Reverse Remittance Entry Option in the Greytrix TDS Utility

TDS plays an important role within different sections of Indian Market, and almost every Individual/Company is liable to pay TDS to the government.

The TDS Deduction and Remittance process are easily followed by the Greytrix TDS users but the problem occurs if we need to reverse the TDS once the document is already remitted.

There are several occurrences when we deduct the TDS against a vendor and even selected the document for the Remittance purpose. Now as seen in the below screen shot the document has appeared within the remittance Entry.

Now for any reason if the user wants to remove the Transaction from the Remittance i.e. make the document available for Remittance again.

We have made this option easy in the Greytrix TDS utility, where in we have provided the “Void Remittance” button in our Greytrix TDS utility which will help you to reverse the remittance entry. This feature will make all the documents within the Remittance available for the Remittance again.

Below screen shows the Void Remittance button: -

Adding Additional Costs to Inventory When They Are Not Known At Time of Receipt in Accpac:

It is often identified that custom clearing agents or freight and insurance handlers do not bill the charges at the time of delivery of goods but send an accumulated bill on a monthly basis and then it becomes a headache for company to prorate it to inventory that is already shipped or consumed.

Then the company is left with following alternatives:

1.       To not to prorate the cost to inventory and directly add it to Cost of Sales at the end of year, hence compromising the costing effect.

2.       Wait for making the stock receipt till the time we receive a bill from vendor, which is not very practical.  To struggle and convince the vendor to send bills at the time of delivery, which your vendor might not agree to do.

Another alternative is to create a provisional vendor in Accpac Accounts Payable module for the purpose of prorating an approximation of additional costs on Inventory and then adjust the costs when the actual ones are known.

Let’s see in detail how this is accomplished:

Firstly we need to create a Provisional Cost Vendor Group and Account Set and Vendor in Accounts Payable module where the account set will link it to an account in General Ledger for Provisional Cost Vendor. Now go ahead and create the receipt selecting Provisional Cost Vendor (Let’s name him PR01) PR01 and put in the approximation of additional costs which is generally known to Accounts Team by experience. Then the respective Invoices against Material vendor and Provisional Cost Vendor shall be made.

	Dr	Cr
Inventory	100
Material Vendor		100
Inventory	30
Provisional Cost Vendor (PR01)		30

Next, when the actual invoice is received from your Additional Cost vendor, book it on the name of vendor (Let’s name him AD01) AD01 in Accounts Payable Module as a summary type invoice, and select the GL created as ‘Provisional Cost Clearing A/c’ under Income Statement.

	Dr	Cr
Provisional Cost Clearing A/C	40
Additional Cost Vendor (AD01)		40

Now to reduce the payable for Provisional Cost Vendor and increase the same for Additional Cost Vendor, pass a Credit Note/ Adjustment entry in Accounts Payable module while selecting the invoice created through PO Module and selecting the same ‘Provisional Cost Clearing’ account to be credited.

	Dr	Cr
Provisional Cost Vendor (PR01)	30
Provisional Cost Clearing A/C		30

Finally to adjust the difference between approximate and actual additional cost, create a GL-JE debiting Provisional Cost Clearing and Crediting COGS or Cost Variance account.

	Dr	Cr
COGS/ Cost Variance	10
Provisional Cost Clearing A/C		10

This way the inventory costs for each delivery can be identified and then added to COGS at the end of year.

Hope this helps ease your work.

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

Require ERP ? Ask for Sage ACCPAC ERP.

Every company requires a bridge which integrates their internal and external information. Information which is in the form of accounts, operational information, transactions, human resource, manufacturing planning,etc. An ERP through it modular architecture approach gives organisations a systematic workflow as well as a 360 degree view of all the departments.It actually segregates the available information and provides you with more clear and easy to access environment. ERP is must for every organization be it SME organisation or Large enterprises. The information is vast, even a small company has few people assigned especially to perform back office task such as Order tracking, revenue tracking etc. Handling such a huge amount of information becomes a nightmare for any team with a local customized solution or next to impossible for a company without any resource planning system. ERP is not only a solution, it is a tool using technology to solve the problems and streamline the business process. Advantages experienced by companies after implementing ERP are immense like : 1. Visibility: - Data or Information is visible to the entire members of the team operating back end operations. 2. Error-free: - Human err in inevitable but atleast reduces error percentage drastically and improves decision making. 3. Remote access: - Branches stay connected remotely and multiple operations can be performed from multiple locations. The best feedback by companies using an ERP solution is that they have gain control to their information. Many have achieved using Sage ACCPAC ERP. If you require ERP you contact Sage.Mail us at sales@greytrix.com

Upgrade to Sage ACCPAC ERP from Customized solution or local software.

In today’s world, all you need is just “Basic accounting software like tally or customized software from local vendor and a computer” to manage your business, is a misconception.

Customized solutions render perfectly to the perception of the business man but it does not match up to the business standards followed and practiced by business chambers across the globe.

Customized solutions run perfectly till the insight of the business holder is limited but once the business transactions increase and accountancy becomes a challenge that is when internationally acclaimed ERP software like Sage ACCPAC ERP or Sage X3, applications come to the rescue.

Local ERP or Customized solution vendors can project a picture of achieving all the requirements of the business initially including accounting, inventory and manufacturing but still can lack in features which can give business a cutting edge over the completion.

SME organizations which envision a constant growth chart will require a solution which is scalable and can seamlessly integrate with add-on modules to address the exact business process needs for example taxation modules like TDS or EXCISE to address business complexities and cement the growth.

SME organizations from various industries like trading, distribution, service, manufacturing, etc require a one stop solution which can provide broad range of features and functionalities to operate their ever growing business with perfection.
This is where world class business solutions like ERP (Enterprise Resource Planning) or CRM (Customer Relationship Manager) solution comes into focus.

Sage Software is 3rd largest business solution (ERP/CRM) provider which has a diverse product portfolio with applications such as Sage ACCPAC ERP, Sage X3, Sage CRM, ACT by Sage and Sage Saleslogix in India.

Why should SME organization look at Sage ERP?
1. Sage Accpac ERP is a World-Class Architecture that comes with an advanced application built on a multitiered and object-oriented architecture which allows SME organizations to choose the solutions and configurations that work best for them in terms of applications, languages, database or operating system etc.

2. Sage Accpac ERP shows ultimate scalability at the time of upgradation from one version to next as your business requirements expand, because all Sage Accpac products have a uniform interface. Sage Accpac also gives you a privilege of sharing workload on multiple servers, when there is increase in number of users.

3. Sage Accpac optimizes information in the form of reports for the faster access of critical information. Thus increases productivity up to greater extent. In addition, it allows you to save parameters easily and quickly export reports into Microsoft excel.

4. Sage Accpac ERP is easy to set up and use, it has customizable dashboard to suite your requirements and familiar interface which helps you effectively manage your business

One of our clients and a number one staffing company (recruitment) in Mumbai has achieved a tremendous growth in their business over last few years by upgrading from local software to Sage ERP as they suffered increment in operational costs, administrative costs and also decrement in internal schedule compliance due to the usage of an unstructured customized solution. They choose Sage Accpac ERP, an ERP for Staffing Companies over other options in the market because of its financial modules of general ledger, accounts receivable, accounts payable and Sage Accpac insight-business intelligence and reporting tool. On the technology side they had an option of deploying Sage Accpac ERP solution on Microsoft Windows or Linux operating systems that can run on a variety of back-end databases like Microsoft SQL server, IBM DB2, Oracle etc.

According to many research companies, majority of organizations (around 53%) are planning either replace or upgrade to ERP systems. Greytrix, a ERP/CRM partner of Sage In Mumbai and Delhi call out to these companies looking for an ERP/CRM solution for their business in India for free consultation. Greytrix, Sage Development & implementation Partner based in Mumbai and Delhi can provide an ERP/CRM consultant to understand you requirements and business pain points and suggest an apt application from Sage Software to run your business to gain optimum profits.

For free consultation and demo for ERP or CRM for Staffing Company, ERP or CRM for Trading & Distribution Company, ERP or CRM for Service Company mail us at sales@greytrix.com