Mandi accounting is vital to managing and steering agri trading business in the right direction. Not having a proper mandi accounting system would mean commission agents will not be able to know, how their business is doing – making profits or running into losses! Plus, they would have no way of looking into the financial status of their mandi business. A sound mandi accounting system allows commission agents to keep track of all their financial transactions. This helps them understand and assess their business’s financial health and make informed decisions that are intelligent and safe. Instead of working on opinions or guesses, with accurate accounting, a commission agent would make their decisions based on facts and figures.
How do mandi accounting systems help?
Commission agents can use mandi accounting to measure and track performance and make optimal decisions. Measuring performance helps them avoid unnecessary costs. They can use mandi accounting to conduct cost-benefit analyses and generate reports. Various situations in business may require considerable cash. Therefore, mandi accounting is essential to ensure that these situations are taken care of within time and budget while being profitable simultaneously.
To prepare for their business’s future, commission agents must understand the current financial position. This way, they can make long-term goals for their mandi businesses based on accurate accounting data. If commission agents want to grow their businesses, mandi accounting can provide them with information about the best time to begin the process. Expansions cost money and time. Without appropriate accounting knowledge, they might make a poor decision.
Decision-making and ChargeERP mandi accounting software
ChargeERP is exclusively designed for mandi commission agents to help them with their everyday mandi operations and accounting. It is the easiest, fastest, and most secure mandi accounting software that promises a 90% reduction in time. With a user-friendly layout, full data entry support, and end-to-end data encryption, this accounting software is a must-have for small and big mandi businesses. ChargeERP software also allows multi-device access. It even provides DEO services to its clients, i.e., data entry support at their business location.
With the help of ChargeERP software, commission agents can quickly generate accurate weekly, monthly, quarterly, and yearly financial reports for your business. They can build the necessary strategies for your business growth using these reports. Mandi accounting reports overview the money flow within the mandi business. Commission agents can refer to these reports whenever required.
1. Customer Bill
The customer bill shows the amount collected by the commission agents for the stocks sold to the customers. With ChargeERP, you can download, print, and share this customer bill with the click of a button.
2. Outstanding Report
Outstanding reports are one of the most critical financial reports any mandi business would like to look into. These reports provide information about the amount payable to all the suppliers.
3. Collection Report
Collection reports provide information about the amount receivable from all the customers.
4. Absent Party List
Commission agents deal with many buyers and suppliers regularly, and some traders only transact occasionally. ChargeERP’s Absent Party list will segregate such buyers or suppliers. It is the list of people with whom the commission agent hasn’t done any dealing in the past 90 days.
5. Ugrahi Register
‘Ugrahi Register‘ plays a vital role in mandi accounting and helps save paper. It shows the total payments received from customers and advances, if any. It’s a day-wise list, and the commission agent can check it for up to 5 back dates.
Journal can record all the miscellaneous expenses such as tea-coffee expenses, stationery, Wi-Fi bills, etc. Entries done in this module will reflect in the ledgers of respective accounts. Commission agents can download, print, or share the Journal register with a click.
Besides bills and reports, another unique feature of ChargeERP mandi accounting software is that commission agents can keep track of crates issued to the customers and received from the suppliers. They can check the current Crate Balance anytime, download, print, or share the Crate Receipt, Crate Balance Report, Crate Ledger, and Summary Report in a click.