Backup
A backup for a business stores all information necessary to completely recreate its accounting records, including transactions, customer and supplier information, inventory status, reports, attachments, as well as custom themes and settings. Using backups, you can: Recover data after it is lost, as when a storage drive fails, recover data from an earlier time, for example, before someone began making entry errors, transfer data between computers, build redundant data caches, migrate data to different editions of the program (desktop, server, or cloud). A backup includes data of only one business. If you have multiple accounting entities, each must be backed up separately. If desired, these backups can be to separate locations. And a single business can be backed up to multiple locations.
GST Reports
A GST report is a document containing details of all income/sales and/or expense/purchase which a taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability. To file GST reports or for GST filing, check out gst.cleartax.in website that allows import of data from various ERP systems such as Tally, Busy, custom excel, to name a few. Moreover, there is option to use desktop app for Tally users to directly upload data and filing. If GST reports are not filed within time, you will be liable to pay interest and a late fee.
Inventory Management
Inventory management refers to the process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items. For companies with complex supply chains and manufacturing processes, balancing the risks of inventory gluts and shortages is especially difficult. To achieve these balances, firms have developed several methods for inventory management, including just-in-time (JIT) and materials requirement planning (MRP). nventory represents a current asset since a company typically intends to sell its finished goods within a short amount of time, typically a year. Inventory has to be physically counted or measured before it can be put on a balance sheet.