SkyERP GST Plus The enormously talked about GST implementation has become a reality. The Goods and Service Tax, an unprecedented and revolutionary step in the Indian taxation system, is being proclaimed as the biggest tax reform in India. GST will add to the economic growth and bring simplicity in the way businesses operate by replacing existing Indirect taxes such as Excise, Value Added Tax (VAT), Service Tax, etc., into one taxation policy.

However, for businesses to proceed to function smoothly, their ERP solution/ accounting software will have to be GST-ready. GST invoice billing software’s are rampant in the market and free GST billing software in excel are being used by individuals to file GST. A GST ready software solution ought to have completely re-engineered the Tax Rule Engine, consolidating the new data.

Key Requirements for GST Compliance

• Updating Master Data Information: GST has completely overhauled the taxation in India. Under the new arrangement, tax rates will vary in regard to the charge of tax, point of supply of goods and services and time of supply. In accordance with these changes, your GST reconciliation software should have all updated master records information such as Inventory, Warehouse Information, Customer’s Bill To and Ship To Addresses, etc.
• Connecting new Reporting and Workflow systems: The GST-ready ERP system should have new robust workflow systems to effectively manage the consolidation of taxes and ensure timely submission.
• GST billing software is a prerequisite for organizations to ensure that they’re following GST norms.

Apart from the above GST compliances, businesses will benefit from a cloud-based ERP solution. SkyERP GST Plus is the best GST software in India that is a Inventory Management software with Order Processing and job work along with full GST compliance. We provide a free GST software demo to all interested parties. Inventory management software free demos are just a click away.

The Importance of Inventory Management

Defining Success through Stock Control

What is inventory Management and Inventory management definition? Inventory management is the supervision of non-capitalized assets (inventory) and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.

Importance of Inventory Management Inventory management system is important to all businesses because it helps them prevent stock outs, manage multiple locations, and ensure accurate recordkeeping. An inventory management system software makes these processes easier than trying to do them all manually. SkyERP GST plus is the best inventory management software that allows you to control stock levels and movement of stock over all stores of your organization. It also provides seamless reconciliation of marketing operations to maintain consistency throughout your company. SkyERP GST Plus provides an user defined dashboard wherein which users can chose what is to be displayed on the dashboard along with master data is set with product master and party master with HSN code and other details.

Module Overview: Order Processing to Sales

The Order processing module consists of the following:

• Purchase requisition: Request for Purchase is sent through Purchase requisition slip.
• Inquiry Details: Then the inquiry for the purchase are made here.
• Quotation Received: Quotation are received from different suppliers.
• Quotation Approved: A quotation is approved.
• Purchase Order: Easily create purchase orders for your vendors to include payment terms, quantity and other purchase information; available in multiple currencies. HSN code for product in GST is also included here.
• Goods Receipt Note: Provide your vendors with a delivery receipt of purchased goods, while mapping respective purchase orders, applied discount rates, and payment details.
• Purchase order for Job work: Purchase order for job work can also be created here.

SkyERP GST plus offers the best in its class environment for you to manage all your purchase processes, such as creating purchase orders, receiving goods, making payments, and allowing you to return defective goods with financial devices. You can create, monitor, and maintain all key order information of your purchases, ensuring that each purchase order is authentic and authorized. By connecting your purchase order to inventory control, you can obtain exact stock quantities, movement history, seasonal trends, and supplier lead points.

Financial and Stock Transactions

• Purchase Invoice: A purchase invoice can be used to prove that something was bought and how much was paid for it. An invoice is generated for the corresponding Purchase order.
• Purchase return: A purchase return transaction is when the buyer of merchandise, inventory, fixed assets, or other items sends these goods back to the seller.
• Credit/Debit note: When goods supplied are returned or when there is a revision in the invoice value due to goods (or services) not being up to the mark or extra goods being issued a Debit Note or Credit Note is issued by the supplier and receiver of goods and services.
• Input services: If there is a service rendered, then also there is a provision for Input services in the software. GST on software services
• Stock Issue & Stock receive: Automate and dynamically manage all stock operations such as inter-store stock transfer, stock issue, stock adjustment and auto shipment for complete information about the stock status and movement. It helps you manage stock allocations to multiple stores across locations with the centralized purchasing system.

Concept of Inventory Management and functions of inventory management Need of Inventory management software has not be as acute as today. The inventory management process consists of the following:

Production

• Issue for production: Along with party detail, the product details also get registered here.
• Receipt of goods: The receipt of goods for production is visible here. Along with whether it is own factory or job work has to be chosen here. The challan no. is issued along with making a recording of scrap quantity. There is also a provision for recording the BOM Details.

The Job work module consists of the following:

• Work Order: Work order no. along with consignee name and product details get recorded here.
• Receipt for job work: Receipt of job work along with the rate and quantity get defined here.
• Issue from Jobwork: Issue of job work along with the Issue slip no. and client name along with balance qty and wastage qty also get shown here.
• Dispatch Challan: The dispatch challan contains the details of the challan details like consignee, addresses and product details.
• Jobwork Invoice: It can be obtained through dispatch challan or work order. Containing job work details and product details.

Sales and Billing Management

Consolidating Customer Transactions

Sales and Billing Management consolidates the records of all products and services furnished to customers and manage the history of all past transactions associated with them. To make things trouble free, SkyERP GST plus organizes these by grouping various products in a single invoice for customers.

• Draft Order: Initially, order is drafted with client details and product details.
• Costing: Total cost is calculated here by quantity multiplied by units sold. THE BOM along with labor cost is calculated here.
• Sales Order: Easily create sales orders for your customer, including payment terms and complete sales information, as in customer quotation and purchase orders. It will show the order details, client PO details, and product detail.
• Delivery challan: It contains the challan details and Product details.
• Sales Invoice: Generate automated sales invoices including calculating sales tax, finance charges and discounts based on payment terms-either on a one-time or on a recurring basis.
• Supplementary Invoice: Supplementary tax invoice is a type of invoice that is issued by a taxable person in case where any deficiency is found in a tax invoice already issued by a taxable person.
• Commercial invoice: Invoice refers to a commercial document issued by the supplier to the buyer containing the details of goods and/or services supplied to him & notify the buyer that payment is due.
• Sales Return: Recipient returns the goods to the supplier.
• Debit/Credit note-rate difference: Generate a “Credit Note” for customers to use against sales invoices, if you need to refund your customers on a credit basis in order to get a refund in purchases.
• Output Services: Any services provided are to be recorded here. It has client detail, product details and terms and narration.
• E-Way Bill Bulk: E-Way Bill is an Electronic Way bill for movement of goods to be created on the eWay Bill Portal. A GST listed person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill. We can generate bulk e-way bill through our software generated as a JSON file.

SkyERP GST plus incorporates the entire sales/billing management cycle by enabling you to place a sales order, generate an invoice, and receive payment. The linking of an invoice and a sales order provides you an understanding into the sales process. It also presents a refund facility for customers on a credit basis through the “Credit Note” function. SkyERP GST plus ERP System can seamlessly handle “blanket sales” orders for products that are purchased and dispensed over time.

Vouchers, Reports, and Final Compliance

Vouchers Different types of vouchers are obtained here. The voucher no. and voucher date has to be entered along with party or vendor details and product details are to be entered.

• Advance receipt and advance payment: An advance payment is a type of payment that is made ahead of its normal schedule.
• Refund of receipt and refund of payment: Refund voucher is to be issued in the case of withdrawal of service or sale and a receipt voucher at the time of receipt of advance under GST.
• Receipt Adjust & Payment Adjust: In the receipt adjust voucher the amount adjusted on advance receipt or advance payment is recorded here.

Reports Our software helps in the creation of 167 types of MIS reports. A few of them are as follows:

• Purchase reports: Various registers like Purchase register, purchase return register, and input service register.
• Production reports: BOM Consumption report, annexure IV and annexure V reports.
• Job work reports: Work order register, Dispatch challan register and job work invoice register.
• Sales reports: SO variance sales order, sales register and sales return reports.
• Inventory reports: Stock register and Batch/lot register.

GST Returns SkyERP GST Plus is complete GST compliant software. The following GST returns are auto populated:

• GSTR-1: Monthly return summarizing all sales.
• GSTR-2/2A: Purchase-related tax return automatically created by the GST portal.
• GSTR-3B: Mandatory form for all GST registrants.
• GST ITC-04: Details of challans for goods dispatched to or received from job workers.

GST Suvidha Provider (GSP) A GSP is a service provider who helps the taxpayer to comply with the provisions of the GST law through its web platform. We are a GST Suvidha Provider and the software used is SkyERP GST Plus.

Conclusion

The right utilization of the ERP system is vital for any business. SkyERP GST Plus seamlessly integrates with Tally. Tally with SkyERP GST software is the need of the hour. We offer the best support services compared to Tally ERP 9 GST software and other software like Marg GST software and busy accounting software for GST. Today it has become a need of the hour for firms to walk hand-in-hand with emerging technologies for staying competent—SkyERP GST Plus is one such tool that is successfully helping businesses achieve that.

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Here are the modules:

1. Order processing

Order processing is the complete procedure of purchasing goods or services from a vendor or supplier for use within an organization. It begins with raising a material requisition based on sales orders, production needs, or direct requirements. Once approved, inquiries are sent to suppliers, quotations are received and compared, and the best option is approved. After approval, purchase orders are issued for materials, job work, or services, including running orders under rate contracts. When goods are received, a Goods Receipt Note (GRN) is generated to confirm delivery. With our order processing management software throughout this process, various registers and reports such as requisition status, inquiries sent, quotations received, purchase orders issued, and GRNs are maintained to track progress, ensure accuracy, and provide clear visibility through user-defined and functional reports.

2. Material Resource Planning (MRP)

It helps businesses plan and manage materials in a simple and organized way. It forecasts material needs based on sales orders, purchase orders, or expected customer demand and automatically creates material requisition slips from sales orders. Materials can be locked for specific orders to ensure availability and later unlocked or reassigned to other orders if required. By tracking material requirements, locked stock, unlock status, and reallocation, MRP ensures better inventory control, smooth production, and timely supply chain operations.

3. Quality Control

Our quality control management software helps businesses maintain product standards by checking material quality at every stage. Quality reports are generated for incoming materials from both in-house production and job work, ensuring defects are identified early. Job work issue quality reports further help track and maintain consistent quality across all processes.

4. Inventory Management

Inventory Management helps businesses control and track purchases, stock, production, and sales in a simple and organized way. It manages purchase invoices, returns, debit/credit notes, input services, and transactions from both registered and unregistered dealers. The system tracks stock movement such as issue and receipt for production, job work, and factory operations, along with bill of materials, consumption, and work-in-process. With detailed user-defined reports like stock registers, batch-wise and location-wise inventory, valuation methods (FIFO, LIFO, Average), scrap management, and profitability reports, the system provides complete visibility, accuracy, and better control over inventory and business operations.

5. Job Work Module

The Job Work Module helps businesses manage work that is done outside the factory by specialized job workers. Job work involves processing raw materials or semi-finished goods to complete part or all of a manufacturing process. It can be handled in two ways inward job work, where the business receives materials for processing, and outward jobwork, where materials are sent to external job workers. The module tracks bill of material consumption, process-wise job work, pending work, stock movement, work orders, dispatch challans, and job work invoices. By using job work management software features like, customer-wise inventory tracking, and periodic or monthly job work billing with e-invoicing, it ensures smooth coordination, clear reporting, and better control over job work operations.

6. Financial accounting Module

This Module helps businesses manage all financial entries in a clear and organized way. It records bank and cash receipts and payments, credit and debit notes, journal vouchers, contra entries, opening balances, imports, bank reconciliation, and voucher adjustments. The module provides easy-to-read reports such as daily books, bank and cash books, debit and credit note statements, and user-defined reports, with options to export data to Tally ERP. It also includes ageing reports for receivables and payables, detailed trial balance formats, balance sheets, and profit & loss statements giving businesses complete control and visibility over their financial health.

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What is Inventory Management Software?

Inventory management software is a system that aligns all the elements that are involved in the inventory management process. This system ensures that you have the right inventory to fulfill your orders and also keeps an updated automatic record of your supply chain management. It offers for you to see over one single platform; what you have and how much you have.

Benefits of using an Inventory Management Software:

• Better Inventory Accuracy
• Reduced Risk of Overselling
• Cost Savings
• Avoiding Stockouts and Excess Stock
• Greater Insights
• Better Terms With Vendors and Suppliers
• More Productivity
• Increased Profits
• More Organized Warehouse
• Understand Inventory Levels Across the Business
• Automate Manual Tasks
• Greater Visibility with Real-Time Data
• Improve Forecasting
• Data-Driven Decision Making
• Support Uninterrupted Production
• Harmonize Multiple Inventory Locations
• Optimize All Inventory

What is Quality Management Software?

Quality management software (QMS) is a platform that automatically regulates the process of tracking and controlling product quality and defects. Users may make use of such software to verify the final quality of the product and also check if any improvements are needed. A QMS helps coordinate the business activities to meet customer and regulatory requirements and improve its effectiveness.

Benefits of using a Quality Management Software:

• Defining, improving, and controlling processes
• Reducing waste
• Preventing mistakes
• Lowering costs
• Setting organization-wide standards
• Instil confidence in the client
• Ensures compliance with organization regulations

About SkyERP GST Plus

SkyERP GST Plus is a comprehensive Web-based software that lets you gain better control in business operations with full GST compliance. Built on four modules Inventory Management, Order Processing, Job work, and Document Management, the software is designed to reduce overheads, improve efficiency and manage non-core business functions.

Everex Infotech is customer-centric and aims to provide technology with comprehensive solutions to simplify your IT environment, Overcome your business challenges, increase your sales, maximize returns, and achieve your goals.

Get Free Demo Consultation with EverexInfotech for SkyERP  GST Plus software.

To know more contact us: +912242264444

Or visit: https://everexinfotech.com

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Therefore, it is always better to address your existing quality issues, proactively to improve customer experience, drive performance and maintain quality standards.

Implementing inventory management software alongside quality management software, such as SkyERP GST Plus, offers numerous benefits to business owners. It typically increases efficiency and productivity and is likely to give you an edge over your competitors.

Identifying areas to improve quality management issues without the right quality management software in place can be burdensome and complicated. To seamlessly enable consistency across the organization, companies must have a robust inventory and quality management software for quality management.

SkyERP GST Plus can help ensure that your customers get consistent, good-quality products and services. Thus you can convert your lead to new business as well as retain existing customers.

• Greater efficiency and Less waste
• Better Control of major business processes
• Better understanding of customer needs
• Improved risk management
• Increased customer satisfaction
• Greater consistency in the quality of products and services
• Differentiation of your business from its competitors
• Increased profits
• Reduction of costly errors
• Managing growth more effectively
• Maintain a culture of quality

Quality management is much more than just the department that holds up progress. It can help to save your organization time, resources, money, and brand reputation.

With so much at stake, it’s important to utilize technology, create a quality-based culture, and regularly audit your quality management processes to keep up with your ever-growing business. With SkyERP GST Plus, avoid these common quality management issues to keep your business running smoothly.

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In the face of these uncertainties, it becomes crucial to monitor production costs closely to sustain the profitability of your business. To achieve this, utilizing the optimal accounting software designed for manufacturing companies is essential. With the implementation of GST management software, these companies can streamline their processes, ensure compliance, and enhance overall productivity.

What are the Major Challenges in the Fabrication and Forging Industry?

1. Price Management and Tracking: Navigating the intricate landscape of metal fabrication involves addressing challenges related to pricing and charge management. Metal fabricator businesses often struggle with keeping tabs on various charges such as refining, fines, and treatment. Efficient management of these costs is essential for maintaining competitiveness. Furthermore, handling diverse payment methods becomes a complex task, as it relies on quotation periods ranging from weeks to months.

2. Streamlining Supply Chain Management: Efficient supply chain management is pivotal for success in the metal fabrication and forging industry. Managing commodities like metal requires meticulous attention to detail, and relying on human execution alone can be time-consuming and error-prone. Tracking parameters such as weight, quantities, surface specifications, and material costs demands significant manpower, contributing to increased operational time and expenses.

Features of SkyERP GST Plus & Financial Accounting Management Software:

1. Core Accounting Excellence:

• General Ledger: Maintain a robust ledger system for accurate financial tracking.
• Accounts Payable & Receivable: Streamline your financial transactions with efficient payable and receivable management.
• Bank Reconciliation: Ensure precision in financial records through seamless bank reconciliation.

2. GST Compliance Made Easy:

• Our GST accounting software, SkyERP GST Plus, is tailored to meet the compliance needs of manufacturing companies.
• Generate GST-compliant invoices effortlessly.
• Facilitate e-invoices and e-way bills seamlessly.
• Simplify GST return filing for hassle-free compliance.
• Conduct GST reconciliation with ease, ensuring accuracy in your financial reports.

3. Efficient Purchase Order Management:

• In the daily operations of a manufacturing company, procurement orders play a crucial role.
• SkyERP GST Plus Purchase Order feature simplifies the process of managing and recording daily procurement orders.
• Stay organized and maintain a comprehensive record of all orders placed, ensuring smooth accounting practices.

4. Efficient Inventory Management: 

Ensure optimal use of warehouse space with our advanced metal fabrication software. Record and track stock levels, locations, and usage effortlessly. The metal fabrication ERP software facilitates easy replenishment of required stock while eliminating outdated items. Maximize material utilization to reduce waste and save substantial inventory costs. Perfect for manufacturing companies, our software provides comprehensive control over stocks, offering a choice of over a dozen units or the option to create custom inventory units. Manage inventory seamlessly in batches for enhanced efficiency.

5. Robust Data Analysis & Reporting: 

Crucial for manufacturing companies, our software emphasizes data analysis to identify areas for process improvement and enhance overall organizational productivity. Backed by a renowned GST accounting system, this feature streamlines decision-making through insightful reporting. Unleash the potential of your business with our powerful GST and financial accounting management software.

6. Job Work Management:

Job work is a common practice in many manufacturing industries, including fabrication and forging. It involves outsourcing a part of the production process. To effectively manage job work operations, manufacturing companies often rely on software solutions such as SkyERP GST Plus with dedicated features. Job orders may include specific instructions, quality standards, and any other relevant information to ensure seamless collaboration.

7. Material Resource Planning: 

It is a critical aspect of manufacturing, ensuring that the right materials are available at the right time to meet production demands. MRP features in SkyERP GST Plus, streamlines and optimizes the entire material planning process. The software analyzes historical data, current orders, and market trends to forecast future demand for raw materials. Accurate demand forecasting helps in preventing stockouts and minimizing excess inventory, optimizing overall material management.

In conclusion, the adoption of GST management software is a strategic move for fabrication and forging companies aiming to enhance efficiency, ensure compliance, and drive profitability. From automating GST compliance to streamlining invoicing processes and offering industry-specific customization, the benefits of implementing such software are manifold. By embracing technology and leveraging the capabilities of GST management software, fabrication and forging companies can position themselves for sustainable growth in an increasingly competitive market.

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Inventory Management: 

The Inventory Management module allows businesses to effectively track and manage their inventory levels, ensuring that they have the right amount of stock on hand at all times. This Inventory management software helps to prevent stockouts and overstocking, reducing the risk of lost sales and improving overall efficiency.

Job Work:

The Job Work module enables businesses to easily manage and track job work processes, allowing them to efficiently outsource certain tasks while maintaining control over the quality and timeline of the work. This module also includes features for tracking job work-related expenses and generating reports on job work performance.

Order processing: 

The Order Processing module allows businesses to easily create and manage orders from customers, track order status, and generate invoices. Our order Processing Management module helps businesses improve efficiency in processing and fulfilling orders, reducing errors and ensuring timely delivery to customers.

Document Management: 

The document Management module allows users to store and organize important business documents, such as invoices, purchase orders, and contracts, in a centralized location. This module helps businesses improve document organization and retrieval, ensuring that important documents are easily accessible when needed.

Overall, SkyERP GST Plus is designed to help businesses reduce overhead costs, improve operational efficiency, and focus on core business functions by effectively managing non-core activities. Also, our GST compliance management is designed to streamline and simplify the complex processes associated with Goods and Services Tax (GST) compliance.

With its comprehensive features and intuitive interface, businesses can gain better control over their operations and ensure compliance with GST regulations.

To know more about SkyERP GST PLUS and book a free Demo please get in touch at sales@everexinfotech.com or call +91 81 0434 5257 Visit us at https://everexinfotech.com

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