Employee Process. For me, employees are very experienced. For example, I have 3-4 employees who have been with me for 15-18 years. In fact, they have been with the company longer than I have. To hire new employees, it is not a complicated process. We don't require a resume. Instead, we inform our employees about specific requirements, such as needing an accountant or someone for sales, and then we find suitable candidates locally. For example, for the position of Accountant, my requirement is basic knowledge of Tally. They don't need to be experts at a professional level. They should have a basic understanding of the terms, and we will help them learn further in 2-4-6 months, depending on our needs.
I don't give money at the starting level, at the initial level, but after some time I do. Everyone's PF is also deducted. We track salary and other things related to staff in Tally software. No, Tally has almost all the features I need. Like PF account, if someone is receiving any advance, everything is there. I have a CA. At the end of the year, the entire employee-wise entry is done. It is done by the CA. We don't calculate holidays properly because we keep them flexible. We try to be strict from our side, but we won't enforce it if they have a proper reason, like not feeling well or anything. Then there is no problem.
I don't remember a major fight with the vendor, but if it happens, I try to solve it. If it doesn't happen, then it remains the same. You have to bear the loss of goods and payment during conflicts. You have to. If I give you a big example, many times, the thing I told them about and the thing I ordered, if they put something wrong, and the vendor doesn't accept it, saying that they won't take a return, then you have to bear it. I keep the record of vendors in Tally only, also for the customers.
In Tally, there is an entry on a daily basis for payments and sales. I have just made a payment. Let's see one or two examples. This is my daily entry. Today is 21st September. There are two entries for today. This is my daily entry. This is the entry for 19th September. This is the entry for some sales. This is the entry for payment. This is Anand Electrical. For example, this is an entry for a quotation. I gave a quotation to the client on WhatsApp. He told me to collect everyone's quotations for a week. I will keep taking quotations on phone from time to time.
We improve our inventory day by day. We keep track of how much was consumed in the last year. That is also recorded in the same tally. I keep it for myself. Employees give it to me on a daily basis on a regular page. Yes. They give me a list of the quantity they have. It will be completed in a few days. I keep track of it on that basis. We do it on a daily basis. Almost all the staff is involved. Staff sometimes faces difficulties with inventory. If there is an issue with the material and there is no space, will they be able to manage it or will I have to tell them to send it to the warehouse.
If I have a regular customer, then their payment is between 30 to 60 days. And if someone is an exceptional customer and knows me, then they get a little credit. The rest is done on a cash or advance basis. Yes, it's on a cash basis, based on the material and payment. It is completely on my tally. If the rough estimate is normal, then it is made on this. The rest is done on the tally. Because my maximum is fixed. Like GST will be charged. Because whatever material I am getting is coming with the bill. So, the material I am going to get is also on the bill.
Lend to the customer. I do maximum business by loaning the materials. As I told you, DM. Like now, he is making the DM. Okay, that DM will be made. And whatever material has come will go. The DM is the Delivery Memo. I will show you. Material goes on the Delivery Memo. And then I will make the bill later. And then the bill goes. The bill is made in this way. This bill is made. Like Anurag tiles. Its bill has been made. This is the Delivery Memo. And this is the memo. It has a triplicate copy. One copy goes to me. One copy goes when the material goes. And this original copy goes with the bill. So, like this. It has been delivered once on 30th August. So, the bill becomes like this, and then the bill goes to him.
How to determine if this is a loan is also in the system. For example, I will tell you about it. Let me give you an example. This is a letter from the Anurag Tiles party. I will open the ledger for this. These are bills from Anurag Tiles and he has made the payment. So, there is a feature in Tally, F5. If I press F5, then it shows how many days have passed for the bill on that particular day. Yes, it has been entered in it. Once the entire system is set up, Tally automatically provides all the data continuously. I check if the money has been received or not through net banking. So, my first task is to check the entry of the payment that was received yesterday. And on the same day, the same entry is in Tally. Once it is confirmed, then it is the same.
For the accounting system, if I come across anything like this, and if there is any additional new software or something that makes it easier, then I switch to that. But as of now, I don't have any problems with Tally. If there is any issue, Tally solves it for me. I have done training in Tally.
WhatsApp Web's best feature is that it allows you to use WhatsApp on your PC, which makes it very convenient. Other features are also available, but WhatsApp Web is particularly handy because it is connected to your mobile device. You can send messages through your mobile device as well. If the option is available, I would prioritize using WhatsApp Web. However, if the option of using Tally is also available, I would choose Tally as my first preference.
When my father was in business, everything was done in writing and bills were not that common. The business was simple. For example, instead of using a hand-drawn picture, we now create it on the computer. We use Tally to generate instant bills, whereas before it used to take time to make a bill. It has become much easier now. Previously, we had to do data entry of the bills in the computer due to VAT (value added tax). But now, with these technological systems, everything has become faster. I don't have to do anything. I just have to look at it from here and we can upload it to the GST portal from here.
My laptop has inventory that I manage and use for billing purposes. I have a printer connected to my laptop specifically for billing. I create bills for the items purchased by customers. This helps me keep track of the total sales made in a month and allows me to calculate our profit and loss. I use Tally software to manage this process. It provides information on our best-selling product and the remaining stock. Instead of checking the stock physically at the shop, I can view all the details on my computer. If the stock is low, I can easily place an order for more. It's important to note that customer data is not stored on my laptop. I have other ways to know about the customers. However, I primarily use this software for creating bills. When I create a manual bill, I need to calculate a 9% tax. But with the Tally software, it automatically calculates the tax for me. All I have to do is enter the customer's name, select the products, and the software will display the price. Then, I can simply print the bill.
Everything is maintained on the Tally prime software. It also maintains GST details. With one click, I would know my GST amount. It is a paperless work. Otherwise I will have to keep a bundle of papers. I purchase Tally recently in 2020. Earlier I used to have manual bills because I didn’t have high sales before. When my sales increased then I spent on these things, I didn’t have any staff earlier but now I have it.
There is a huge difference when it comes to making manual bills and using technology. One is you are saving on time. You get real data immediately about your stock. If you do manual entries, you would not know about inventory in the godowns. But here on Tally with one click I would have real time data. I would know what products I need to order. It also has payment option, I have linked it directly with my bank. Customers can also make payments online. It has many benefits. It saves time. If you do manual entry and turn on so many pages, it’s a hassle. However, in Tally, I would immediately know which product sold the most or which is not selling or which product is getting old and not sold or fast moving products. It will show your entire business activity.
Tally was recommended to me by a friend in the same business. I also tried another company called Marg, which was simpler but had fewer features. Tally provides detailed account information, although I am not fully knowledgeable about this software. It has everything and requires minimal effort on my part. Once I gain the necessary knowledge, I won't need to do anything. Tally can generate balance sheets, unlike Marg, and also provides profit and loss statements. In Tally, you can even generate profit and loss statements for individual parties, such as customers or small retailers. It shows how much the retailer has purchased from us and how much business we have done with them. It also provides the entire profit and loss statement for that specific party for a year. Technology is indeed beneficial.
I paid an annual amount of 17000rs as a one-time payment. This amount includes customer service and technical support. If I don't pay for customer support, they will not assist me with any issues related to the software. In case of any problems, they can trace the entire system using the IP address and resolve the issue. If I need help with updating stocks, I can call them and they will provide an Anydesk ID to assist me. Although there is a mobile app available, I haven't used it much due to my limited knowledge.
I can see everything in tally software. I have a day book for recording. I enter everything like 18/9, 19/9. I received 12100/ on September 18th, 19000/ on September 19th. So I keep records for each day. I received 25000/ on the 13th, so I maintain every record and also maintain it online. It goes to my account. Yes, I record them online. I have another ledger on the Khata book app. I make entries there. If any customer has taken something on credit, I will also maintain that. Once the payment is made, I will also maintain that record. Someone has paid 3750rs. It is shown here. The collection was 3750rs. I haven't settled it yet, once I do that, it will go into my account. It is showing 3750. You can also check for yesterday. It is 4380/.
I don't get confused with these transactions because I remember them. The online payment will go into your account. I will add up the amount paid online and in cash. Online payments will go into my account. That's correct, I will spend one hour in the evening to combine my transactions in Tally.