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Ensuring Compliance and Efficiency for Your Business

1. Security

Needless to say, in today’s digital business security is one of the most significant assurances. Secure software will protect classified business information and avoid any sort of agreement that may pose a threat to your business. You need to assure that the best GST software you buy is robust not only in return filing but also from the data protection point of view as well.

2. Multi-Platform Adaptability

Under the new government, every business has to be compliant—there is little choice of a choice. The concept of invoice matching has been included which will assure that every taxable self in the value chain files his/her billing GST software on time. This will directly influence the compliance rating of businesses. Thus, to keep up with these compliance demands the GST software your purchase should be allowed on varied platforms and must be accessible from desktop, tablets or mobile phones at any point in time, increasing the ease of doing online return filing.

3. Flexibility

Many large companies are already using one version of an Enterprise Resource Planning (ERP) Software to manage their business transactions and record or report processes. Even small and medium businesses for that matter have accounting mechanisms for book-keeping. In such an environment, setting up new master data in a new application (GST online Software) is not a probable option. The GST software provider must be flexible enough to blend with existing systems and present a seamless experience.

4. Cognizance

Under the GST regime, a normal taxpayer listed in one state will have to record twenty-five returns during a financial period. If we look into the dynamics of today’s companies, most brands are pan-India or have a global client base. Taking the example of a single online seller who works all over the country, we see that he may have to record 25*29 (29 states) = 725 returns in a single year. That is an average of almost two times a day! Well, this is why any free GST software that you decide must have the intelligence to communicate the user of all possible developments coming.

5. User Interface and Reporting

Having considered all the features above, one key feature which is universally appreciated is a user-friendly user interface. For any typical business character, this means informational dashboards and Informative Reports (MIS). This will enable prompt decision making and manifest operations. Real-time information may assist you to avoid over/under stocking and may save on operation capital. Also, for many businesses, an evaluation criterion for new software is the number of clicks to perform a critical task. A Best GST software must accommodate such requirements as well and as run on a minimum user interface principle.

Such software that takes care of the requirements is SkyERP GST Plus.

Core Modules and Compliance Features

Inventory Control

Inventory Control for RM/SF/CG/FG

Lotwise and Batchwise Inventory Control

Location wise Inventory Control

Check for negative stock

Order Management

Material Requisition slip – for purchase/Procurement

Inquiry letter/email to vendors

Quotation Receipt from vendors with all terms and conditions

Comparison Statement of Quotation received from vendors

Purchase order – to vendor

Goods receipt note (GRN) – When material received from the vendor

Job Work

JW with adding of material

JW without adding of material

Bill of Material (BOM) for JW

Inventory Management

Job work billing (Monthly/Periodical)

GST Compliance for job work

GST Compliance and Consultant

GSP (GST Suvidha Provider)

Intra state – CGST Compliance

Intra state – SGST Compliance

Inter State – IGST Compliance

Input/Output tax credit under GST

What is GST Suvidha Provider?

Sky ERP GST Plus is a powerful and feature-rich Web-based software solution that has been specifically designed to help businesses gain better control over their operations while ensuring full compliance with GST regulations. The software is built on four key modules: Inventory Management, Job Work, Order Processing, and Document Management.

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, Sky ERP 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.

In the rapidly evolving landscape of the manufacturing industry, fabrication and forging companies face numerous challenges in managing their operations efficiently. One crucial aspect of their business operations is the effective handling of Goods and Services Tax (GST). Running a manufacturing company poses significant challenges, given the uncertainties associated with factors such as raw material prices, market demand, and supply chains. Effectively addressing each of these variables to shield your business from potential profit impacts can be a daunting task.

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 software SKY ERP GST PLUS – GST & 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, SKY ERP 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.

SKY ERP GST Plus’s 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 SKY ERP 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 SKY ERP 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.