Minutes of Meeting

Minutes of meeting regarding the discussion of pending issues & features for Accounting
Module for deliberation.

Meeting ID: Google Meet (sub-xfgh-ovy) | Date: 21-05-2020, 02:00 pm to 05:00pm

Members virtually present during meeting:

 Mr. Nikhil Zaveri, Provost
 Mr. Navin Shah, CFO
 Mr. Arpit Ajmera, Dy. Manager-Finance
 Ms. Jagruti Mer, Dy. Manager-Finance
 Mr. Dhaval Shah, Sr. Asst. Officer-A/Cs
 Mr Neel Patel, Support Executive - IIPL
 Mr. Pankaj Paun, Regional Head, IIPL
 Mr Dharmendra Savsani, Sr. Developer
 Mr. Mital Naik, SM-IT
 Tejas Thakor, Admin Asst. – IT
 Mr. Dinesh Chhabrani, Admin Asst. – IT
 Mr. Pranav Kalambe, IT Support

In order to discussion of pending issues & features for Accounting Module, a meeting was
convened on 21st May 2020.
A detailed discussion was done with members present during the meeting, following are the
various discussion points and suggestions were noticed which needs to be incorporated in
Account Module.
Below are the discussed points of module with remarks of Account team.

 Expense Account TYPES to add EXP & INCOME. (At present shown as
Asset/Liabilities) - Done
 Service invoice and purchase invoice submit time account effect summary
notification (CR/DR) - Service invoice Transaction done however Purchase invoice
demo in integration with Purchase Dept. to check integration flow is yet to be shown
under Demo.
 All TDS configuration as per GOV. Rules master by default. (Data to fill up) – Done
 PAN validation and facility to fill PAN automatically when GST number filled in
vendor master. – Done
 Salary generate time NET payable and TDS auto round off facility to give - Salary
demo shown for 3 category of employees under old tax regime, one with age group
over 60 years, one with various deductions & exemptions & one regular case of age
group under 60 years. Final TDS figure getting fetched correctly however few
reservations regarding below points were discussed for changes as per Income Tax
format: 1) No details of Professional tax were showed in TDS calculations separately
2) No specific format was followed by ERP team 3) No separate view for declared
value vs proof value for income tax declaration as is available in current ERP ("Tally")
which is considered a benchmark for functionality development 4) We have already
shared Tally format for Income Tax computation and we are again furnishing step
wise Income Tax computation format to be developed in ERP on basis of Tally. (Refer

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Minutes of Meeting

Annexure B attached ) 5) Functionality to be made available to all the Employees for

providing them an option to select either of old tax or new tax regime under Income
Tax guidelines 6) Demo required for different category of employees under New
Income Tax regime
 Money receipt to be titled bank receipt and to be configured on type of school such
as SOS, SOM etc. and type of mode of payment such as online & offline types and
then referencing of receipt with type of school with specific mode of payment for
smooth bank and fees reconciliation – a) Multi-receipt entry is pending i.e. for e.g. In
case of floating of tender, we receive EMD from different vendors and we account in
form of multi-credit with narration incl. specific instrument nos. against separate
credits. B) Also Money receipt to be titled bank receipt c) To be configured on type
of school e.g. SOS, SOM etc. & on type of mode of receipt i.e. online or offline &
connecting with type of school with specific mode of payment for seamless bank &
fees reconciliation (Still pending as communicated by Mr. Pankaj ji and ERP team yet
to share a deadline for completion of this functionality)
 Single Payment Voucher entry with multiple accounting and multiple payments -
Beneficiary A/c number to be mentioned in multi-payment voucher which is still
pending
 A details discussion was also done regarding changes desired by Account team.
Please find attached Annexure A for suggestion / changes / pending points to be
incorporated in Account Module; which is to be developed by Infinity Team as per
Annexure A.
 Account Team had provided step wise flow for Income Tax computation for
presentation and inter-linking of different heads for Salary preparation & associated
tax calculations to be developed in DCS as per Annexure B.

To:
All the concerned SPoC and Core Committee members.

Cc:
Sh. P. K. Taneja (Retd. IAS) – President. GSFC University
Dr. Nikhil Zaveri – Provost, GSFC University
Sh. S. P. Bhatt – Director Admin, GSFC University
Sh. Atul Dholakia – Deputy Director & Director Campus, GSFC University

Annexure:
Annexure A – Status of Account Module as on 21-05-2020
Annexure B - Income Tax Computation & presentation tally basis

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