- FACT Software Group
What's New: Version 6.0.09
Release Date : 30 June 2020 1.New Web Cockpit : The Journey Begins (New)Presenting the New Web Cockpit: a completely new look, better, faster, more stunning than ever before! Glide through Financials, Sales, Purchases, Cash/Bank, Family Wealth Guru, CRM, Inventory, Manufacturing and many more. Get a real time view from your Web Browser and make informed decisions with real-time reports. Drill down to the transaction at the click of a button. Here is a small glimpse:
Sales
Sale Invoices
Outstanding Sale Orders
Sales Invoice Adjustments
Uninvoiced Sale Delivery Orders (D/Os)
Open Proforma Invoices / Quotations
Project Profitability
Overdue Sale Invoices
Customer Receipt Analysis
Sale Invoices Vs Receipts
Outstanding Sale Invoices
Salesman Commission - Collection Wise
Sale Orders to be Delivered
Profitability
Purchase
Outstanding Purchase Invoices
Outstanding Purchase Orders
Purchase Invoice Adjustment
Uninvoiced Purchase Delivery Orders (GRNs)
Outstanding Indents / Requisitions
Purchase Invoices
Overdue Purchase Invoices
Purchase Orders to be Received
Cash/Bank
Bank Reconciliation
Cash / Bank Books
Cash Flow Projection
Family Wealth Guru
Long Term Capital Gains (LTCG) / Short Term Capital Gains (STCG)
Stock Chart
Asset Allocation
Monthly Performance
Mark To Market
Top N Asset Allocation
Watch List
CRM
Funnel Stage
Inventory
Stock Status
Reorder Status
Negative Stock Report
Batch Wise Stock Ledger
Batch Expiry Status
Product Multi Price List
Fast Moving Products
Slow Moving Products
Warehouse Wise Stock
Service Product Wise Stock Ledger
Serial Number Status Query
Manufacturing
Manufacturing Order Status
Manufacturing Order Scheduled Report
Approvals Pending
Contra Voucher
Voucher
Journal
Proforma Invoice/Quotation
Sale Invoice
Sale D/O
Customer Receipt / Payment
Indent / Requisition
Purchase Order
Purchase D/O (GRN)
Party Journal
Purchase Invoice
Purchase Return
Customer Debit/Credit Note
Vendor Debit/Credit Note
Disposal (Sale) of Assets
Sale Return
Acquisition (Purchase) of Fixed Assets
Vendor Debit Note
Issues
Finished Goods - Received
Stock Adjustment
(Ichiban Payroll Guru/Web Cockpit)2.FACT proudly releases GST E-Invoice in FACT ERP.NG (New)
- Applicable for India Only
Well before the deadline of 01 October 2020, FACT ERP.NG is ready for E-Invoicing! Simply enter the Sale Invoice and at the click of a button, the Sale Invoice is uploaded to the GST Portal and the IRN Number, IRN Acknowledgement Number, Date and QR Code are downloaded from the GST Portal and updated in FACT ERP.NG. Fully automatically!!
No third-party software required. No need to export the Sale Invoice. No need to log into any portal. No delay in shipments.
Simply sign up with the GSP (Vayana Networks) online and enter the User Name and Password in the E-Invoice Configuration Page. You are now ready to go. Reduce your workload and see an immediate increase in productivity.
E-Invoice Configuration
Enter following User Credentials direct from Home Screen
User Name
Password
Customer ID
Sale Invoice Terms Mapping
Purchase Invoice Terms Mapping
Product Master
GSTIN’s Invoice Registration Portal (IRP) provided Master List of UOM (Unit of Measurement) now available for mapping in Product Master
Entry - Sale Invoice
New Column in Home Screen shows “Uploaded Arrow” once Sale Invoice has been successfully uploaded on GSTIN Invoice Registration Portal (IRP)
Cancelled Sale Invoice will also be uploaded to GSTN Server
GSTIN Invoice Registration Portal (IRP) generates following:
Invoice Reference Number (IRN)
IRN Acknowledgement Number
IRN Acknowledgement Date
QR Code
Entry - Sale Return
New Column in Home Screen shows “Uploaded Arrow” once Sale Return has been successfully uploaded on GSTIN Invoice Registration Portal (IRP)
Entry - Purchase Invoice
New Column in Home Screen shows “Downloaded Arrow” if Purchase Invoice has been successfully downloaded from GSTIN Invoice Registration Portal (IRP) (and automatically imported into FACT ERP.NG)
Entry - Purchase Return
New Column in Home Screen shows “Uploaded Arrow” once Purchase Return has been successfully uploaded on GSTIN Invoice Registration Portal (IRP)
(Masters - Items / Products - Products)
(Accounts Receivable - Sales / Entry / Sale Invoice)
(Accounts Receivable - Sales / Entry / Sale Return)
(Accounts Payable - Purchases / Entry / Purchase Invoice)
(Accounts Payable - Purchases / Entry / Purchase Return)3.Reports - Data Dump Registers (Enhanced)
New Check Box: "Consider Post Dated Cheques" introduced in
(Accounts Payable - Purchases - Reports - Receipts Register Data Dump)
(Accounts Payable - Purchases - Reports - Payments Register Data Dump)
(Accounts Receivable - Sales - Reports - Receipts Register Data Dump)
(Accounts Receivable - Sales - Reports - Payments Register Data Dump)
(General Ledger/Cash/Bank - Reports - General Ledger - General Ledger Data Dump)4.Online Alert - Refreshed Alert (Enhanced)
A cleaner interface
Result will only be shown when an Alert is selected
Numbers are formatted better
5.Inventory Warehousing Reports – Stock Status Query (Enhanced)
New Columns added
Product Subgroup Name
Manufacturer Code
Recommended Quantity
Calculation of Recommended Quantity = Sales Order - (Current Stock + On Purchase Order)
(Inventory Warehousing - Reports - MIS Reports - Stock Status Query)6.Cockpit - Top N Products (Enhanced)
Tooltip available for “NWC”
Following columns introduced when “Show NWC” is checked
Stock In Hand
Weekly Sale
(Cockpit - Snapshot - ATC – Product - Summary)
(Cockpit – Sales – Top N Products – Summary)7.Web Cockpit - Sales Invoice Adjustment (Enhanced)
Sales
Following parameters introduced
From Date & To Date
Detail
Opening
(Ichiban Payroll Guru/Web Cockpit)8.Company (Enhanced)
Existing Users will be automatically tagged when creating a New Company
Auto Tagging of Users will work if
Feature is available from Company - New option
Users should have been Tagged when the data for the Company was backed up
(System - Company)9.Module Search (Enhanced)
Search Module is now yet more powerful
Example: Type "Stock Register" and you will immediately see the list of all Stock Ledger Reports
(Module Search)10.Masters - Report Scheduler (Enhanced)
“Current Week” Pattern is now even more powerful
Example
You need to run a Report on Weekly basis every Thursday
Execution Date: 27 February 2020
Next Execution Date: 5 March 2020
Include Opening Balance option:
Previous Week: 20 February 2020
Current Week: 4 March 2020
Report will run on Thursday, 27 February 2020 and the parameter will be
Include Opening Balance
From Date: 01-01-2019
To Date: Current (04-03-2020) / Previous (20-02-2019)
(Masters – Report Scheduler)11.Warning Message in Product Master (Enhanced)
A Warning Message will be displayed when adding a Product Code in “Inventory” Product Master if it already exists in “Manufacturing” Product Master
A Warning Message will be displayed when adding a Product Code in “Manufacturing” Product Master if it already exists in “Inventory” Product Master
Special Rate Warning Message will be displayed if you activate “Multiple UOM” for a Product which is already tagged to a Special Rate Scheme for any Customer or Vendor
(Masters - Items / Products - Products)
(Manufacturing - Masters - General - Products)12.Kitting for Sale Order (Enhanced)
“Kit” Type Product can now be used in Entry - Sale Order
Create a Product from Manufacturing - Masters - General - Products where Kit Item = “Yes”
Create the “Sale BOM” from Manufacturing - Entry - General - Bill of Materials (BOM)
Select Kit Type Product in Sale Order
(Accounts Receivables - Sales / Entry / Sale Order)13.Kitting for Sale Delivery Order (D/O) (Enhanced)
“Kit” Type Product can now be used in Entry - Sale Delivery Order (D/O)
Create a Product from Manufacturing - Masters - General - Products where Kit Item = “Yes”
Create the “Sale BOM” from Manufacturing - Entry - General - Bill of Materials (BOM)
Select the Kit Type Product in your Sale Delivery Order (D/O)
(Accounts Receivable - Sales - Entry - Sale D/O)14.Document Designer - Sale Order (New)
Following Table is now available under Sale Order - Detail Table
Kit Component Details
(Masters / Document Designs)
(Accounts Receivable - Sales / Document Printing / Sale Order - Printing)15.Document Designer - Sale Delivery Order (D/O) (New)
Following Table is now available under Sale Delivery Order (D/O) - Detail Table
Kit Component Details
(Masters / Document Designs)
(Accounts Receivable - Sales - Document Printing - Sale D/O - Printing)16.Dormant Product Warning Message in Purchase Invoice (Enhanced)
A Warning Message is now displayed when adding a Product Code which has been marked “Dormant” in Masters - Items / Products - Products or in Manufacturing - Masters - General - Products
Message also provides the steps to be taken if you wish to use this “Dormant” Product
(Accounts Payable - Purchases / Entry / Purchase Invoice)17.Special Reports – Cash Payment & Receipt (Enhanced)
New Column introduced
Document Type
(General Ledger / Cash / Bank – Reports - Special Reports - Cash Payment & Receipt) (Auditor's Toolbox - Cash Payment & Receipt)18.Product Tagging in Inventory and Manufacturing Reports Help Window (Enhanced)
New Column in Product Help Window
Status (Active / Dormant)
In Stock (Quantity)
Inventory Warehousing - Reports - Stock Valuation - Product Wise
Inventory Warehousing - Reports - Stock Valuation - Warehouse Wise - On Product
Inventory Warehousing - Reports - Stock Valuation - Warehouse Wise - On Warehouse
Inventory Warehousing - Reports - Stock Valuation - Warehouse Wise - On Batch
Inventory Warehousing - Reports - Stock Valuation - Consider Batch
Manufacturing - Reports - Stock Valuation - Product Wise
Manufacturing - Reports - Stock Valuation - Warehouse Wise - On Product
Manufacturing - Reports - Stock Valuation - Warehouse Wise - On Warehouse
Manufacturing - Reports - Stock Valuation - Warehouse Wise - On Batch
Manufacturing - Reports - Stock Valuation - Consider Batch
Inventory Warehousing - Reports - Stock Ledger - Product Wise - Detail
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Product
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Warehouse
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Batch
Inventory Warehousing - Reports - Stock Ledger - Product Wise - Summary
Manufacturing - Reports - Stock Ledger - Product Wise - Detail
Manufacturing - Reports - Stock Ledger - Product Wise - Summary
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Product
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Warehouse
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Batch
Inventory Warehousing - Reports - Batch Wise Stock Ledger - Product Wise
Manufacturing - Reports - Batch Wise Stock Ledger - Product Wise
19.Refreshed Interface (Enhanced)
Refreshed and Cleaner Interface
Auditor's Toolbox - Sale Invoice Terms Breakup Register
Auditor's Toolbox - Sale Return Terms Breakup Register
Auditor's Toolbox - Purchase Invoice Terms Breakup Register
Auditor's Toolbox - Purchase Return Terms Breakup Register
Statutory - Reports - Sale Invoice Terms Breakup Register
Statutory - Reports - Sale Return Terms Breakup Register
Statutory - Reports - Purchase Invoice Terms Breakup Register
Statutory - Reports - Purchase Return Terms Breakup Register
20.Currency Exposure - AR/AP Documents - Zoom (Enhanced)
Fields which can be Zoomed into will be display in Bold and Enlarged when you mouse over them
(Accounts Receivable - Sales / Reports / MIS Reports / Currency Exposure - AR/AP Documents)21.Auto Journal Voucher (Posting Details) Window (Enhanced)
New Column added for easier understanding
Document Class
(Accounts Receivable - Sales / Entry / Sale Invoice)
(Account Receivable - Sales / Entry / Sale Return)
(Accounts Payable - Purchases / Entry / Purchase Invoice)
(Accounts Payable - Purchases / Entry / Purchase Return)
(Fixed Assets - Entry - Acquisition (Purchase) of Fixed Assets)
(Fixed Assets - Entry - Disposal (Sale) of Assets)
(Fixed Assets - Entry - Sale Return)
22.General Ledger Data Dump (Enhanced)
Parameter Captions renamed for better understanding
'Cash Memo Sale' is now 'Cash Sale'
'Cash Memo Purchase' is now 'Cash Purchase'
'Gain / Loss - Customer / Vendor' is now 'Forex Gain / Loss - Customer / Vendor'
'Debit Note' is now 'Customer / Vendor Debit Note'
'Credit Note' is now 'Customer / Vendor Credit Note'
(General Ledger/Cash/Bank - Reports - General Ledger - General Ledger Data Dump)
(Auditor's Toolbox - General Ledger Data Dump)23.General Ledger Code - User Friendly Interface (Enhanced)
Profit & Loss Groups Help Window displays Income Group and Expenditure Group in different colours for easier identification
(Masters / Chart of Accounts / General Ledger)24.Vendor Receipt / Payment - Auto Cheque Number (Enhanced)
Activate Auto Cheque Number
If ‘Activate Auto Cheque No’ is activated in System Controls - Miscellaneous Tab, then Cheque Number will be generated when copying a Vendor Payment
‘Bank Transaction Reference Number’ has an easy explanation for easier understanding
Now displays: You may enter the Bank’s Transaction Reference Number here if you are making payment via Net Banking. You may leave this blank as well.
(Accounts Payable - Purchases / Entry / Vendor Receipt / Payment)25.Customer Receipt / Payment - Auto Cheque Number (Enhanced)
Activate Auto Cheque Number
If 'Activate Auto Cheque No' is activated in System Controls - Miscellaneous Tab, then Cheque Number will be generated when copying a Customer Payment
(Accounts Receivable - Sales / Entry / Customer Receipt / Payment)26.Refreshed Interface(Enhanced)
Refreshed and Cleaner Interface
Document Relationship now displays
Number of Attachments
Landed Costing Purchase Invoices are now displayed as well, tagged to Master Purchase Invoice
(Entry / Document Relationship)27.File Attachment available in Stock Adjustment (New)
Inventory Warehousing - Entry - Adjustment of Stock - Stock Adjustment now allows File Attachment along with Remarks
(Inventory Warehousing / Entry / Adjustment of Stock / Stock Adjustment)28.Material In / Out - Stock Take - As On (New)
New Report : Stock Take - As On
“As On Date” added
Available Stock will be displayed as per “As On Date”
(Inventory Warehousing - Reports - Material In / Out - Stock Take - As On)29.Double Quantity Window (Enhanced)
Refreshed and Cleaner Interface for Double Quantity Window
Two New Fields added
Product Code
Product Description
Applicable Modules
Accounts Receivable - Sales - Entry - Proforma Invoice / Quotation
Accounts Receivable - Sales - Entry - Sale Order
Accounts Receivable - Sales - Entry - Sale D/O
Accounts Receivable - Sales - Entry - Sale Invoice
Accounts Receivable - Sales - Entry - Sale Return
Accounts Payable - Purchases - Entry - Indent / Requisition
Accounts Payable - Purchases - Entry - Purchase Inward Quotation
Accounts Payable - Purchases - Entry - Purchase Order
Accounts Payable - Purchases - Entry - Purchase D/O (GRN)
Accounts Payable - Purchases - Entry - Purchase Invoice
Accounts Payable - Purchases - Entry - Purchase Return
Accounts Payable - Purchases - Entry - Procurement Wizard
Inventory Warehousing - Entry - Bill of Materials (BOM)
Inventory Warehousing - Entry - Inventory Issues - Manufacturing Orders
Inventory Warehousing - Entry - Inventory Issues - Issues
Inventory Warehousing - Entry - Inventory Issues - Returns
Inventory Warehousing - Entry - Finished Goods - Received
Inventory Warehousing - Entry - Finished Goods - Returned
Inventory Warehousing - Entry - Adjustment of Stock - Stock Adjustment
Inventory Warehousing - Entry - Adjustment of Stock - Stock Conversion
Inventory Warehousing - Entry - Transfer of Stock - Stock Transfer Order
Inventory Warehousing - Entry - Transfer of Stock - Stock Transfer
30.Sale Delivery Order (D/O) with “Kit” Product incorporated (Enhanced)
Applicable Reports
General Ledger/Cash/Bank - Reports - Trial Balance - Group Wise
General Ledger/Cash/Bank - Reports - Trial Balance - Normal Trial Balance
General Ledger/Cash/Bank - Reports - Profit & Loss Account - Profit & Loss - Complete
General Ledger/Cash/Bank - Reports - Profit & Loss Account - Profit & Loss - Complete - Advanced
General Ledger/Cash/Bank - Reports - Profit & Loss Account - Profit & Loss - Date To Date (Complete)
General Ledger/Cash/Bank - Reports - Profit & Loss Account - Profit & Loss - Schedules
General Ledger/Cash/Bank - Reports - Profit & Loss Account - Profit & Loss - Date To Date (Schedules)
General Ledger/Cash/Bank - Reports - Balance Sheet - Balance Sheet - Complete
General Ledger/Cash/Bank - Reports - Balance Sheet - Balance Sheet - Complete - Advanced
General Ledger/Cash/Bank - Reports - Balance Sheet - Balance Sheet - Date To Date (Complete)
General Ledger/Cash/Bank - Reports - Balance Sheet - Balance Sheet - Schedules
General Ledger/Cash/Bank - Reports - Balance Sheet - Balance Sheet - Date To Date (Schedules)
Manufacturing - Reports - Material In/Out Register - Product - Warehouse Wise - On Warehouse
Manufacturing - Reports - Material In/Out Register - Product - Warehouse Wise - On Product
Manufacturing - Reports - Material In/Out Register - Product - Warehouse Wise - On Product Group
Manufacturing - Reports - Material In/Out Register - Product - Product Wise
Manufacturing - Reports - Material In/Out Register - Product - Product Sub Group Wise
Manufacturing - Reports - Material In/Out Register - Product - Product Group Wise
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Product Group
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Product
Inventory Warehousing - Reports - Stock Ledger - Warehouse Wise - On Warehouse
Inventory Warehousing - Reports - Stock Ledger - Product Wise - Detail
Inventory Warehousing - Reports - Stock Ledger - Product Wise - Summary
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Batch
Manufacturing - Reports - Stock Ledger - Product Group Wise - Detail
Manufacturing - Reports - Stock Ledger - Product Group Wise - Summary
Manufacturing - Reports - Stock Ledger - Product Sub Group Wise - Detail
Manufacturing - Reports - Stock Ledger - Product Sub Group Wise - Summary
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Product
Manufacturing - Reports - Stock Ledger - Warehouse Wise - On Warehouse
Manufacturing - Reports - Stock Ledger - Product Wise - Detail
Manufacturing - Reports - Stock Ledger - Product Wise - Summary
Manufacturing - Reports - MIS Reports - Warehouse Stock Status
Manufacturing - Reports - MIS Reports - Overstocked Status - Product Group Wise
Manufacturing - Reports - MIS Reports - Overstocked Status - Product Sub Group Wise
Manufacturing - Reports - MIS Reports - Serial Number Query
Manufacturing - Reports - MIS Reports - Reorder Status
Manufacturing - Reports - MIS Reports - Stock Status-Avg-Cost & Sale Price
Accounts Receivable - Sales - Reports - Outstanding Documents - Outstanding Orders - Customers
Accounts Receivable - Sales - Reports - Outstanding Documents - Outstanding Orders - Orders
Accounts Receivable - Sales - Reports - Outstanding Documents - Outstanding Orders - Agents
Accounts Receivable - Sales - Reports - Outstanding Documents - Outstanding Orders - Products
31.Reports - Accounts Receivable - Sales (Enhanced)
New Check Box "Consider Post Dated Cheques (PDCs)"
(Accounts Receivable - Sales - Reports - Receipts Register - Date Wise)
(Accounts Receivable - Sales - Reports - Receipts Register - Number Wise)
(Accounts Receivable - Sales - Reports - Receipts Register - Customer Wise)
(Accounts Receivable - Sales - Reports - Receipts Register - Agent Wise)
(Accounts Receivable - Sales - Reports - Payments Register - Date Wise)
(Accounts Receivable - Sales - Reports - Payments Register - Number Wise)
(Accounts Receivable - Sales - Reports - Payments Register - Customer Wise)
(Accounts Receivable - Sales - Reports - MIS Reports - Ageing Customer in Home Currency)
(Accounts Receivable - Sales - Reports - Special Reports - Statement of Account - Customers in Home Currency)
(Accounts Receivable - Sales - Reports - Party Ledger - Customer - City Wise)
(Accounts Receivable - Sales - Reports - Party Ledger - Customer - State Wise)
(Accounts Receivable - Sales - Reports - Party Ledger - Customer - General Ledger)32.Reports - Accounts Payable - Purchases (Enhanced)
New Check Box "Consider Post Dated Cheques (PDCs)”
(Accounts Payable - Purchases - Reports - Receipts Register - Date Wise)
(Accounts Payable - Purchases - Reports - Receipts Register - Number Wise)
(Accounts Payable - Purchases - Reports - Receipts Register - Vendor Wise)
(Accounts Payable - Purchases - Reports - Receipts Register - Agent Wise)
(Accounts Payable - Purchases - Reports - Payments Register - Date Wise)
(Accounts Payable - Purchases - Reports - Payments Register - Number Wise)
(Accounts Payable - Purchases - Reports - Payments Register - Vendor Wise)
(Accounts Payable - Purchases - Reports - MIS Reports - Ageing Vendor in Home Currency)
(Accounts Payable - Purchases - Reports - Special Reports - Statement of Account - Vendors in Home Currency)
(Accounts Payable - Purchases - Reports - Party Ledger - Vendor - City Wise)
(Accounts Payable - Purchases - Reports - Party Ledger - Vendor - State Wise)
(Accounts Payable - Purchases - Reports - Party Ledger - Vendor - General Ledger)33.Post Dated Cheques (PDCs) Carry Forward on Year Ending (Enhanced)
Post Dated Cheques (PDCs) will also be carried forward after Year Ending has been run, provided the Post Dated Cheque Dates are after Year Ending Cut-Off Date and Voucher Date is prior or equals to Year Ending Cut-Off Date and PDCs have not been cleared/encashed.
Opening PDC Vouchers now available
Accounts Receivable - Sales - Post Dated Cheques - Customer Receipt / Payment
Accounts Payable - Purchases - Post Dated Cheques - Vendor Receipt / Payment
Opening PDC Vouchers can be “Deleted”
Opening PDC Vouchers cannot be “Modified”
Opening PDC Vouchers can be “Cleared”
Opening PDC Vouchers can be “Recalled”
Opening PDC Vouchers can be “Returned”
Important Note : After Year Ending has been run, the PDC Voucher will not be carried forward if Cheque Date is prior or equal to Year Ending Cut-Off Date and PDC has not been Cleared. Year Ending Process will display the “Total Number of such Entries” and Year Ending will proceed only after you have confirmed.
(Utility - Year Ending)34.Auto Journal Voucher (Posting Details) Window (Enhanced)Now Click on JV Button to View the Journal Voucher Details from respective Home Screens
Cash Sale Invoice
Cash Purchase Invoice
Cash Sale Return
Cash Purchase Return
(Accounts Receivable - Sales / Entry / Sale Invoice)
(Accounts Receivable - Sales / Entry / Sale Return)
(Accounts Payable - Purchases / Entry / Purchase Invoice)
(Accounts Payable - Purchases / Entry / Purchase Return)
35.Customer / Vendor Credit Limit (Enhanced)
Payroll Details Segment introduced in Document Class – Picture
Allows you to define Employee, Division and Department
Two New Columns now available under Payroll Details Segment
Division and Department
(Masters – Document Class – Picture)36.“Reduced” TDS Rate by the Govt of India wef 14 May 2020 incorporated (Enhanced)
- Applicable for India only
Due to COVID-19 pandemic, Govt of India has by Ministry of Finance - Department of Revenue - Central Board of Direct Taxes Directive dated 13 May 2020 reduced Tax Deducted at Source (TDS) Rate for the period 14 May 2020 to 31 March 2021.
New TDS Rates have been incorporated in FACT ERP.NG. TDS will be automatically deducted at the reduced rate on the basis of the transaction date – FACT ERP.NG will now intelligently calculate reduce the TDS Rate by 25% where applicable
(General Ledger/Cash/Bank - Entry - Cash / Bank Voucher)
(General Ledger/Cash/Bank - Entry - Journal Voucher)
(Accounts Payable - Purchases - Entry - Purchase Invoice)
(Accounts Payable - Purchases - Entry - Vendor Receipt / Payment)
(Accounts Payable - Purchases - Entry - Vendor Debit/Credit Note
37.EPF Rate Reduced by the Govt of Malaysia (Enhanced)
- Applicable for Malaysia only
Govt of Malaysia has announced a new Statutory Contribution Rate for Employees. Employee’s share of the Employees Provident Fund (EPF) Rate has been reduced from 11 per cent to 7 per cent. Employees may choose to maintain the Employee Contribution Rate at 11 per cent at their option. This new rate is applicable from 1 April 2020 to 31 December 2020 for employees aged below 60 years. New EPF Rates have been incorporated. FACT ERP.NG intelligently calculates the 7% Reduced EPF rate where applicable
(Ichiban Payroll Guru - Payroll - Payslip Generation)38.Ichiban Payroll Guru (Enhanced)
- Applicable for India only
New Profession Tax (PTAX) Table incorporated
SalaryP-Tax0 to 10,0000.0010,001 to 15,000110.0015,001 to 25,000130.0025,001 to 40,000150.00above 40,001200.00
Now PTAX will be automatically calculated as per above table at the time of Payslip generation.
(Ichiban Payroll Guru - Payroll - Payslip Generation)39.Ichiban Payroll Guru (Enhanced)
- Applicable for India only
New ESI Contribution Rate for Employee as well as Employer has been introduced. Effective 01 July 2020, FACT ERP.NG will automatically compute Employee’s Share at 0.75% and Employer’s Share at 3.25%
ESI Contribution Amount for Employee and Employer will be rounded up
(Ichiban Payroll Guru - Payroll - Payslip Generation)40.Ichiban Payroll Guru (Enhanced)
- Applicable for India only
EPF Contribution Amount for Employee and Employer will be considered as “Integer” Values only
(Ichiban Payroll Guru - Payroll - Payslip Generation)41.Ichiban Payroll Guru (Enhanced)
- Applicable for India only
“Basic” Amount will be computed after deduction of Unpaid Leave Deduction Amount
Unpaid Leave Deduction Amount will not added to Total Deduction
When calculating any other Head of Pay (HOP) / Pay Item on Basic, Unpaid Leave Deduction Amount will get deducted from Basic Head of Pay (HOP)
(Ichiban Payroll Guru - Payroll - Payslip Generation)42.Ichiban Payroll Guru (Enhanced)
Now, possible to map the following in Ichiban Payroll Guru via Document Class. Once mapped, Payroll posting in Financials via the Auto Journal will be done as per Division and Department
Miscellaneous - Masters - Division
Miscellaneous - Master - Department
(Ichiban Payroll Guru - Payroll - Payslip Generation)43.Ichiban Payroll Guru (Enhanced)Option available now to do Payroll Posting in Financials without posting it Document Class Wise for each Employee
(Ichiban Payroll Guru - Payroll - Payslip Generation)44.Import - Product Master (Enhanced)
- Applicable for India Only
New Fields added
HSN Code Description
SAC Code Description
Available in Import Template also
(Masters - Items / Products - Products)
(Manufacturing - Masters - General - Products)45.New GST Tax Codes (Enhanced)
- Applicable for Singapore onlySales :
SRCA-S - GST 0.00% SRCA-S
SRCA-C - GST 7.00% SRCA-C
SRRC - GST 7.00% SRRC
SROVR - GST 7.00% SROVR
Purchase :
TXCA - GST 7.00% - 7.00% TXCA
TXRC-TS - GST 7.00% TXRC-TS
TXRC-ESS - GST 7.00% TXRC-ESS
TXRC-N33 - GST 7.00% TXRC-N33
TXRC-RE - GST 7.00% TXRC-RE
IM-ESS - GST 7.00% IM-ESS
IM-N33 - GST 7.00% IM-N33
IM-RE - GST 7.00% IM-RE
(General Ledger/Cash/Bank - Entry - Cash / Bank Voucher)
(Accounts Payable - Purchases - Entry - Vendor Receipt / Payment – Advance)
(Accounts Receivable - Sales - Entry - Customer Receipt / Payment – Advance )46.Statutory - Form GSTR-1 (Enhanced)
- Applicable for India Only
Changes made in “Reconcile with General Ledger” Tab for easier understanding
“Amount” Column changed to “Balance Amount”
New Columns
“Debit”
“Credit
(Auditor's Toolbox / GST / Form GSTR-1)
(Statutory / Reports / GST / Form GSTR-1)47.Masters - Customers (Enhanced)
- Applicable for Philippines Only
New Field added
'TIN' : Customer Master / General
TIN Structure Example: 123-456-789-000
(Masters - Customers / Vendors - Customers)48.Masters - Vendors (Enhanced)
- Applicable for Philippines Only
New Field added
'TIN' : Vendor Master / General
TIN Structure Example: 123-456-789-000
(Masters - Customers / Vendors - Vendors)49.Invoice Register - Customer (Enhanced)
- Applicable for Philippines Only
'TIN Number' now available
Invoice Register - Customer
If a Customer has a TIN Number in Customer Master, it will show in report
Now available is all Invoice Register - Customer designs (except Invoice Print Log)
(Accounts Receivable - Sales / Reports / Sale Registers / Invoice Register - Customer)50.Invoice Register - Vendor (Enhanced)
- Applicable for Philippines Only
'TIN Number' now available
Invoice Register - Vendor
If a Vendor has a TIN Number in Vendor Master, it will show in report
(Accounts Payable - Purchases / Reports / Purchase Registers / Invoice Register - Vendor)51.Tax Deduction at Source (TDS) (Enhanced)
- Applicable for India only
In TDS Section, Drop Down and Help Window: New Columns added
TDS% (Company)
TDS% (Individual / HUF)
TDS% (Firm)
TDS Threshold Amount
TDS Section Code and TDS Section Description now available
Additional Charges
TDS Attracting General Ledger
TDS Attracting Product
(Masters - Tax Deduction at Source (TDS) - TDS Types (Sections))52.Masters - Employee (Enhanced)
- Applicable for Nepal Only
Template Employee: Following Fields in Employee Master Excel Template enhanced for seamless import
PFCONTRI,L,1
CITCONTRI,L,1
INSURANCECONTRI,L,1
(Masters - Employee)53.Statutory - Entry - E-Way Bill Generation (Enhanced)
- Applicable for India Only
E-Waybill Module Unit Column: "METRIC TON" Unit now available
(Statutory - Entry - E-Way Bill Generation)54.FACT ERP.NG - PEPPOL Integration (Enhanced)
- Applicable for Singapore only
Company
PEPPOL ID : “SGUEN” does not need to be entered now – simply enter UEN (Example: 199206146Z)
UEN is now fetched from the PEPPOL Portal automatically based on the Company Name and will be auto-populated wherever needed
E-Invoice PEPPOL Configuration
Enter following PEPPOL User Credentials direct from Home Screen
PEPPOL SFTP Address
PEPPOL SFTP Port
PEPPOL SFTP User Name
PEPPOL SFTP Password
PEPPOL ID
Easy PEPPOL Registration: simply fill up the from in FACT ERP.NG and the email will go to PEPPOL directly for registration purposes (no need to email PEPPOL separately)