TDS Cumulative cutoff Deduction

TDS has significant importance in Indian taxation system and every Individual/Company need to pay TDS to government. We are providing a brief explanation on handling of Cumulative Cutoff while operating the Greytrix TDS utility. 

Cumulative cutoff:

 If you check the cumulative cutoff check box then program will consider this section as under cumulative cutoff. You can define cumulative cutoff amount in NOD screen for those TDS section which are belonging from this categories. Refer the below screen shot.

Whenever we define a Nature of deduction with a cumulative cut off section we need to set a particular amount as cumulative cut off limit [refer the below screen shot]. As per the cumulative cut off section rule it says that all the documents which lie below the cumulative cut off amount do not qualify for TDS deduction.

But when any Invoice against the same vendor is created such that the sum of all the previous documents and the current one exceeds the cumulative cut off limit in that case deduction is done on the entire summed up amount.

For example consider VENDOR V0001 is under the NOD which has cumulative cut off section applied against it. Consider, cumulative cutoff amount is RS 30000, in this case if you create 1^st invoice of RS 25000. TDS amount will not be deducted for this invoice. But, if you create a document of RS 6000 then sum of all the documents results in to 31000 and this has exceeded the cut off limit along with the previous document. So, TDS amount would be RS 3100 if TDS percentage is 10.

Note: Suppose you define the cumulative cutoff as RS 30,000 and also you have provided the TDS percentage amount [e.g. 10] for range 0-30,000. In this case program will not consider this NOD as under cumulative cutoff. TDS will be deducted for all documents which are belonging from this NOD.

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SINGLE SOLUTION TO MUTLIPLE SERVICES PROBLEMS –SAGE ACCPAC (300) ERP

When business is expected to offer best services and product, then the need of an effective Service Management solution is realized. Sage 300 ERP accounting suite gives the luxury to plan, organize and control these products and services through its System Manager Module. Ultimate scalability and high accessibility are the strong key points for which one would like to go with this business solution offered by Sage.

Sage 300 ERP comes with flexible deployment methods making the process easy to manage and hence provides you the freedom to choose between On-Premise and Online deployment options. It allows you to have complete 360 degree view over your business and customers and thereby you can easily determine life-cycle financial profitability of your business.

When the business is done in multicurrency, Sage 300 ERP matches the best with the requirement. It includes multicurrency module which provides robust multicurrency and analysis capabilities so you can optimize your international opportunities. You can maintain an unlimited number of currencies and exchange rate schedules, update exchange rates daily and post realized and unrealized gains or losses due to currency fluctuations.

Sage 300 ERP also includes an administrative Service Module that doesn’t only allow creating multiple users with ease but also gives you authority to assign access and remove access to your users to particular branch or center with ultimate security.

We understand that your vendors or customers can demand assistance anytime or anywhere, to tackle this problem we have something called ‘Service Manager’ which is a multi-award-winning software solution for Service, Job Cost, and Maintenance industries. Service Manager is fully-integrated to the Sage 300 ERP accounting suite, by offering you wireless access to reach them with lower expense resulting in monitor profitability, increased productivity and improved customer service and satisfaction.

Pairing up with service manager, Sage 300 ERP maintain key activities like labor tracking, time entry and job planning etc. Users can show up in the User Web Portal and can access to their jobs scheduled with drill down options available at every instance.

Whether the business is involved in jobs and project costing or any other maintenance business, benefits are derived with deployment of Sage 300 ERP. Through this, it becomes easy to create and manage templates, quotations, jobs and projects, custom fields and list of task and activities. Allocation of staff of any level is done very smoothly without taking much time and clubbing of roles.

For free consultation and demo for ERP or CRM for Service Company mail us at sales@greytrix.com or call 022-67687800.

Sage 300 ERP a best fit for Hotels and Resorts

Pairing up with Smart Hotel Software, Sage software has deployed an easy to use and economically priced hospitality management software package for hotels with room size starting from 50 to beyond.

Sage Hospitality Suite consists of UniResMan and Sage 300 ERP formally known Sage ACCPAC ERP. UniResMan PMS will manage your reservations, deposits, check ins, check outs, guest folios, payments, sales & audit reports, housekeeping, and maintenance, with a strong interface to Sage Accpac ERP. Apart from the above crucial features, the package also offers you Yield management, Security, Web based reservation etc which hoteliers are finding it of great help.

 Sage 300 ERP is highly flexible, with an open database that lends itself to integration with other applications such as Smart Hotel Software which features a seamless integration to Sage 300 ERP which is considered to be one of the best Software Solution for single or multiple Hotel and lodging businesses.

One of the leading Hotel Company with more than 100 hotels operating in 27 countries using Sage ACCPAC ERP have developed an automated Income Journal that posts daily from their property management system directly to the hotels’ general ledger .This is just one example of how they have leveraged the product, to give their hotel managers the information they need to maintain and improve the operational efficiency of their properties.

To achieve the ideal business intelligence of tomorrow, hoteliers of all shapes and sizes are eagerly looking for a resource planning systems like Sage ACCPAC ERP which gives them the details they require for successful day-to-day op­erations, and helping owners get the summarized information they need for long-term planning.

With this in place, Sage ERP Accpac achieve almost all the hotel’s requirements precisely, delivering core accounting functionality, remote access capabilities, flexible reporting, and scalability at a competitive price.

Sage ACCPAC ERP also now known as Sage 300 ERP  is an extremely powerful tool that enables you to better manage your business by handling some of your tedious tasks such as: 

• Data availability which  ensures that you have a full record of customer data
• Multiple users can access the package as a staff or administrator and these profiles can be fully tracked and managed.
• Bill generation based on rooms, rates and other required services and enables you to directly print out the bill
• Track bills and payments.
• Saves time and also presents a professional approach to customers.

For assistance in determining if a Sage Business solution can help your Hotels better serve your business needs call 022-67687800 or mail us at sales@greytrix.com