Ledgers: An Effective Way To Maintain All Business Transactions

Ledgers are books of accounts used for reporting economic transactions measured in monetary terms. Each financial transaction is noted inside a ledger. It depends on the size and structure of the organisation that the number of journal entries vary from hundreds to millions.

General ledger accounts are basically nothing but chart of accounts.

It helps in consolidating journal entries at a single place which are of same nature. Transfer of several journal entries in a single ledger account is termed as posting. For example, 100 entries of journal passed can be posted into a single sales account created. Post that, several sales transactions can be noted in that account date-wise.

Boundless helps you in doing this and maintaining ledgers all the while for your business.

Some important points that relate to ledger are:

1.  Each side of a journal entry is made on the same side of the ledger i.e. debit entry is made on the debit side while credit entry is made on the credit side.

2. Expenses and assets represent debit balance while income and liabilities represent credit balance including capital balance.

3. Debit balance in the statement represents amounts receivable while credit balance in the statement represents amounts payable. While amount receivables are noted in assets, amount payables are represented in liabilities.

4. While credit side represents income earned, debit side represents an organisation's expenses.

5. A cash book's debit balance means cash in hand.

6. Bank book's debit side is balance at bank and bank book's credit balance is bank overdraft.

7. However, real and personal account balances are represented in balance sheet and are carried onto next financial years.

For more on ledger services and related, call us at +91-11-66797769 or e-mail at info@boundlessindia.comor visit us at http://www.boundlessindia.com.

Implementing 5s In Warehouses

Boundless is one company that helps in implementing 5s, the Japanese methodology built in 1970s.  

We implement 5s in varied workplaces for you and warehouse in one such place where 5s when executed bring beautiful results. 

                                     

Sort or Seiri - This phase in 5s sorts the workplace i.e. unwanted things are removed for making space. This way new things can be accommodated in warehouse and existing  things that need space can get storage. The phase helps you retain essential things only which are required. One also can set priorities using last-in-last-out method or first-in-first-out. Boundless helps you do just that.

Tools that might be required include:

     1. Red tags

     2. Equipment tags

Straighten or Seiton - The phase helps streamline the warehousing process and eliminates wastage. Boundless helps you with seiton in reducing wastage of time and resources.

Tools that might be required include:

      1. Warehouse signs

      2. Labels / inventory tags

      3. Floor identifiers / markers 

Shine or Seiso - In an effort to know where is efficiency lacks, the warehouse's shine is mandatory. Boundless helps recommend any spill or leak fixtures to prevent hazards. 

Tools that might be required include:

      1. Spill kits  

      2. Janitorial supplies

Standardise or Seiketsu - Boundless in order to bring efficiency, executes consistency. The standard procedures are well documented in terms of work manuals. Another way to standardise is to conduct regular training sessions where emergency management is taught. 

Tools that might be required include:

       1. Training manuals

       2. Work posters 

Sustain or shitsuke - It is human nature to roll back to older methods but it is quite important to hold on to new processes after all, 5s is striving towards continuous excellence rather than to get stuck with old rotten techniques. 

For more on 5s or warehousing services and related, call us at +91-11-66797769 or e-mail at info@boundlessindia.comor visit us at http://www.boundlessindia.com.

Offering The Best Warehousing Process Alternatives

Usually there are three kinds of warehouses

   •  High rack warehouses

      Offering a height of 50 metres, high rack warehouses provide maximum space utilisation. These kinds help store heavy and large volumes of goods. High rack warehouses can be further connected to a logistic centre's stations.  It should have essentials such as racks, delivery vehicles, stacker cranes and racking storage. It should have own control techniques that trigger effective material delivery.

  •  Small parts storage

    This kind of storage provides quick access to the goods stored. It enables high stock rotation. Through small parts storage, just in time production procedures are kept in place. The items in small parts storage are stored in small volume loading items like trays and plastic containers.  

     The storage aids in total space utilisation for a logistics centre and in ideal storage density. 

Centered around frequency of access of individual goods, the technique helps in multiple deep storage. The storage includes shuttle-systems, retrieval motor vehicles and racking storage. It also has a provision of electrical and mechanical maintenance.

     We at Boundless make a superb set of procedures that studies your small parts warehouses and do an extensive analysis of specific procedures. 

  •  Special warehouses

     Special kinds of storages includes load storages and coil storages.  A load storage creates space   for every kind of steel profile and individual components. And  in coil storages, the individual coils are packed so compactly that they offer a comprehensive solution. 

     Boundless provides customised solutions for above kinds of warehousing techniques. We provide alternate methods to improve your existing processes used in warehouses, so that you get the maximum benefit in terms of storage.

  For more on warehousing services and related, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Why Are Content Update Services Important For Your Business ?

To maintain an effective website, it is imperative to take care of workflow processes of content management and online content updates.

We have solutions for customised content management for your business organisation. Boundless has laid foundations when it comes to content updates for its customers. Based on requirements from the client, we can grow their business by leaps and bounds.

When the content update is spoken of then all exceptional writers are present with us. These individuals have great writing experience and are also contributors in print media industry writing for newspapers and e-papers. Their experience ranges in sectors such as real estate, food and entertainment, arts, travel, science, medicine, technology, government, banking etc.

Boundless also helps in content migration whenever a new website is created from an old one. Data migration is required to migrate data from an old website to a new one.

Content update services come useful when:

·         The existing content is out of date

·         You don't have time to update the content because you are tied up with other things

·         Search engines too like websites that evolve with time

If you do not change or update content

·         Your existing customers get disappointed as up to date information is missing

·         Hence, the visitors decline and so do the profitability

·         The rankings of your corporate web site decline

·         You start losing important prospects or business

·         In the long run, it can damage business' reputation in market

So, what are you waiting for folks? Take contact details of Boundless and dial or email us.

In a cost-effective manner, we shall make content changes on your website or any other online place.

For more on E-commerce support services such as content updates, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Get Street-Smart By Outsourcing Payroll Management Today

The administration of an employee's financial record includes information on salaries, wages, bonuses, net pay and deductions. A record of an employee must be kept with an employer for at least four years. Also, there are at least 20 kinds of records that should be kept of an employee with an employer.

Payroll services may be outsourced to companies such as Boundless. The benefit of outsourcing is to keep the business head out of the overhead of changing laws and remembering them. This saves them time too and this time, can be involved in other business activities by them.

Cost is also saved by outsourcing payroll management to other companies. If there are more than 1000 number of employees in an organisation, then it is really crucial to outsource the services to a separate company  such as Boundless since managing this huge amount of data becomes difficult.

In this method of outsourcing, data is provided to the outsourced firms with the following functions also performed by them:

·         Quality audit procedure and planning

·         Employee insurance and provident fund processing

·         Medical claim processing

·         Payroll record analysis

·         Payroll tax analysis

Payroll may be managed monthly or yearly. When maintained monthly, house rent allowance, conveyance and other allowances such as mobile are considered. Some deductions are made such as taxes, provident fund etc.  Tax deductions are made only from an employees' salary where there are applicable for an employee. Dearness allowance and HRA are provided at a fixed rate while the provident fund is deducted on a monthly basis.

Annual payrolls, when provided, comprises annual bonuses, meal vouchers, medical reimbursements, incentives, leave travel allowances etc.

Bonuses, allowances, reimbursements and incentives are based on policies of an organisation. Some companies provide them on performance basis while some provide on a fixed rate basis.

For more on payroll management services, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

What's In A Warehouse ?

A warehouse or a distribution centre as it is called interchangeably is a place used to store goods. The goods from there are distributed to consumers for consumption.

Warehouse management is the process of coordinating the incoming  goods in the warehouse, their storage, subsequent tracking inside the warehouse and eventually distribution outside to the product's destination. 

A warehouse is empty without any form of product inside it. The delivery to the warehouse is done by trucks, rails, or ships. The received goods are processed and then sent to warehouse for storage purposes. 

Inventory control is related to warehousing in a way that inventory control is the process of searching and finding the product inside the warehouse accurately so that it is delivered just-in-time. 

To complete the order, process of selecting products is called order picking.  Some order picking procedures are as follows:

• Pick-by-order - Selected products are picked on a per order basis. 
• Pick-by-article - Product multiples are selected to complete orders.  Products are aligned with a staging area and clubbed with other products to complete the order.
• Wave - Products are collected based on a shipping criteria. 
• Reverse Order - A part of an order is held so that it can be clubbed with another order.

Packaging and labelling are also a part of warehousing. Proper packaging is mandatory to prevent loss of goods due to damage. The exercise of Labelling is important in warehousing as it helps to easily identify, track and select a product to complete the order. 

Boundless is one company which helps you provide your order in time by providing excellent warehousing services. It helps deliver to your customer for consumption.

For more on warehouse management, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Effective Inventory management

Get The Best Car Title Loan Proposal Effective inventory management enables a distributor to meet the expectations of a customer in product availability with each item so that the distributor's net profits are increased. Boundless is one company that helps you achieve that.
Inventory is divided into:
Base stock: That part of inventory which is replenished after being sold to its customers.
Safety stock: The second part of inventory which is stored for safeguarding against the uncertainty impact.
Costs of Inventory:
There are two kinds of inventory costs: Visible and Hidden Costs
A. Visible Costs are as follows:
·         Ordering Costs - costs of reloading inventory which further includes transportation, receiving, costs spent while searching suppliers and clerical costs involved in creating purchase orders.
·         Carrying Costs - the cost of holding an inventory item in inventory which also includes storage space costs, security, theft, deterioration and insurance costs.
·         Shortage Costs -  sales loss - temporary or permanent when demand cannot be met that is caused due to employee's idleness and extra machinery set ups due to disrupted manufacturing when the material is not available. It also is caused when quantity discounts are not available on procured materials and when sales are lost leading towards unhappy customers.
B. Hidden Costs can be fatal to your business and cause
·         No incentive for process improvement
·         Quality problems which are not identified immediately
·         Underlying issues that remain hidden and thus become difficult to resolve
·         reduction in responsiveness
·         increased lead times
How inventories can increase?
1. If lead times are not accurately anticipated then an inventory might increase.
2. If there are quality problems occurring then inventory may increase.
3. If demand increases unexpectedly
4. If order deliveries are late.

For more on inventory management, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.