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Finocket for Food & Pharma Manufacturers

Challenges

The manual work this trade still runs on, what it costs, and what changes.

  1. Not knowing what one carton, jar or strip costs

    How it is done today
    Formula cost is worked out once in Excel and never updated when raw or packing material prices move.
    Cost or risk
    Distributor prices are set on old costs and margin leaks without anyone seeing it.
    With Finocket
    Write each formula as a bill of materials with packing material and read the cost per unit.

  2. Production stages costed as one lump

    How it is done today
    Mixing, filling and packing labour are not split; overheads are spread by guesswork.
    Cost or risk
    No view of which stage drives cost.
    With Finocket
    Route production runs through work centres with labour cost per step.

  3. Delivery dates promised without checking the line

    How it is done today
    The owner promises a distributor a date from memory of what is running.
    Cost or risk
    Missed dates and rushed batches.
    With Finocket
    Check load by work centre from open work orders before committing a date.

  4. Batch numbers written by hand on invoices

    How it is done today
    The batch is copied onto the invoice from the production register.
    Cost or risk
    A wrong batch on a distributor invoice has to be found and corrected by hand.
    With Finocket
    Record the batch or lot number on each invoice line. Production runs carry a batch number only where the manufacturing v3 setting is switched on (off by default), and there is no recall system.

  5. HSN-wise summary rebuilt for every GSTR-1

    How it is done today
    The accountant sorts a month of invoices by HSN in Excel.
    Cost or risk
    Errors in the HSN table of GSTR-1, rebuilt each month.
    With Finocket
    Get the HSN-wise summary from invoices, using the HSN and rate set on each item.

  6. Export invoices made in Word

    How it is done today
    Foreign-currency invoices are typed by hand with the LUT details pasted in.
    Cost or risk
    Mismatched figures between the invoice and the books.
    With Finocket
    Raise export invoices under LUT in foreign currency from the same books.

  7. Material sent to contract packers on paper

    How it is done today
    Challans to the packer are in a book; returns are matched by memory.
    Cost or risk
    Material lying with a packer is not visible, and ITC-04 is rebuilt from paper.
    With Finocket
    Raise a delivery challan with the job-work purpose and keep e-way bill details on it. A job-work custody record and an ITC-04 CSV exist only where the manufacturing v3 setting is switched on (off by default); Finocket files nothing.

  8. Tally batch stock moved by hand

    How it is done today
    Opening stock and masters are retyped when moving off Tally.
    Cost or risk
    Retyping and mistakes in opening balances.
    With Finocket
    Import masters and stock from Tally. Bill-of-materials import from Tally has not been checked.
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