DotEx Saranya (Tally / greytHR) on LinkedIn: To process Seamless Accounts , E-Invoice, E-way bill, Stock management… (2024)

Looking to boost efficiency? Here's how 👇🛠With functionalities such as:➡requesting and receipting stock from third party suppliers, ➡revaluing stock holding and ➡automatic allocation at the time of sale, ➡including all accounting journals, you're guaranteed efficiencyImprove productivity today: https://lnkd.in/gmhW4NX3#ConsignmentStock #InventoryManagement

Stock ControlIt's strange how this topic has affected my life this week. Once as a consumer and once during my work.Both events have caused negative stock.Work based case:• A customer has been invoiced 1 product Y but it should have been product X. Let's use:Selling price is £500 on invoice.Cost for X of £200 Cost for Y of £2000• The invoice pulls 1 product Y out of stock (credit entry of £2000 to balance sheet stock), and charges cost of sales £2000.• The purchase of the item records £200 to balance sheet stock for product X and puts 1 into stock.• The accounts are incorrect as I now have a stock value of:+ 1 product X £200 - 1 product Y -£2000 A net stock value of £1800 when it should be nil. 🙈• The profit report is also incorrect.Sales £500 Cost of £2000 Gross margin -£1500. It should be +£300 (£500 less £200)• One hundred errors like this over the year could mis-state the results by £180k. (assuming 100x£1800).Resulting in:• Your balance sheet value overstated by £180k• Your profit report showing a loss instead of a profit. 🙈😱 Important decisions could be made using the wrong information:• Sale price of the business• Closure• Redundancies• Not accepting a new opportunity• Reduction in credit status• Unexpected tax bill if your accountant adjusts for the issue• No dividends• No extra pension contributions Many of our clients are serviced based and don't carry stock. I have a couple that do and my industry experience means I can identify the cause of the problem, advise how to fix it, and how to prevent it reocurring.Having an accurate balance sheet is vital for so many reasons. As a small business owner, you need to understand your balance sheet and get the right help if you don't have it inhouse.Read part 2 in the comments about how Amazon could do with some help on stock control!We take on about 6 new clients each year. Its restricted so we can look after existing clients. Connect with me if you want to start a conversation (include a message to get passed my gatekeeper rules though 🤣).

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YEAR END STOCK COUNT REMINDER📢 Attention accountants! 🧮 It's that time of the year when we need to buckle up and gear up for the end of year stock count. 📈 As we wrap up 2023, let's not forget the invaluable significance of conducting an accurate stock count. Here's a friendly reminder 🗓️ to keep us on track:📌 Accuracy and Compliance: Conducting a thorough end of year stock count ensures the accuracy of financial statements, compliance with regulations, and promotes transparency within our organization. Let's dot our i's and cross our t's to maintain utmost integrity.📌 Financial Insights: Ever wonder how well our assets align with our records? Performing a meticulous stock count helps us gain valuable insights into inventory levels, identifying any discrepancies or potential adjustments, allowing for informed decision-making in the upcoming year.📌 Cost Control: A comprehensive stock count allows us to assess inventory control measures, minimize wastage, and streamline our procurement process. By identifying obsolete or slow-moving items, we can optimize resources and enhance cost efficiency.📌 Auditing Preparedness: A well-executed stock count fosters smooth audits, as external auditors heavily rely on accurate inventory records. By being proactive in this area, we demonstrate professionalism, preparedness, and ensure a seamless audit process.📌 Year-End Reporting: As we approach the end of the year, reliable stock count figures play a pivotal role in generating comprehensive financial reports and key performance indicators. Let's aim to provide our stakeholders with accurate, timely, and transparent information.Let's make our end-of-year stock count a success! 💼

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Document XML based on the EN 16931-1:2017 standard: After connecting to the administration, in the MARK column we see next to the XML of the document the icon with the mark of the European Union. If we click, we download the XML of the document based on the standard EN 16931-1:2017- Electronic Invoicing. Example https://lnkd.in/dsqCT__Y #retailpos #inventory #invoicing

Important: Document XML based on the EN 16931-1:2017 standard: After connecting to the administration, in the MARK column we see next to the XML of the document the icon with the mark of the European Union. If we click, we download the XML of the document based on the standard EN 16931-1:2017- Electronic Invoicing. Example https://lnkd.in/dsqCT__Y #retailpos #inventory #invoicing

Usefull: Document XML based on the EN 16931-1:2017 standard: After connecting to the administration, in the MARK column we see next to the XML of the document the icon with the mark of the European Union. If we click, we download the XML of the document based on the standard EN 16931-1:2017- Electronic Invoicing. Example https://lnkd.in/dsqCT__Y #retailpos #inventory #invoicing

Supply Chain Finance is truly an efficient tool to make your supply chain more efficient.

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Did you know that out-of-the-box you cannot add charges to a #D365FO Transfer Order? However the Landed cost module allows you to quickly and easily add a transfer order to a voyage and then the Invoice can be applied to the voyage, which then applies the cost to the inventory!

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Unpaid invoices slow #CashFlow and reduce inventory turnover. This can harm a company’s credit ratings and reputation! If an invoice remains unpaid for 60 days, you can consider it has become a #BadDebt. Learn how to recover unpaid invoices here: http://ow.ly/bLKt104IZ2h

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