCU360 ERP.

Sales Invoice Arabic Version

Accounting Module

Every manufacturing unit needs ERP software for better management. ERP software helps you in centralizing your business process and monitoring as well. You can easily standardize your business process to run the business smoothly and scale up at same time.

Nowadays companies are switching to cloud ERP for centralize control and also they need to access it from anywhere.

So there are end of points to consider ERP software in your manufacturing unit.

ERP software also help you in better resource management and to maintain a certain level of stock by checking re-order level or by demands analysis automatically.

There are lots of production manager who do all these calculation manually and some with huge mistakes in some calculation.

Let’s first understand what is ERP software actually and why company or manufacturing unit need to use it.

ERP is a short form of Enterprise Resource planning. In nutshell it is software which is use by companies to manage their business. Like there are lots of software for different fields according to their requirement for example for banner designing you use Photoshop or canva for presentation. Likewise ERP software are specially designed for business management according to business requirements. ERP softwares are really complex and sophisticated tools. There are lots of software they claims that they are ERP software but in real they are single or two module softwares.

Now let’s understand the basic character of an ERP Software

1. ERP Software should have all the business process as per Standard Business Operation methods.
2. It should provide customization facility to customize the software according to your need.
3. Better workflow management
4. Complete approval mechanism should be there from simple approval mechanism to complex approval system.
5. It should have integration facility like APIs for integration it with any third party application as per requirements
6. Auto alert and notification mechanism
7. Close integration with all the other modules so that all the departments can work seamlessly together without manual communication.
8. Regular updates of the software for security and compliances.

These are few of the points which you should consider before purchasing any ERP software.

ERP for Manufacturing Industry

Manufacturing units must have an ERP software according to my view if you are not using ERP then you should start exploring ERP Immediately.

Modules need to be available in Manufacturing ERP Software

1. 1. Finance Module: Finance module is very much important for any ERP for manufacturing for cost analysis and for other finance activities.
   2. Inventory: Of course without inventory you cannot do the manufacturing. So make sure your ERP is fully equipped with inventory system. It should have highest level of inventory control mechanism or you can say functionality.
   3. Human Resource Module: HRM is one of the most important modules in Manufacturing ERP to calculate human resource requirement for particular manufacturing order you need to have Human Resource Module. Overhead cost in manufacturing is calculated by Inventory Cost + Consumption + Man Power Used. So make sure your ERP have HRM module with integrated Payroll.
   4. Assets Management: Assets management is required in Manufacturing ERP to calculate machine capacity and its availability for manufacturing any products in any particular time.
   5. Quality Management: Quality management is also very much important for Manufacturing ERP. Quality Control module should be very much integrated with Manufacturing Module.
   6. Manufacturing Module: Finally strong manufacturing module is required which should be closely integrated with all the modules. In Manufacturing ERP you must look after its flexibility and functionality. Basic things you need look after your manufacturing ERP module which is listed below.
      • Simple to Complex BoM Handling
      • Sub-Level BoM handling
      • Multiple Cost Calculation Methods
      • Routing Management
      • Work Station Management
      • If possible then IoT integration for actual overhead cost calculation

There are lots of things to considered in Manufacturing ERP but these are the basics functionality which you should never compromise while exploring Manufacturing ERP.

ERP in Manufacturing can really help you in so many way that you cannot even imagine. We have so many customers those who have migrated from their legacy to software to ACCU360 ERP . It really help you in streamline your business process , better communication with all the team member most important it provide better visibility of your business status and erase lots of communication gap with your team.

You can read more query in my quora profile

https://www.quora.com/profile/Atiqure-Rahman-2

The management of a business is the process of guiding and leading employees to achieve organizational goals. It involves setting direction, planning, organizing, coordinating and controlling resources to meet those goals. A good manager will have leadership skills that help them inspire their team members as well as make wise decisions on behalf of the company. In this article we’ll take a look at some key skills for improving your business management capabilities:

Leadership skills

Leadership skills are important for business success.

You can use these leadership skills to:

• Communicate effectively with employees, partners and customers.
• Make good decisions that align with your organization’s mission and goals.
• Develop strategic plans that set the direction of your business based on current conditions, industry trends and customer needs.
• Manage projects from beginning to end in order to maximize profitability or meet deadlines for projects or products/services launched into production (or just starting).

Communication skills

Communication skills are an important part of business. You need to be able to communicate with your employees and customers, as well as other stakeholders, so that everyone understands what you’re trying to say.

Communication is also essential in order for you to work effectively with others who are different from yourself. For example: if someone on your team has an issue with another member of the team or their work performance, it’s important that they feel comfortable expressing their concerns without fear of retaliation or being judged harshly by others in the office environment.

Decision-making skills

You should be able to make decisions based on facts and data.

• Make decisions quickly. A good decision maker is able to make a decision within a few minutes, not weeks or months. If you’re waiting for an answer from someone before making a move, it’s likely that you’ll end up changing your mind about the best course of action.
• Make decisions that are in the best interest of the company as well as its customers and employees (this one might seem obvious, but it’s worth mentioning). When making any type of big-picture business decision—such as hiring new employees or renting out space—you need to think about how it will affect everyone involved: yourself, your employees and clients/customers/etc., too!

Strategic planning skills

Strategic planning is the process of developing a business plan that guides your company in the direction you want it to go. It’s like having a map for a road trip, but instead of just seeing where you are and where you’re going, this map will help guide your decision-making as well.

A good strategic plan can help improve productivity and profitability by identifying opportunities for growth and making sure those opportunities have already been explored before determining whether or not they are worth pursuing further. It also helps keep employees focused on their goals instead of worrying about what might happen if they don’t stick with them through thick and thin (or even thinner).

The most effective way to implement strategic planning is through regular meetings with all employees involved—including new hires—to discuss goals as well as possible solutions for reaching them

Project management skills

Project management is the process of managing projects, both large and small. It involves coordinating activities with other departments, setting goals, identifying risks and opportunities, establishing priorities and evaluating results.

Project management skills are important because they help you create successful projects. By learning how to use tools such as Gantt charts or spreadsheets effectively it will be easier for you to keep track of things so that everything goes smoothly during your project’s lifecycle.

There are many different approaches when it comes down making sure that each step leads towards completion; however there are some commonalities between all these processes (and their variations).

Negotiation skills

Negotiation is a skill that can be developed. It is a process of communication and persuasion, which involves the use of logic, emotion and other factors to gain agreement from another person or group.

There are many ways to practice negotiation skills:

• Read books on the subject (e.g., “The Art Of The Deal” by Trump)
• Take classes in negotiation techniques through your job (e.g., HR department)
• Attend seminars on the topic at conferences and trade shows where you live

Delegation skills

Delegation is the process of giving work to other people. It’s a management process that helps you achieve your goals and it’s a way of delegating responsibility for tasks to other people.

Delegation can be used in many different ways, including:

• Giving someone else the task of completing an important task on your behalf. For example, if you’re running late for work because you have an appointment with a client or customer, then they could complete that meeting while you attend yours instead (and vice versa). This would allow both parties’ schedules not to conflict with each other by allowing them both access to their respective offices without worrying about having too much overlap between them which could lead up tensions within the office itself.”

Teamwork and collaboration

As a business owner, you need to be able to work with others. You will have many people working for and with you in order to achieve your goals. Teamwork skills are important for business management because they help your team work effectively together towards a common goal.

Teamwork and collaboration can be learned by anyone who takes the time to practice them regularly; however, if this is not possible then it’s important that leaders who are looking for talent do not just accept any applicant who claims that he or she has such skills! Instead, ask questions about how well each candidate performs them (and also look at their past performance).

To improve business management skills, work on improving leadership and communication.

To improve business management skills, you must focus on improving leadership and communication.

Leadership skills are important for any type of leadership position in a business or team building exercise. They include:

• Communication – communicating effectively with your team members and co-workers is vital to having an effective organization that can run smoothly while still being able to make decisions on top priorities at all times.
• Decision-making – making good decisions when it comes down to whether or not something needs done is an essential part of being successful in any area where you work with others; whether it’s on social media platforms like Facebook or Twitter where users interact with each other through photos posted onto walls within groups called “lists,” groups themselves making up communities based around interests like sports teams–or even just one person posting content about their day at work! In order for this system  to work best though there needs  to be clear guidelines set out beforehand so everyone knows what’s expected from them before they start working together as part their respective teams.”

How ERP software help you in Better Business Management?

Also all the big companies are using ERP software for their business management. ERP plays a very much important role in business handling. ERP also help in better record keeping and communication between teams.

So if you are planning for bigger business or even in Mid size it is recommended  to go for ERP software in your company without any second thoughts.

ACCU360 ERP is totally cloud based ERP and we are helping end numbers of customer to implement ERP software and have very high success rate.

Visit our client page.

Conclusion

As you can see, there are many different skills to develop in order to be successful in business. It is important to keep up with your knowledge and stay on top of new developments so that you can make sure your business grows and flourishes. We hope these tips have been helpful!

In this day and age, you can’t afford to be without an ERP system. The right software can help you streamline your business processes, increase productivity and improve profitability. It’s also important to note that there are many different types of ERP systems out there so make sure you do your research before choosing one!

Reduce manual data entry. Eliminate duplicate data entry and eliminate costly errors with automation.

Data entry was once considered an unavoidable expense, but with the rise of ERP software and its ability to automate tasks, it’s now considered an unnecessary burden. This can be seen in many industries where manual data entry is a constant source of error:

• Manufacturing plants
• Retail outlets
• Financial services firms

Simplify processes. Reduce the time spent on manual tasks and streamline your operations.

ERP software simplifies the process of managing your business. It automates many of the manual tasks involved in running a business, allowing you and your team to focus on what’s most important: growing your company.

ERP helps you manage your finances better by making it easy for you to track sales, expenses and inventory levels across multiple locations or departments within one system. This helps reduce errors and increase efficiency—which means more time for doing other things like growing revenue or spending less money on supplies like paper clips!

Improve inventory control. Optimize your inventory levels and maintain current stock levels across multiple locations.

• Improve inventory control. Optimize your inventory levels and maintain current stock levels across multiple locations.
• Reduce stockouts and increase customer satisfaction with an automated system that follows the best practice of maintaining an accurate record of products in transit, at destination or sitting in storage awaiting pickup.
• Reduce inventory costs by reducing waste due to inaccurate tracking of product movement throughout the supply chain (i.e., “stock outs”).
• Improving Customer Service: With accurate product information available on any device at any time from anywhere there’s no need for long waits when making changes or adding new items/services as you can do so quickly, easily and securely.

Gain visibility into every aspect of your business with real-time data.

With ERP software, you can gain visibility into every aspect of your business with real-time data. Real-time means that you can see what is happening in your business at any time. You can make better decisions based on real-time data because it gives you a clear picture of how customers are interacting with your products and services and how they are responding to changes in prices or features.

ERP software allows companies to be more productive because it provides them with instant access to information about the state of their businesses so they can take action quickly if necessary. This type of functionality is especially useful when there are urgent matters requiring attention from management level employees who may have different roles within an organization (e.g., finance manager vs marketing director).

Improve accountability by connecting information to employees so they can be more productive and accountable to their managers and customers.

The first and most important reason to use ERP software is to improve accountability. By connecting employees to information and processes, you’re able to increase employee productivity, accountability, and efficiency. This can help your company become more profitable by improving morale and reducing costs associated with error-based workflows (such as filing).

When an employee understands why they’re doing something—what their purpose is—they’re more likely to follow procedures because it makes sense for them as well as for the business at large. It also allows them see the impact of their actions on the business: what happens when someone doesn’t follow procedure? How does this affect our reputation?

An ERP system helps you to focus on your business, rather than on technology.

An ERP system helps you to focus on your business, rather than on technology. This can be especially important for small businesses with limited resources and time. When you’re not spending your time trying to troubleshoot problems with the software and hardware, it means that you have more bandwidth for other tasks—like growing your company!

An ERP system allows you to streamline processes within the company so that everything is done in a consistent way across multiple locations or departments within an organization. It provides a single view of data across all of its users (including partners), allowing them all access at once instead of having different sets of information stored separately by each individual user who uses it regularly.”

Conclusion

ERP software is an important tool in the hands of any business. It allows companies to focus on their core competencies and come up with new ideas for growth. Not only does this help them stay competitive, but also makes it easier for employees to get on board and stay focused on what’s most important – making money!

Production Routing

It is important to have a production routing in place so that you can manage your production wisely. Here are a few things to keep in mind when creating your routing:

1. Make sure that each step in the process is clearly defined and documented.

2. Estimate the time required for each step in the process.

3. Determine the sequence of operations.

4. Allocate resources (time, materials, and people) to each step in the process.

5. Plan for potential problems or disruptions in the process.

6. Review and revise the routing regularly to ensure that it remains effective.

Material Requirement Routing

The first step in an effective production routing is ensuring that you have the necessary materials on hand. This means having a clear understanding of what materials are required for each stage of production, and ensuring that you have a steady supply of those materials. Accu ERP provides comprehensive material requirement routing functionality, allowing you to see exactly what materials are needed for each stage of your production process. This ensures that you always have the necessary materials on hand, and reduces the risk of delays due to missing or incorrect materials.

In addition to managing your own material requirements, Accu ERP also provides visibility into the material requirements of your suppliers. This allows you to better manage your inventory levels, and avoid stock-outs of critical components. By understanding both your own material requirements and those of your suppliers, you can be sure that you always have the necessary materials on hand to keep your production running smoothly.

Information required for BoM

As you plan your production, you need to have a clear understanding of the BoM for each product you intend to produce. The Bill of Materials (BoM) specifies the types and quantities of materials needed to create a product. It also identifies the sub-assemblies, assemblies, and components required to build the end product, as well as the source of those items.

In addition to materials, the BoM includes information on any tools or equipment needed to assemble the product, plus any special instructions on how to assemble it. This is vital information for accurate production planning.

To get started, gather all available information about the product, including engineering drawings, sketches, and specifications. You will also need data on the manufacturing process, such as cycle times and standard yields. Once you have this information, you can begin creating your BoM.

If you are using Accu360 ERP software to manage your production routing, you can easily create and maintain your BoMs in the software. The system provides a central repository for all your BoM data, making it easy to access and update as needed. Plus, you can use Accu360 ERP powerful search capabilities to quickly find the information you need when creating or revising production plans.

Job Cards automatically created from routing

If you have declared routing in BoM then while creating Production Order for that BoM system will automatically create Job cards for every routing. Once job card is created then your floor person will update their work status job cards wise.

Series routing and Parallel routing

In ACCU360 you can define series and parallel routing from BoM material window. You can also define your sequences of routing while defining routing. System will guide you during our job cards completion.

ACCU360 has made it simpler by adding payroll into HR module. Even salary slips can be previewed and it is sent to every employees by mail.  | Payroll in HRM

In payroll, we have

1. Salary component
2. Salary Structure
3. Salary Structure Assignment
4. Payroll entry
5. Salary Slip
6. Taxation and exemptions
7. Additional Salary
8. Employee Incentives
9. Expense claim
10. Employee Advance

Salary component

ACCU360 has the most flexible way to calculate the payroll. For the payroll, you have to create salary component first. Different companies can have different components. For example, companies can have basic, HRA, conveyance allowance, medical allowance as their salary components. For creating this, you need to mention the type of component and add whether its earning or deduction component. You can add conditions and formulas below to calculate the salary of each employee just as you do in excel. You have to give abbreviations so that it will be easier to make formulas.

Salary Structure

In ACCU360, you can create the salary structure for the whole year. It is just the combination of both earning and deduction component. You have to just add on the components in the salary structure

Salary Structure Assignment

Once your salary structure is designed, you have to assign this structure to every employee. Mention the date of joining of every employee along with their base pay. You can also mention variable pay if your company provides so. Once you submit this you cannot change the document. Suppose, if an employee has got increment, you have to create a new salary assignment and mention the date of their increment pay so that from next month he will get his new salary

Payroll entry

For generating salary of the employees, you have to first make a payroll entry. For this first you have to decide whether the company is giving monthly, weekly or daily salary. Fill up the fields of the employees like his department or designation. Check the attendance of employees first and then tick on validate attendance and post the start and end date for which you are giving the salary. When you will save there, it will come as “get employees” so that the name of the employee will come for which you are creating the salary slip. After this, you will get “create salary slip”. After clicking, again click on get employees, now you can see in dashboard your salary slip has been created and it is saved as draft.

salary slip

As you can see the salary slip will be created of the employee, and when you open it, you will see the calculation of the salary which include all his components and also the working and payment days, leave taken and also the mode of payment. You can also preview the salary slip in print format and the salary slip will go to each employee by mail.

Additional Salary

If an employee has taken advance or if he has some arrears, then for adjusting this in salary slip, you have to mention this in additional salary by mentioning the salary component and the amount to be given or deducted. When you submit this document, this will automatically calculate in salary slip.

Incentives are most important part for employees who are doing sales. For employee incentives, ACCU360 has this feature that you can simply enter the name and the amount of incentive that the employee is getting.

Expense claim

Employees can claim their expenses easily through ACCU360. Sometimes there is additional expenses that the employee has to bear and this can be claimed by the employees. For this, employee need to mention the date of expense, type of expense like fooding, travelling or others and mention the amount of expense. You can also ask for proof and attach it to the expense document. When the approver will approve the expense, this will be paid while you make the entries in accounting module and the status will be changed to paid from unpaid.

Employee Advance

Sometimes employee may need some advance for some reasons and this will get deducted from the salary. For this, employee must give an application in the software claiming for advance and the amount and reason they need advance for. | Payroll in HRM

]]> https://accu360.in/payroll-in-hrm/feed/ 0 https://accu360.in/new-changes-in-gstr-3b/?utm_source=rss&utm_medium=rss&utm_campaign=new-changes-in-gstr-3b https://accu360.in/new-changes-in-gstr-3b/#respond Tue, 16 Aug 2022 03:40:41 +0000 https://accu360.in/?p=2768 GSTR-3B is the type of declaration which is filled by the GST registered dealers on monthly basis. This is a form of self declaration which is filled along with GSTR-1. In this declaration, the information pertaining to tax liability are to be filled up in order to abide with the indirect tax regimes of the nation. Some changes are made in GSTR-3B in attempt to make it handier and complying with the legitimation.

Modifications in the tables

• CBIC has introduced a new table which is to be used by the taxpayers in order to give details pertaining to the supplies they give to ECO (E-commerce operators). Where such ECOs are entitled to take advantage of reverse charge mechanism.
• The table 4 is also changed comprehensively. Pointedly the Part B and Part D of this table. Reversal of ITC which was there in Part B and reporting of ITC cited in the Part D, both got amended. At the same time, it was ensured that the eligibility of ITC should not get affected.

Guidance to tax payers

• CBIC also published a new circular where it has stated all new directions for the taxpayers so they can file their returns in appropriate manner. As it has been seen that taxpayers make significant mistakes with respect to GSTR-3 these new guidelines were introduced by the authority.
• Some information which are relevant to electronic credit ledger has to be now provided in detail under table 4. The claims of ITC which are reversed under 4(B)(2) will be now shown in the Part D. Such ITC restrictions which are due to PoS so it would be stated there in Part D of the table.

Changes for quality augmentation

• Earlier it was experienced that there were some discrepancies which were toppling the ability of this return to revert best set of information to its users and specifically help state in collecting taxation amount form such tax payers. By making these changes the quality augmentation process is being improved.
• Inter state related supplies which are made to unregistered person would be presented there in Table 3.2 of GSTR-3B form. At the same time, the department also wanted to introduce sort of check in points so with this regard, they come up with the rule that the same information is to be presented in table-7B, or Table 9/10 or Table 5 in the GSTR-1.

Changes in relation to customer database

• The perils have always been there that the registered person was not updating their customer database. It was hindering the efficiency to bring crystal clarity to the department. Now this change is also imparted that all such registered person is intended to update such customer database.
• They will be providing up to date information. For instance- the name of customer, proper state name, correct POS etc. at the same time, would also ensure that this all information must be right as per the tax invoice and other relevant returns.

From the above evaluation, it can be summarized that the main feature of brining these changes was to make this return more helpful. Also, wanted to ensure transparency in order to minimize any possibility of jeopardies in legal taxation practise.

https://www.cbic.gov.in/htdocs-cbec/gst/newgst

We understand the importance of GST filing and making it easier for our customers to stay update date for any compliances. Accu360 has all the features related to GST filing starting from GSTR-1 to GSTR-3B and other GST reports.

Integration with GST portal

You can easily integrate accu360 with GST portal to exchange data and all the return from filed but your parties in 2A.

Additionally, you can import your GST portal data manually to compare your purchase data with Portal data. Accu360 will give you missing purchase in Portal and in your internal purchase also.

E-Invoicing in accu360 ERP

Accu360 has inbuilt E-invoicing mechanism you can easily generate IRN number from Accu360 only after creating your invoices. You can do the following events.

1. Create E-Invoice
2. Cancel E-Invoice

Updates

Our team constantly keep checking for any updates or changes coming from GOI. And we keep updating in accu360 accordingly time to time.

 You can reach to our support team to our partners for any assistance.