Education Session

What is bills of material (BOM) ? The bills of material is a particular list of all heads that have been used for making a end product for the users. This may include components, raw material and goods etc. The elements of a final product and cost incurred on making may called as bill of materials. There are various types of expenses and cost which is usually paid on complete production of a product afterwards it send for sale. These all expenses, components, cost etc. must be recorded. Let's understand with example and by using telly ERP 9 : Bills of material example: ISD company purchase following material or components from xyz ltd for production of CPU units: Additional cost including: Labor charges 600. The company sold CPU to a debtor after making the final product. Pass the necessary entries. Solution : Step by step process for bills of material : Step 1: create a new company or choose your existing company (alt + F3). Step 2: Press F11 for company f

Implementation of cost center in telly ERP 9. What is cost center? In telly ERP 9 , cost center is used to allocate different cost and expenses incurred during in transaction. It helps to clarify different center where cost is exhausted. this feature allow to maintain proper record of multiple expense in one place. What is cost categories What is cost categories? Cost categories is use to simplify or categories different cost center in a particular head. Let's understand this concept with the help of given below examples: 1.  Paid on purchase of  office stationary for 10000.      A4 colour paper.       4000      Black markers.            500      Registers.                    2000      Other stationary.       3500 Pass the necessary entry for the payment of the above expenses. Let's see how to create cost center and categories in telly ERP 9. Step 1: Create a new company or choose your existing company by pressing alt +F3. Step 2:  Press F11 key

Interest calculation Interest is amount or rate which is charged on a principal amount borrowed by a person for a given period of time. The interest also known as the extra amount payable on the basis of installments. The interest is usually payable on loans, bank loan, loan from creditors, interest on savings account etc. Interest calculation on loan is calculated by taking the principal amount taken and how long it will going to use. Then the rate of interest is decided. Types of interest We have generally two types of interest given below: 1. Simple interest : It is interest basically charge on principal amount borrowed. The amount of interest is set on the amount of loan taken. 2. Compound interest : It is a interest which calculate on both principal amount and also compounding interest which is to be paid on loan or amount taken. Interest calculation in telly ERP 9 In telly ERP 9, we can easily calculate interest on various situations such as interest calc

Why IT skills are most in demand As we know the information technology is rapidly growing in our almost life, day to day operations etc. Now, in new generation we wanted to reduce are time in doing paper work instead we want to make digital form of operations in every where. The IT skills can provide knowledge about how to make better opportunity to excel of business as well as our daily working load. There are various kinds of information technology skills which is very important and demanding in future. These provide a great impression in your C.V  and also your personal world. There are top five IT skills in demand so it can help to maintain business as also your job career in future: 1.Digital marketing The digital world growing unanimously in all over. Digital marketing is most in-demand  skill for the future.Now marketers trying to grab this opportunity to use digital platform for marketing. Digital marketing means gathering huge number of people in one place and

What is budget in an organisation A budget is a plan or eatimation for the flow of funds in an organisation. It contains financial guidelines and principals for the future plan of action for the specific or selected period of time. A  budget and budgetary control in business organizations is maintained for getting actual estimated value of money which would be gathered from taking all revenue and expenditure of an organisation. By making budget we assume the future probability to generate profit as well as budget control in project management etc. Need of the budget in an organisation. A budget help us to define goals and future plan for enabling good wealth of a business. Generally, the need of budget and control in organisation is maintaining proper use of resources that are given and use of funds efficiently. It provides a accurate information for evaluation of financial activities or transaction, aids in decision making and facilitate a reference for future plans.

What is debit note and credit note  Debit note and credit note are the documents that are issued to party stating we are debiting or crediting your account. When it says debiting the account it means the party must to be pay the amount to the giver of the debit note. It generally happen transaction such as purchase return, other expenses incurred by you on behalf of the company or business. when talking the credit notes the business might give credit notes to party for not adequate transaction. It generally happen transaction such as sales return etc.  Why debit note and credit note required These documents are required for making complete transaction with the party involved. Debit note and credit note in telly ERP 9 are very simplistic as possible for user. When purchasing goods from the party it may be damage and defected in this case the involved party will get debit note invoice for the purpose of  returning the goods which are damaged. Credit note would be provided t