Blog

Image Description
  • e-Invoicing
    vaibhav
    Know everything about e-Invoice: The CBIC (Central Board of Indirect Taxes and Customs) has issued a notification that e-Invoicing is to be mandatorily accepted by all companies or suppliers with a turnover exceeding Rs 500 crore. Before the limit for preparing e-Invoice was 100 Crores. This new change in a system or law is the gateway for the digitization of business processes in India. The provisions will come into effect from 1st October 2020. The CBIC has modified the e-Invoice format by adding in 20 new fields and removing 13 pre-existing ones. Also, few alterations have been made to the character length in certain fields. What is e-Invoicing or Electronic-invoicing? Electronic invoicing (e-Invoicing) is the exchange of the electronically generated bills document between a supplier and a buyer and validated by the government tax portal. An e-Invoicing is the transaction processing system where B2B invoices are digitally prepared in an e-Invoicing format and authenticated by the GSTN. This system ensures that a common format is followed by all businesses before reporting invoices to the GST portal. What are the documents covered for e-Invoicing? The taxpayers need to be reported the following documents to the government under e-Invoicing regulation: Invoice by
  • vaibhav
    Today, construction industry has become more challenging and competitive. All the construction firm are in the search for any mean to boost productivity, accomplish integration and stain competitiveness. Enterprise Resource Planning (ERP) system is an Information Technology (IT) business solution that enables construction companies and their contractors to manage capital projects effectively and efficiently throughout the project lifecycle. Enterprise Resource Planning can allow companies to enhance their business processes and allows for necessary management. That’s why ERP can be said as business management system software that can integrate numeral activities in a project & deliver a simultaneous result for bettering performance, reduce cost, and increase profits. A construction ERP software provides cost optimization, incorporate design changes, consistent quality conformance, Reliable, Faster and on time delivery, incorporates value engineering, Collaborative work environment, team tracking facility. When evaluating your potential solution, you will need to understand how the functions will integrate and benefit you but there are 3 core elements that you must ensure are provided. Features for Construction Management: Procurement and controls Accounting Specialized Cost Ledgers Payroll and Labor Costing Plant and Equipment Costing Contract Cost Reporting Business Intelligence Document Management Time and Attendance Systems Human Resource Management Enterprise Accounting Top 3 key
  • TDS Rates Reduction by 25%
    vaibhav
    The Central Board of Direct Taxes has reduced the rate of Tax Deducted at Source (TDS) by 25%. This is applicable from 15 May 2020 to 31 March 2021 to provide more funds in the hands of businesses and individuals during the COVID-19 pandemic. Read More. To simplify this for you, Nway ERP automatically creates some reduced tax rates and lets you apply them to relevant transactions.
  • Construction Gantt chart
    vaibhav
    CPM (Construction Project Management) is the activity of managing construction projects. But when it comes to managing a construction project in contrast to other types of projects, the distinction is mostly that construction is target-based and managing resources over the life cycle. Apply various tools and methodologies to control scope, cost, time, quality, etc. CPM (Construction Project Management) required for a simple home building to a large complex bridge construction, from engineering a dam build to a road project. Contractor manage the complete process cycle of a project build, often managing on-site to ensure the safe, successful construction. Different process in Construction Construction Project Management Tools You need the right tool to manage construction Project successful. Nway ERP provides construction project planning, estimating, scheduling, vendor management, procurement & cost management in construction projects and tons of feature to work more effectively & efficiently. When you work with interactive construction ERP solution like NwayERP.com construction project management become much easier. It provides you with the platform on with you can collaborate and provide a platform to your team and tracking process become easier. NWAYERP has a construction management solution that has following features. Cloud Based Gantt Chart BOQ Material Consumed Daily