Payroll technique with tally training in Chandigarh.

Payroll :- Illustrating on Payroll technique of tally training in Chandigarh.

Tally ERP9’s Payroll is fully integrated with accounting to provide users the benefits of simplified payroll processing and accounting. Payroll enables users to set up, implemented and process payroll with simple to complex criteria, as per the organization requirements. The per-defined processes available in Tally ERP9 helps in automating payroll processing without any errors.Students who are willing to grow their career in accounting field can join Tally Training in Chandigarh.

 

 

 

 

 

 

 

 

Features of Payroll:

Following are the some features of payroll which we are going to learn with tally training in Chandigarh.

The key features of the payroll ( Tally.ERP 9) are as follows:

• It is fully integrated with accounts to give the benefits of simplify payroll processing and accounting
• It has user-defined classifications and subclassifications for comprehensive reports. This may be related to employees, employee groups,  departments etc.
• It provides the facilities to create user-defined Earnings and Deductions Pay Heads
• It allows flexible and user-definable criteria for simple or complex calculations.
• It allows unlimited grouping of Payroll Masters.
• It supports user defined production units.
• It provides a flexible payroll processing period.
• It provides complete cost centre as well as employee-wise costing reports.
• It ensures an accurate and timely Salary processing, Employee Statutory Deductions and Employer Statutory Contributions with the help of predefined processes
• It provides auto-fill facility to promote the Attendance, Payroll & Employer's Contribution processes.
• It facilitates an accurate estimation and deduction of Income Tax, ESI, EPF, NPS, Professional Tax, Gratuity etc.
• It helps in the generation of Statutory forms and challans for Income Tax, EPF & ESI, as advice.
•  It facilitates computation of arrears pertaining to prior period.
•  It helps in tracking employee loan details.
• Students who are willing to learn accounting can join Tally training in Chandigarh

Five easy steps to Generate a payslip of Tally Training in Chandigarh

The new enhance payroll in Tally.ERP 9 requires minimal effort for accurate slary processing. It takes five easy steps to process payroll. Steps are:-

1. Create Employee Master.
2. Create Payroll Master
3. Create pay Heads
4. Create salary Details
5. Process Payroll and generate pay slip

Motives of Holding inventories

Motives of Holding inventories : Tally Training in Chandigarh

Today we will discuss about motives of holding inventories with Tally Training in Chandigarh

The motives of holding inventories are as follows:

1. Inventories Motives : Every firm has to maintain some level of inventory to meet the day to day requirements of sales, production process, customer demand etc. This motive makes the firm to keep the inventory of finished goods as well as raw materials. The inventory level will provide smoothness to the operations of the firm. A business firm exists for business transactions which require stocks of goods and raw materials.
2. Precautionary Motive: A firm should keep some inventory for unforeseen circumstances also. For Example, the fresh supply of raw material Could not able to reach the factory because of strike by the transporters or due to natural calamities in a particular area. There may be labour problem in the factory and the production process may halt. So, the firm must have inventories of raw materials as well as finished goods for meeting such emergencies.
3. Speculative Motive: The firm may be tempted to keep some inventory in order to capitalize an opportunity to make profit e,g, sufficient level of inventory may help the firm to earn extra profit in case of expected shortage in the market.

Types of Inventory

There are various types of inventory which are as follows :

1. Movement Inventories: Movement Inventories are also called transit or  pipeline inventories. Their existence owes to the fact that transportation time is provided in transferring sustainable amounts of resources. For example : when coal is transported from the coalfields to an industrial town by trains, then the coal, while in the transit, cannot provide any service to the customers for power generation or for burning in furnaces.
2. Buffer inventories : Buffer inventories are held to protect against the uncertainties of demand and supply. An organization basically known about the average demand for different items which is indeed. However, the actual demand may not exactly match the average and could well exceed it.Similarly, the average delivery time ( That is, the time elapsing between placing an order and  In Buffer inventories are having the goods which is in stock that is ready for use, and technically called as the lead time) may be known. But unpredictable event could cause the actual delivery time to be more than the average during the time for which the delivery is delayed. These inventories which are in excess of those necessary just to meet the average demand ( during the average lead time period), held for protecting against the fluctuations in demand and lead-time are known also by the term safety stocks.
3. Anticipation Inventories: Anticipation Inventories are held for the reason that a future demand. For the product is anticipated production of specialized times like crackers well before Diwali, umbrellas and raincoats before rains set in, Fans while summers are approaching, Or we can say pilling up of inventory stocks when a strile is on the anvil are all examples of anticipation inventories.
4. Decoupling inventories : The idea of the decoupling inventories is to decouple, disengage, differents parts of production system. As we observe easily, different machines/ equipment and people normally work at different rates: some slower and some faster. A machine, for example,might be producing half the output

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