TYASuite - Cloud ERP Solutions

  In this fast-paced world, businesses around the globe are working tirelessly to make ends meet. While doing so they work and handle several suppliers at once. The business environment becomes complex for a person to handle all the processes manually, to overcome this problem a vendor management software is the best solution available in the market. As the business grows, these vendors are not merely people who provide goods, services, or platforms to companies but also become a partner, in the long run, to achieve success simultaneously. A cloud ERP Vendor Management Tool helps in easy onboarding of suppliers, performance tracking through vendor tracking tool feature, timely payments through accounts payable automation software, contract management, risk management, and strong relationship bonds. There are many features and benefits of Vendor management software which can help you to enhance your business processes with higher productivity to yield fruitful results. Features of V...

While stepping up the success ladder in the corporate world, one of the biggest challenge which any business face is related to inventory. With a surge in the demand for goods, there has been a tough competition among organizations to sell more and more types of items. Every company tends to increase the number of products they sell which at times creates hodgepodge due to mishandling of operations at such a large scale. Due to mis-management Inventory gets slow-moving, spoiled, overstocked etc. To cater to these problems an inventory management software is the best solution. It has many features and benefits which prove to yield fruitful results for a company. Some of them are- Features of Inventory Management 1. Catalogue Creation Often a company deals within a range of products and services and managing them all at once is a tedious task. To overcome this, an inventory management system provides the feature of creating catalogues. This eases the process of searching for a specific i...

  When the market is flooded with a lot of solutions for businesses of all shapes and sizes, it becomes challenging for CIOs to zero in on the best ERP Software for consistent and robust management of its resources and operations. The decision to choose the best ERP software for your business is a task no less difficult than finding the right partner for marriage. Whether you are the CIO of a big enterprise or the managing director of a growing small or mid-sized business (SMB), there is no scope to err in zeroing in on the best ERP software for your business. The stakes are high and the implications of any wrong move are hazardous to the overall health of the business. We have seen many businesses have lost years of time and money before they could realize that they have selected the wrong ERP. Hence, it is best to be prudent while making ERP selection. Here are a few suggestions that can help you to navigate your way towards selecting the best ERP software from the multitude of o...

  Automation has become a key buzz world these days. Cloud is new normal in digital world. A lot of businesses are getting more involved in automating their process through business process standardization and implementing cloud ERP. Here, we have described a list of frequently asked questions / FAQs in implementing ERP software. 1. What is ERP Software? ERP or Enterprise Resources Planning software originated from the term Material Resource Planning (MRP) and later on became Manufacturing Resource Planning (MRP II) during the 80s. In the starting, the intrigue generally is from the manufacturing and distribution parts. During the 90s, different sellers have stretched out MRP to bookkeeping, Human Resources (HR), and different capacities that advanced to the term ERP which is an enterprise-based solution in automating a business. The sample list of modules provided in ERP is  procurement software , warehousing, inventory management ERP, general ledger, accounts payable, accoun...

The compliance management software has paved the way for an integrated approach to the numerous compliance issues faced by any organization. Previously, the compliance management processes were done at department levels. With the industries going worldwide and user groups spread globally, these compliance initiatives have become complicated with regulatory and organizational needs. This system brings down the productivity of the business and poses a broad risk to its existence. Let us look at the various advantage of a Compliance Management Software Compliance officials waste their time browsing for data to ensure organizational compliance. Compliance management software can automate the tedious processes of data collection, transmission, communication, knowledge sharing, decision-making, and monitoring changes in compliance regulations and integrating it into the entire system. Here’s a list of why businesses require to invest in and utilize compliance management software: 1. Decrease...

  Due to ever changing due dates of GSTR 3B return fillings and relaxations given by the government from payments of GST liability and interest there upon, there is always a confusion on how to calculate the interest on GST Liability. Interest on GST on Net Tax liability The key question to answer is “whether the interest should be charged on the Gross Liability or the Net Tax Liability if the GSTR 3B is not filed on time”. The provision of interest on late payment of GST liability is enumerated in section 50(1) of CGST Act, 2017. The provision is reproduced hereunder for convenient reading. As per Section 50(1) of the Act: “Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall, for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent, as may ...

  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 ...