TYASuite - Cloud ERP Solutions

  Indian Business has to comply with gratuity regulations. On the top of   payment of  Gratuity Act ,  1972, there are specific regulations enforced at state level in India.  Example, certain states mandates creation of gratuity trust or subscribing to recognized gratuity trust fund plan. Now let us look at various accounting and compliances aspects of the gratuity trust in India. A. Formation of Gratuity Trust Gratuity  trust must be set up as an irrevocable trust Gratuity  trust must be set up for providing gratuity benefits to the employees trust to act as a separate legal entity. Employer can appoint trustees for monitoring and administration of the fund The trust must get an approval from under the Income Tax Act, 1961 to be recognized as approved gratuity trust. Trustees can chose to manage the fund as per by laws of the trust. Common practice is to enter into a master policy with the insurance company to provide death-cum-retirement benefits to the employees. All the monies cont

There is a rising need for businesses to implement compliance management solutions and many are struggling with the task of migrating from paper, memory, and excel- based techniques that are now outdated. Compliance Management Software becomes the need of the hour if you have multi-locations or multiple legal entities to manage. For organizations to demonstrate compliance in a creative, efficient, and cost-effective way, compliance management software can be a true difference-maker. Today, we’ll be taking a glimpse at what a compliance management software is and 6 ways it helps businesses efficiently manage and execute regulations. What Is Compliance Management Solution? As the name suggests, a compliance management solution is an all-encompassing program that assists managers and administrators reduce risks and plans, track, monitor, and manage activities that ensure compliance along with binding regulatory norms as well as legal requirements related to the environment, health, and sa

  Cloud ERP software has been progressively picking up traction among organizations, inferable from its concentrated way to deal with business processes. With the help of a Good Cloud ERP, you can gather, store, manage, and decipher information from numerous business units on a real-time basis. Moreover, ERP solutions are utilized to automate back-office activities and smooth out cross-departmental work processes. Here in this post, we will be discussing the essential benefits, features, and workflows of Cloud ERP software. List of Contents 1. Why Use Cloud ERP Software? 2. Business Software in ERP A.  Sales Software (CRM) B.  Marketing Software C.  ERP Distribution Software D.  Business intelligence Software 3. Finance related Software in ERP A. Procurement Software B. Costing in ERP C. ERP payroll Software D. Finance and accounts Software 4. Human Resource Software A. Recruitment Software B. Workforce Management Software C. Payroll processing Software D. Performance Management Softwa

  Ever since the idea of e-invoicing was authorized by the GST council, the rumor around e-invoicing has gained dignity among businesses all over the world. Invoice is a key document and e-invoice is basically a reform associated with it. It is very essential for businesses to comprehend it fully and therefore prepare for it. In this blog post, let’s understand everything about GST e-invoice in detail. What is GST e-invoicing? E-Invoice also called ‘Electronic invoice’ that is amethod in which all B2B invoices are electronically uploaded and validated by the established portal. Post successful validation, a unique Invoice Reference Number (IRN) is induced for every invoice by IRP. With IRN, every invoice is digitally approved, signed, and added along with QR code. This procedure is collectively known as  e-invoicing in GST . What are the advantages of e-Invoice Digitalization? Standard reporting and no Duplication Auto-Generation of GST Return E-way Bill No Reconciliation Real-Time Cur

  While talking about the Procurement software, it can be categorized as one of three sections. There are ERP (enterprise resource planning) systems, which are perplexing systems intended to help organizations manages everything in the supply chain. Next, there is accounting software that individuals use to monitor POs, giving up a far-reaching procurement suite for all-in-one convenience. Lastly, there is purchase order-explicit software. Procurement software varies about functionality, pricing, and technology. The right solution helps businesses to manage budgets, diminish costs, and increase transparency in the spending process and approvals. The main goal of procurement solutions is to handle and ease all communication between the stakeholders, such as buyer, originator, category manager, vendor, approver, supplier, and receiver, at each transactional stage. Basic Features of Procurement Software Procurement software can transform a well-researched sourcing procedure into effective