About MFACT.ERP in TallyPrime
The manufacturing industry, being highly dynamic and competitive, demands integrated systems across departments to boost productivity, enhance efficiency, reduce costs, and maximize profitability. MFACT.ERP empowers organizations to make accurate and strategic decisions by integrating all aspects of business operations, including sales, purchase, stores, production, finance, and payroll.
The manufacturing industry, being highly dynamic and competitive, demands integrated systems across departments to boost productivity, enhance efficiency, reduce costs, and maximize profitability. MFACT.ERP empowers organizations to make accurate and strategic decisions by integrating all aspects of business operations, including sales, purchase, stores, production, finance, and payroll.This seamless integration ensures businesses can manage their dynamic manufacturing processes using a single software solution. If you are in search of an ERP solution tailored for the manufacturing industry, MFACT.ERP in TallyPrime is the right choice. Below are a few key benefits that illustrate why MFACT.ERP stands out as the ideal solution for your manufacturing needs.
Salient features of MFACT.ERP
Automates Business Process with Greater Adoptability
MFACT.ERP is a comprehensive solution that drives automation within an organization by streamlining processes and centralizing data. It provides complete visibility across sales, inventory procurement, inventory control, production, quality checks, stores, finance, and accounts. By implementing MFACT.ERP effectively, organizations can enhance system efficiency, improve functionalities, and uphold commitments to their customers. Additionally, it offers real-time data, enabling management to access an accurate and up-to-date view of inventory at any moment.
Reduces Costs
A robust solution designed to automate operations, MFACT.ERP streamlines processes and centralizes organizational data. It provides visibility across key areas such as sales, inventory procurement, production, quality checks, stores, finance, and accounts. When implemented correctly, it boosts system efficiency, optimizes functionalities, and helps organizations meet customer commitments. Additionally, MFACT.ERP delivers real-time data, enabling management to access an accurate and up-to-date view of inventory whenever required.
Customer Satisfaction
Accurate Purchase & Production Planning enhances control over inventory, streamlines process scheduling which enables on-time delivery of the Products to Customers / Retailers / Distributors / Stockiest. Delivering the product on time is critical for maintaining satisfaction towards customers.
Improved Communication
Organizations can share accurate inventory positions not only with internal teams but also with external sources such as suppliers and customers through MFACT.ERP. This enhances communication and fosters healthier relationships with customers. Orders taken by the sales team can be directly communicated to the operations team, allowing production to begin promptly.
On Most reliable Software - Tally
Departmental wise Menu
It is not a compulsion by the Software to use all the features at one go, Admin/Users can set it up as per the Individuals role is concerned. In Simple words you can adapt the features Step by Step using MFACT.ERP. On the basis of features enabling the Departments will be visible on the Screen. department has been provided in MFACT.ERP. Best Possible solution given in MFACT.ERP is you can enable /
Sales Management
It can be seen as a segment of the organization’s marketing process. It deals with sales strategies, product pricing & merchandising, Sales Promotion activities, planning, supervising, motivating & controlling Sales team to achieve desired sales objectives or targets. Following Process has been provided in MFACT.ERP.
- Quotation Entry
- Quotation Register (Salesman wise / Overall)
- Pending Quotation (Salesman wise / Overall)
- Quotation Approval Mechanism
- negotiation trail for each quotation summary
- Purchase Order from customer (Sales order entry)
- Approval of Sales order
- Customized Invoice Format (Quotation, Sales Order, Sales, Challan, Credit note).
- Sales order register (Product, Product Group, Party)wise
- Pending SO Report (Product, Product Group, Party) wise
- Sales order summary
- Customer Ledger Report / Outstanding Reports.
- Dispatch & Invoice Process with Various Reports
- Sales person wise Customer Control.
- Only limited customer list. No other ledgers will be visible.
- Only Viewing & Print Rights of Challan / sales / Credit note.
- Control on valuation of Inventory (No Cost will be visible to sales team).
Purchase Management
Actual purchase record helps you to analyze and plan for the future. Purchase Management provides tool to examine product trends, market cycles & company expenditure. Purchase Procurement system automatically saves purchasing information. MFACT.ERP Reports provides detailed insight into important data.
It tracks detailed records of Inventory Requisition, GRN, Purchases and More……. Procurement system lets you control to make all your purchases by the specific person. You can prevent unauthorized people from placing orders without clearance. With a automated system keeps all your purchase information in easy search place. You can track Procurement system at each and every stage at any point of time. Following Process is provided in MFACT.ERP.
- Department wise Indent for Raw material / consumables /capital goods & Packing material.
- Indent Creation & Multilevel Approval system
- Sending Enquiries to Supplier
- Quotation Comparison Report
- Finalization of Vendor And PO Process
- Authorization level for Approval of PO
- Purchase order Management
- Auto Pick final approved Quotation for PO
- PO Linking Control
- PO Qty & Rate Control
- Tolerance level for GRN
- Customized Invoice Format (Purchase Order, GRN, Purchase, Debit Note).
- Purchase order register (Product, Product Group, Party) wise
- Pending PO Report (Product, Product Group, Party) wise
- Supplier wise Outstanding
- Supplier Ledger Report.
- Movement Analysis
- Purchase Planning based on Order Received from customer.
- GRN Qty can’t more then PO Qty
- No GRN without Gate-In (Optional) Only Supplier list visible
- Only Viewing & Print Rights of GRN / Purchase/ Debit note.
- Control on valuation of Inventory (No Cost will be visible).
Gate-In Management
Gate-In Management will help you unload your material at the proper place. When Material is received at the Factory it is very necessary to check whether particular GRN has a Valid Purchase Order System in MFACT.ERP. While Tracking Gate-In, Purchase order gets tracked along with Challan & transport Details. Following Process has been provided in MFACT.ERP.
Store Management
The store department is a crucial part of any manufacturing organization, responsible for maintaining control over inventory. MFACT.ERP enhances supervision and ensures effective material management, reducing capital investment in stock. A centralized store efficiently meets the needs of all departments within the organization while managing material receipts and issues. With material requirement analysis, the store department can forecast material needs accurately. The benefits and challenges of the store directly impact the operational performance of the organization.
MFACT.ERP’s store module offers comprehensive tracking of materials, including those received from suppliers, requested by production, and sent for job work. The following processes are seamlessly managed within MFACT.ERP.
- Indent Creation
- GRN Creation
- Material Issue to Production
- Job Order out Process
- Components (material) send to Job worker
- FG (Material) Received from Job worker
- Stock Analysis
- Raw Material Planning (Qty, Value wise)
- Indent Verification and Approval Process.
- Indent, GRN, Challan, Requisition, Material Issue Register
- Stock Ageing Report
- Stock Analysis
- Location wise Stock Analysis
- Job work out Reports.
- Job Order out, Material Send, Material Received Register for Job Worker.
- Pending Job Orders, Pending Material Send & Pending
- Material Received Reports
- Stock with Job Worker
- Aging of Stock with Job Worker
- Pending Sales Order Report (QTY)
- Pending Purchase Order Report (QTY)
- No Visibility of customer details. Only Supplier details upto Inventory (No Financial Records).
- GRN Qty Control against PO Qty
- NO GRN without Gate-in or Valid PO
- Negative Stock Control
- No Visibility of Rate & amount. All Reports shows only Qty
QC Management
When you’re running a business especially manufacturing, it is most important that you implement quality Control procedures for Inventory either at the time from receiving from supplier or Produce a WIP or Finished Products. If the goods which you are selling are not of good quality then it becomes difficult to get recurring business from those customers.
One of the biggest benefits of introducing quality control protocols in the Organization that is it brings a huge impact on your employee. When they know the quality is important as per the business prospect and quality is going to be monitored then they will think about bringing more quality to their work which automatically benefits the organization. Using Quality Control with Test Certificates ensures not only product safety but avoids disappointment for customer from buying. Better your Quality Happier the customers. Following Process is provided in MFACT.ERP.
- QC For Raw Material as well as Production
- QC Certificate Generation (Print Format)
- Partially Acceptance of QC Available for GRN.
- Rejection of Full or Partial Qty for GRN.
- Full Acceptance or Rejection of Qty for Production.
- QC Accepted Register for GRN & Production
- QC Rejected Register for GRN & Production
- Separate Reports of Pending QC for GRN & Production.
- Control of QC Qty against GRN or Production.
- Without QC Material can’t process further for production.
- Auto Numbering for Test Certificate.
Production Management
Production Management is a critical part of business as it aims to remove waste from production process through planning and organized process. Over-processing, scrap, re-work are few of the waste that can exist in a production facility. It is challenging to identify waste and removes it without using a standardized approach.
The success of production management is linked with proper forecasting, production planning and controls. A well planned production function will lead to quality product, higher rate of product and lower cost per unit which will result into better profitability. Proper Quality Produced Goods will be beneficial to the customers, Investors & suppliers since increase in profitability will require more production and hence it requires regular supply of Raw Material, Packing material from Supplier. Get better Rates from Supplier due to continuous supply from Supplier which again turns to good profitability. Following Process is provided in MFACT.ERP.
- Material Requisition Slip.
- Production Process
- Material Transfer to Store
- Production Analysis
- BOM Vs. Actual Consumption Report
- Production wise Material Require Assumption
- Requisition Register
- Production Register
- Material Issue – Store Register
- Pending Sales Order(QTY)
- Pending Requisition Register
- Stock Analysis (Production Location)
- Stock item Analysis
- No Customer or Supplier Visibility.
- Stock analysis up to Production Location
- No Rate & amount visibility
- Requisition of Component as per BOM
- Consumption of component with or without BOM.
- Automatically goes to Quality Checking after Production.
Payroll Management
Payroll is a critical operation for every business. You must pay your staff on timely basis which avoids low morale of the team, and gets the appropriate performance from the individual. A good computerized payroll system can help you carry out your pay run with greater speed and efficiency. A Automated system of payroll work out calculations and deduction at a faster pace. Payroll will generate accurate pay slip based on the attendance.
Reduce the burden of compliance like Provident Fund, ESIC, Professional Tax and many more…… Payroll has full integration with accounts for simplified payroll processing and accounting. It has User-defined classification and sub classification for comprehensive reporting on aspects such as employee, employee groups, pay components or departments. It supports user-defined earning and deduction pay heads. It has flexible and user-defined criteria for simple and complex calculations. It has unlimited grouping.
Support for user-defined production units such as attendance, production or time based remuneration units. Comprehensive report for employee wise costing. It has predefined process for accurate and timely salary processing, statutory deductions & employer statutory deductions. Generates statutory forms, Challan for income tax, EPF, ESI. Facility to drill down till voucher level. It Tracks down loan details of employee if given. Following Process given for Payroll in MFACT.ERP. Additionally we have given facility to maintain leave management in Payroll. In Leave management you can have paid leaves, Casual Leaves & sick Leaves. Leaves are user-Defined. While daily attendance leaves can be assigned and based on this you will have leave summary Reports (registers / Pending Leaves).
- Employee, Department, Salary Structure Master creation
- Daily Attendance creation as well as upload from excel
- Daily attendance with Leave marking.
- Conversion of Daily attendance to monthly attendance.
- Payslip Generation
- Employer contribution Generation for PF
- Employer contribution Generation for ESI
- Auto Calculation of leave
- Daily Attendance Register
- Leave Summary Reports.
- Single Payslip & multiple Payslip Generation
- Payroll Statement
- Payment advice
- Employee Profile
- Employee wise pay head breakup
- Monthly Attendance register
- Provident Fund Report
- ESI Report
- Professional Tax Report
- Gratuity Reports
- Various Income Tax Reports
- Salary Projection
- Challan Reconciliation
- Returns
- E-Returns
- Exception Reports
Admin Management
Authorization introduces a second pair of eyes and helps spot things that are suspicious or incorrect. This is one of the central principals of authorizations in the information system of business process. In this way strict controls can be kept in Tally. In Tally you can provide authorization Process to specific Transaction Type.
Users often make errors by selecting the wrong location at the transaction level when using a multiple godown system in Tally. This feature allows you to set location limits for each transaction type, ensuring accurate stock valuation. It is a crucial functionality for maintaining proper inventory valuation, as incorrect godown selection can result in stock mismatches.
Selecting the wrong cost center at the transaction level is a common error in a cost center system in Tally. This feature allows specific cost centers to be assigned for each transaction type, ensuring precise valuation. It plays a crucial role in maintaining profitability accuracy, as inappropriate cost center selection can cause discrepancies in profitability calculations.
Very helpful Plug-In for the management to control on USER’s Mistake. By having this Plug-In this feature User will not be able to make any outward entry of the Material which is not available in stock.
This Module will provide multiple descriptions at Stock Item Master creation level. From Stock master it will automatically set the description at inventory voucher creation level (Sales, Purchase, Credit note, Debit Note, SO, PO etc….).
Setting up an effective credit control system is vital when it comes to optimizing cash flow and avoiding bad debts. It is necessary to check customer’s creditability when we have a new business.
With Multiple USERS in Tally it is very necessary to have control of Transaction. With this Feature Management will be able to apply restrictions on deletion or cancellation of specific vouchers to specific users.
Browsing document Management System (DMS) Provides Flexibility, peace of mind, Less Storage and reduces the cost, Reduces the Wastage of time automatically and increases the productivity of organization. Browsing Document Management System (DMS) can reduce the need of files, furniture to keep files, boxes, papers by keeping all scanned documents in Tally Prime. This will provide more storage to be used for some other purpose and will definitely reduce the cost by not having more files, cabinets or boxes or any other stationary.
This Feature will give more Standard Formats for Invoices, Quotations, Sales Order, Purchase Order, GRN, Challan, Purchase, Credit Note & Debit Note. Apart from Standard Format given by Tally, you will have few more formats which can be used for better presentation of Invoices.
The data path in Tally is hidden, ensuring that users cannot view the location where data is stored in the live Tally environment.
