Table of Content:
- Step-by-Step process to start a Medical Store in India
- Types of Pharmacy Business
- Top 7 Pharmacy Franchise Business Opportunities in India
- How to Use Vyapar for Your Medical / Pharmacy Business
So thinking about “How to open a Pharmacy / medical store”? Let me tell you this, the pharmacy business is an evergreen business in India that is not affected by economic cycles. So, if one has minimal capital investment and space, the pharmacy store is ideal for many businessmen across India. You can either go for a stand-alone medical store or a pharmacy franchise like Apollo pharmacy franchise, Netmeds franchise, etc which is expensive compared to your own medical store. Now, we will discuss how to get pharmacy license in india?
# Step-by-Step process to start a Medical Store in India
Requirements to get the license for your stand-alone pharmacy shop or a medical store (and make a profitable medical store investment!):
1. Pharmacist
Firstly, are you a B Pharm / M Pharm?
If not, you might have to find a pharmacist willing to lend you his/her name against goodwill payment for registration purposes.
This is because you’ll need qualifications proof of a minimum of one Pharmacist (either owner or an Employee) to obtain a Pharmacy License for your medical store.
2. Sufficient Store Space
You’ll need a rental agreement or/and Ownership proof of premises with a minimum area of 10 square meters to start a medical shop business or pharmacy business or wholesale business.
In case, the pharmacy store combines retail and wholesale, a minimum of 15 square meters is required.
3. Investment
Again, your basic need will be a shop (rental or own) if you are targeting a local area. Just make sure you do your maths for a shop (buy/rent) + inventory to be bought initially. The rent for a place can be as small as Rs 10,000 to Rs 10 lac depending upon the city, location and size of your medical store.
4. Hiring Pharmacist
Importantly, at the time of the sale of the drugs, the presence of a competent person on the counter throughout the working hours is a must! Typically, you might have to set aside Rs 5,000 to Rs 30,000/month to maintain a pharmacist in your medical store.
In any case, this competent person can either be:
✔ A registered pharmacist approved by the pharmacy department or
✔ A graduate with 1 yr experience in dealing in drugs or
✔ A person who has passed S.S.L.C with 4 years of experience in dealing in drugs, specially approved by the department of drug control for the purpose.
5. Cold Storage Facility
Most importantly, the store must have a refrigerator on the premises.
This is because, according to the labeling specifications of certain drugs like vaccines, Sera, Insulin Injections, etc., are required to be stored in the refrigerator.
6. Be Digital Ready
Do not stick to the old and inefficient method of operating a pharmacy. Do business the smarter way! Managing business accounting like billing, inventory, bookkeeping single-handedly or with a bunch of people is challenging and can result in a lot of manual work without the use of technology.
Accounting App like Vyapar to help you run your medical store/pharmacy shop, manage inventory and ease up accounting stuff. Most of the businessmen out there use it to ease up their life.
7. Document Requirement
The documents required for starting a pharmacy store varies from state to state. However, the following is a suggestive list of documents required for obtaining a drug license in India according to the new rules for medical store.
- Pharmacy License application form in the prescribed format.
- Covering Letter with the intent of the application signed with the name and designation of the applicant.
- Challan of fee deposited for obtaining drug licenses.
- Declaration form in the format prescribed.
- Key plan(Blueprint) for the premises.
- Site plan (Blueprint) for the premises.
- The basis of possession of the premises.
- Identity proof and photos of owner/partners of a medical store.
- Proof of ownership of the premises, if rented
- Proof of constitution of the company(Incorporation Certificate / MOA / AOA / Partnership Deed)
- Affidavit of non-conviction of proprietor/partners/directors under the Drugs and Cosmetics Act, 1940
- Affidavit of a registered pharmacist or competent person working full time
- Appointment letter of registered pharmacist/competent person, if the employed person.
These documents decide your eligibility for a medical store license. After completing all requirements, one has to visit the drug inspector office and has to file the application for granting medical store and drug store. This is the procedure for obtaining a drug license for the medical store.
Vyapar Advice:
✔ Firstly, avoid renting/owning the shop where there are already Multiple medical stores to avoid unnecessary competition.
✔ Informally, you can always network with a Doctor / Hospital so that you can “tie-up” with them, this is the easiest way to access the customer base (again not ethical but most follow this route).
✔ However, IndiaFilings can help you start a pharmacy store in India. For more information, visit IndiaFilings.com.
# Types of Pharmacy Business
There are many different types of pharmacy and other places where a trained pharmacist can work. There are various other specializations in the field of the pharmacy business. Each of these is covered in more detail below:-
1. Community pharmacy:
Also known as a retail pharmacy, community pharmacy is the most well-known type of pharmacy. It follows that most traditionally known as pharmacists or chemist shops. A community pharmacist usually works in a store that gives the community access to the medicines they need, as well as advises them to promote the safe and effective use of the medicines provided.
2. Hospital pharmacy:
A hospital pharmacy is a place where medicines are administered in a hospital, medical clinic, or nursing home. Hospital pharmacies provide both inpatient and outpatient services. For in-patient services, you will work closely with other medical professionals such as doctors, nurses, and pharmacists to ensure accurate delivery of medications. For outpatient services, you will find yourself advising patients about their medications. It’s vital that patients understand when and how often they should take their medications, as well as dosage levels and instructions about proper medication because patient lives depend on it.
3. Clinical pharmacy:
Clinical pharmacy exists in many settings, including hospitals, nursing homes, and other medical centers. Clinical pharmacy aims to ensure optimal use of drugs for best results through drug information and monitoring and provision of drug safety and efficacy. They can predict drug interactions and therefore prevent many adverse reactions to the drug.
4. Industrial pharmacy:
Industrial pharmacy comprises the pharmaceutical industry and includes research, production, packaging, quality control, marketing and sales of pharmaceutical goods. An industrial pharmacist may work as a representative of a specialized pharmaceutical company to advocate the use of its products, as well as inform physicians about their functions and benefits.
5. Compounding pharmacy:
A compound pharmacy involves the production and preparation of drugs in new forms. This may involve fixing the powder tablet to a solution. For some patients, one-size-to-no-fit-when it comes to medications. Some people require medicines that are tailored to specific needs. Formulating these customized drugs is a practice known as the compound. As a pharmacy technician, you will assist a pharmacist in preparing these medicines. It can involve changing the strength, altering the delivery form, adding flavor, or removing an ingredient – just to name a few possibilities.
6. Consulting pharmacy:
Consulting Pharmacy is a relatively new branch of pharmacy, born in 1990. It focuses on the theoretical review of medicines rather than on the delivery of drugs. Consultant pharmacists often work in nursing homes or visit patients in-home to provide their services, so that they can use drugs most effectively.
7. Regulatory pharmacy:
Regulatory pharmacy also known as a government pharmacy, the regulatory pharmacy is responsible for enacting regulations and legislation for the safe use of the drug to promote positive health outcomes. This includes pharmacists working on public health and regulatory health boards, such as the Food and Drug Administration in the United States.
8. Homecare pharmacy:
Home care pharmacy mainly involves injection preparation and delivery to critically ill patients in the home environment. It is also sometimes referred to as an infusion pharmacy, as only the injected drugs are dispensed, not the drug administered in other forms such as oral or topical. They may predominate in one or another area of the disease, such as nutritional support, chemotherapy, mental illness or infection for oncology.
9. Retail pharmacy:
Pharmacists in pharmacy stores are the most common and visible places of employment for pharmacy technicians. Many grocery stores also have pharmacies nowadays. Working in a retail pharmacy means working on a retail lifestyle, which includes working on evenings and weekends. Retail work involves significant customer service contact, so you need to be a real person. In addition to helping pharmacists prepare prescriptions, you can expect to be asked questions about over-the-counter medications, vitamins, and supplements. Retail pharmacies are found in every region of the country and in big cities and small towns.
10. Mail order pharmacy:
An increasing number of patients are choosing prescriptions filled through mail-order pharmacies. While working in this environment, you have little contact with patients or normal people. Your job will mainly be to prepare prescriptions for shipment. When working for a company serving patients through mail order delivery, you can expect a fairly predictable schedule with regular shifts. Unlike retail, you probably won’t have to work in a “surprise” shift when the next worker is sick.
# Top 6 Pharmacy Franchise Business Opportunities in India
The medical industry in India is growing rapidly. Also, it is an evergreen industry. Although you can open your own medical store, starting a franchise is a better option for beginners. Actually, many brands are available in the market for many products. Therefore, for a first-generation entrepreneur, building a product line properly is extremely difficult. On the other hand, if you start out as a franchise partner of an established brand, you don’t have to think too much.
Currently, the health industry is doing very well in India. An increasing number of multi-specialty hospitals, polyclinics, corporate welfare programs, and medical tourism are also fueling the market. Here, List of the best Pharmacy Franchise Opportunities in India:-
1. Sanjivani Pharmacies:
Sanjivani is supported by NB Marketing Private Limited. It offers allopathic and homeopathic. Apart from this, it also provides Ayurvedic medicines. The company supplies OTC, surgical and general daily use products. Sanjivani Pharmacy franchise will reap many benefits. Visual aids, reminder cards, and gift items will be available in the store. All this will be given by the brand company. In this way, pharmaceutical stores will get a boost.
Investment Cost – 10 to 20 Lakh Rupees
This pharmacy franchise gives monopoly rights. This guarantees that Sanjivani will not have any other franchise stores around your area. Franchisees will get territory from the company. Therefore, you will be the sole dealer of Sanjeevani Pharmacy in that area.
2. Medlife International Pvt. Ltd:
Medlife is one of the largest online pharmacies and service providers in India. Medlife is a healthcare company. It is located outside Bengaluru, India. This pharmacy franchise has great business opportunities. MedLife wishes every Indian to get the best healthcare. It is a great digital presence. This makes it very easy to get a franchise.
Investment Cost – Around 20 thousand Rupees
3. Medplus pharmacy:
Medplus Pharmacy is one of the largest retail franchise chains in India. It is a network of pharmaceutical stores in 12 states. Pharmacy franchise business opportunities in more than 150 cities. It provides many types of support such as,
-
Help in selecting the right location for the store
-
Help finalize shop identification and lease
-
Complete layout plan, branding materials, and necessary furniture and systems
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Training for the franchise and its employees
-
Bank loan facility if necessary
-
Supply all products sold through the store, etc.
Investment Cost – 15 to 20 Lakh Rupees
4. SastaSundar Pharmacy:
SastaSundar is a digital pharmacy and healthcare store. There are 100–200 franchise outlets across India. It is not just for pharmacy. In addition to a pharmacy, there is beauty and healthcare. Apart from this, it is also for herbal and organic products. They offer zero investment in shares. Therefore, you can save a lot of money.
Investment Cost – 1 to 2 Lakh Rupees
5. MedZone:
Medzon Pharmacy Outlets is promoted by Ethics Healthcare. The first Medzone Pharmacy store opened in Bangalore. Today, Medjon is one of the leading pharmacy chains across India, serving countless customers daily. MedZone Pharmacy offers Ethics Pharmaceutical Products to its customers at reasonable prices. However, the franchise owner of Medjon is free to sell products from other companies as well.
Investment Cost – Around 1 Lakh Rupees
6. Easy Medico:
EasyMedico is one of the largest online pharmacies in India. EasyMedico is a pharmacy cum wellness retail in India. The franchise will cater to all types of pharmacy and wellness needs. Additionally, Easy Medico complies with its offline format. It is available online on the web and mobile. Currently, it operates in 2 cities, namely Indore and Kolkata. The total number of pharmacy stores is 10.
Investment Cost – 6 to 8 Lakh Rupees
# How to Use Vyapar for Your Medical/Pharmacy Business In Simple Steps?
Vyapar provides you Billing, Inventory management and Accounding for your medical shop and pharmacy business. Know How?
# Download Vyapar Software
To download Vyapar software Click on “Download Now”
After the completion of download, Install it and login with your details > Select Your Country > Click on “Select” Button.
Welcome to Vyapar.
You Have received a 15 days free trial. Start using Vyapar for your Medical/ Pharma Business Management
# Add Your Business Details
To add your company details you need to follow this –
At home screen in “Left menu” > Click on “My Company” or “Company name”> Here you can see the ‘Edit Firm’ window
Click on “More Information” option > You can mention all required details here such as Business name/ contact details/ GSTIN/ Email id/ Business address/ State/ Bank details/ Business Logo/ Signature > Click on “Save” Button
# Add additional Business details like Licence number/ Pan number/ Drug Licence number etc.
Except for existing field options, you can also enable some additional fields to enter a few additional details. It can differ from Business to business. To enable it follow this-
Click on Settings in left menu
Click on “Transaction” > Click on “Additional field” (it enables you to to add extra fields and give their names. These fields will be shown on invoice print out)
Select the transaction you want to enable the additional field for > Click on the “Done” button
# Add/ Import parties
In order to add a party, you can click on the “PARTIES” option located inside the Left-menu.
On the next page, you will have the option to “add parties” in Vyapar.
Following are the parties related information you can store in Vyapar:
| Party field | Significance |
| Party name | It’s the only mandatory field. The Names of debtors and creditors should be unique. |
| Party group | Can be enabled/disabled from “Party settings” It can be used to categorize various parties. |
| Party type | You can select the party GST registration type. To access this field make sure you have enabled the “GST” option from the “Taxes and GST settings” |
| Party GSTIN | Unique GST number of your party. If “GSTIN” from “Taxes and GST settings” is disabled you will get the option to update the party “TIN” instead of the party “GST”. If “GST” is enabled, make sure to keep “GSTIN” enabled from “General settings” |
| State | State of your party where they reside or where they’re registered. To access this field make sure to keep the “GST” option enabled from “Taxes and GST settings” as well as the “GSTIN” option from “General settings” |
| Phone number | Primary phone number of your party. You will be able to send “transaction messages” as well as “payment reminder” to this number” |
| Primary email of your party. You will be able to share invoice details to this email address. | |
| Address | You can use this field to store the registered/current address of your party. |
| Shipping Address | You can use this field to store the shipping address of your party. This field can be enabled/disabled from “Party settings” |
| Current balance | You can update any outstanding receivable/payable balance of the party. Make sure to select the “respective receivable/payable button” as well after updating the current balance of the party. |
| As on Date | Date of record of the current balance of the party. |
Click on “Save” button > Click on “Save & new” if you want to add more parties.
You can check all the parties are coming in parties list
# Add additional details of the Party
Additional fields can be used to store additional information about your party such as party PAN no, Aadhar number, Drug license number for pharma industries, TAN no, additional phone/email/address of a party, etc. You can enable a maximum of four additional fields, out of which 3 can be used to store inputs in the form of digits and alphabets Maximum of 30 characters allowed in the first 3 fields. Whereas fourth fields can be used to store as any date. You can use the forth field to store Date-of-Birth of a party, registration/joining date, etc.
Click on the “Settings” option in left menu
Click on Party
Enable the fields as many as you required
Enter the “field name” such as PAN no. > Enable “Show in the print” option to get this detail printed on the invoice
Now you will be able to enter the parties additional details at a time of adding party OR edit the existing one
Few More Points:
In vyapar you can seperate the parties in groups
You can also delete the parties if required
# Import Party
The party can also be imported altogether in excel format. Before you add or import parties, kindly make sure to enable/disable required options from the “Party Settings”
Click on “Utilities” in left menu > Click on “Import Parties”
Click on “Download sample”
Select the location to save file. The standard sample format is downloaded in your device.
Open the downloaded excel format and fill it with the required party details
Once the file is completed > Open Vyapar > Click on Utilities > import parties
Click on “Click here to browse” button
Select the file from the location
Check the list if any Party with error or not > If it’s Clear Click on “Import”
Click on “OK”
All parties have been imported successfully. You can check the party list
# Add/ Import Items or products
Inventory is a list of goods and services that a business holds for the ultimate goal of resale or reproduce. Inventory management is about specifying the count, shape, size, texture, expiry, and other information of stocked goods.
Holding inventory ties up a lot of cash. That’s why good inventory management is crucial for the growth of a business. Automated and good inventory management not just saves you money but also the time as well.
Inventory page can be accessed by clicking on the “Items” option, located inside “Left-menu”
Some of the Important features of Vyapar inventory are as follows:
1. Vyapar application allows you to maintain various attributes of items such as Serial/IMEI number, Expiry-date, Manufacturing-date, Batch number, Colour, Size.
2. You can assign units of items such as Kilogram/ gram/ liter/ piece/ box etc.
3. You can get an accurate track of your stocks before and after-sale.
4. You can maintain the value-proposition of items in your inventory.
5. You can categorize your items in your inventory.
Before adding your products in vyapar have a small look on the Item settings and enable as per your requirements
Click on the “Settings” icon
Click on “Item”
- Enable Item -Want to manage inventory
You can enable/disable the “items” option as per your requirement from the “item settings” If items are enabled, you can further customize other items related settings. - What do you sell – Select your inventory item-type (Products & Services)
You can select what you want to manage – products/ services OR both products and services. The relevant option can be selected from the drop-down menu by clicking on the option named “what do you sell” - Barcode Scan – Want to do billing in seconds with barcode scanning?
Enables you to scan the item code/ barcode/ serial number for your items at the time of creating transactions. - Stock Maintenance – Want to manage and track your stock?
You can also manage the stock of items (products only) added in Vyapar by enabling the “Stock maintenance” option. You will be able to check inventory reports and track the quantity and value of each item in your inventory. - Show Low Stock Dialogue – Want to get a warning if stock is not available?
Enabling this setting will show a confirmation window for low stock while making a transaction. - Item Unit – Want to assign a unit to inventory items?
This allows you to assign units for inventory items like Kilogram/ gram/ liter/ piece/ box etc at a time of creating or importing items. - Item Category – Want to categorize items?
This allows you to create different categories and assign items to them. - Party wise item rate – Want to set a unique item sale price for any particular party?
You can enable the “party-wise item rate” option from the “item settings.” While creating a sale transaction if you will modify the per/unit price of items for any particular customer then the application will set that price specific to the customer. Next time, if you will create a sale transaction of the same item against that particular party then you will get the last price/unit you would have set as default. - Description – Want to enter any specific/ additional detail of the item?
It enables an additional column for you to enter any additional details of an item at a time of making transactions. You can also change the text as per your requirement from description to anything you need by clicking on “Change text” - Item wise Tax – Want to apply tax on each item individually?
Enables you to apply tax separately for each item in your sale and purchase transactions. - Item wise Discount – Want to apply a discount on each item individually?
Enables you to apply a discount separately for each item in your sale and purchase transactions. - Quantity (Decimal places) – want to change the value after the decimal for item quantity?
Here you can specify the number of digits after decimal for item quantity. - Additional Item column (Item Tracking) – Want to manage stock with various attributes?
Once fields are enabled, respective fields will be available while adding items, importing items as well as while manually adjusting any item. You can enter the required details in the columns and maintain stock. You can also change/ edit the name of the columns as per your needs after enabling the same from the same place. You can enable the fields from here.
Another few settings related to Item you can enable from Settings > Taxes & GST
- HSN/ SAC code – Want to add HSN code in each item?
Enable you to enter the HSN/ SAC code of inventory item at a time of creating/ adding/ or importing items.
HSN – code for products.
SAC – code for service products.It is mandatory for every business, registered under the GST guideline to enter the HSN/ SAC code of products invoicing.
- Additional cess – Want to add additional cess items?
Enables you to add additional cess on an item at a time of creating/ adding/ or importing items.
Enable other Gst settings as per your Gst Registration Requirement
# Add product
In order to add a product click on “Items” in the left menu > Click on “Add Item”
Fill item Fields?
Item fields are the item related fields you update while adding/ importing items (product and services) in Vyapar.
Item name: Item name is a unique name of each individual item in your inventory. At any point of time, two or more items cannot have the same name. The item name is the only mandatory field to primarily add an item in Vyapar.
Item HSN/ SAC: HSN stands for Harmonized System of Nomenclature which was developed by the World Customs Organization (WCO) with the vision of classifying goods and services all over the World in a systematic manner.
As goods, services are also classified uniformly for recognition, measurement, and taxation. Codes for services are called Services Accounting Code or SAC.
Note: Make sure the HSN/ SAC code option is enabled from Settings. These HSN/ SAC codes must be declared in every tax invoice issued by the taxpayer under GST.
Item Code: Item code field stores item barcode. Just plug-in barcode readers and use it on the go. For Android apps, you can download “Vyapar Barcode extension” from the Google Play store. With the Barcode facility, you can easily bill items from your app. The app will automatically detect and scan items. It results in reduced time & mistakes while billing.
You can enable/disable the “Barcode Scan” option from the “item settings”
Category: Item category allows you to categorize items and then see various reports based on the category to understand your category performance.
“Item category” can be enabled/disabled from “item settings.”
You can also create a new category from add category in items
Select unit: Select unit allows you to assign a unit to the item. the same will get printed in the invoice next to item quantity.
“Item Unit” can be enabled/disabled from “item settings.”
You can also create a new Unit from add Unit page in items
Sale Price: The sale price of an item is the price you will be getting after the sale of each base-unit of an item.
Sale-tax Type: You can select either of these two sale tax types, depending on the sale price you will set for an item:
Inclusive: If the tax amount is included in the sale price of an item.
Exclusive: If the tax amount is excluded from the sale price of an item.
Note: In order to access the GST slab while creating items, please make sure that you have a “GST” option enabled from “Taxes & GST settings.”
Purchase Price: The purchase price of an item is the price you will be paying to your supplier after the purchase of each base-unit of an item.
Purchase-tax Type: You can select either of these two purchase tax types, depending on the purchase price you will enter for an item:
Inclusive: If the tax amount is included in the purchase price of an item.
Exclusive: If the tax amount is excluded from the purchase price of an item.
Tax Rate: The tax rate is the percentage of GST (tax) applicable to the item.
You can also create new tax rate or groups if the required rate is not available from Gst settings
Opening Quantity: The opening quantity of an item is the quantity of the item available for sale at the beginning of an accounting period. Or we can say item Quantity available at the time you are starting to maintain your business in Vyapar.
At price: The price of each base unit of an item at which the opening quantity of the item was purchased.
Date: Date of the beginning of the accounting period of an item.
Description: You may write the value proposition of an item in description. You can also write/modify item-description while creating transactions of an item and the same will get printed in the invoice.
“Description” field can be enabled/disabled from “item settings.” If the field is enabled, you can also rename the same.
Minimum Stock: It is the minimum stock quantity of an item set by you, below which if the stock quantity falls. The same item will be reflected in the “low stock item report.” then you can track them and save the stock from the “out of the stock” situation.
Item Location: Item location is the physical location of an item in your inventory.
Batch details/ Item tracking detail: if you enabled any additional item column from item settings then you will be able to enter the item details here with the particular column such as Serial no/ Size/ MRP/ IMEI no./ Batch no./ Exp. date/ Mfg date etc.
- Click on the “Item Tracking Detail” button in order to update item attributes and respective quantities.
1. MRP/ Price – Accepts only numerical value. It allows entering only 10 digits.
2. Batch no. – Accepts all numeric/ alphabetical/ special characters. It allows entering only 30 digits.
3. Exp. Date – Accepts the only Date. You can change the date format from here.
4. Mfg Date – Accepts the only Date. You can change the date format from here.
5. Serial no./ IMEI – Accepts all numeric/ alphabetical/ special characters. It allows entering only 30 digits.
6. Size – Accepts all numeric/ alphabetical/ special characters. It allows entering 80-90 digits.
Click on “Save” > Click on “Save & new” if you want to add more items.
Now the item is saved and available on the item list. You can get a separate list of products & services.
# Import Item
Click on the “Utilities” option located inside the” main-menu” > Next click on “import item”
Next, Click on “Download” > Download the sample file
Open it and Update your item-list in a defined format in that downloaded excel sheet.
Get back to the Utilities > Import Item > Click on “Click here to Browse”
Select the updated excel file containing the item-list.
On the next screen, see the list of valid item-line without error and click on “import item”
Next, acknowledge the “import successful” popup message. App will get restarted and you will be able to locate the imported items in the item list.
Now the item is saved and available on the item list.
# Create Transactions
Now you can start invoicing. In Vyapar you can create Sale, Purchase, Sale return, purchase return, Sale order, purchase order, Estimate/ quotation, Proforma invoice, Delivery Challan, Payment-in, Payment-out
To create a sale click on Sale invoice
Select sale type cash or credit
Select Party name
Select Product name
If you already added the tracking details it will show you the list of products with details (select the product you want to stock out first) > Click on “Done”
You can also add the product only by scanning barcode or serial number by clicking on scan icon in the left of the item line
Here you can scan the barcode and make billing faster
Once the products added fill payment type, received amount and other details and click on “Save” button
Check the preview and share the invoice with client on whatsapp, email or print out
You can also check all your transaction reports and stock reports in the reports section.
# Where to get Inventory reports?
Reports can be accessed by clicking on the “Reports” option located inside “main-menu.” On the next page, users will be able to locate “Item/Stock report.”
We have various kinds of inventory/Stock available in Vyapar. Such as:
1. Stock summary- Check all items sale price, purchase price, current stock quantity and stock value in a single report on particular date. If you have created and categories, then you can filter for category as well.
2. Item report by Party- It gives you information about the total sale and purchase of items in terms of value and quantity. Users can also check total sale and purchase against any party for each individual item by using a party filter, between any particular date.
This report also gives you information about:
- Highest selling items: Often you can ask for Offers / Deals to suppliers of these items. It helps to boost customer engagement and business Profitability.
- Least selling items: These items can be a reason for the loss in business. Take feedback on these items from customers and improve on it.
- Highest buying items: It Helps to Pre-plan sales accordingly.
- Least buying items: If these items are less in demand, find alternatives with better quality.
- Top/bottom supplier and customers: It helps to measure who your top /bottom suppliers and customers are.
- Investment strategy: It also gives you information on which items you need to Invest or not to Invest.
3. Item wise profit & loss – It gives you information about the profit generated by the sale and purchase of each individual item. It helps you to find out if you’re making more money than you’re spending on purchasing an item.
Formula to calculate item wise profit & loss:
(Sale amount – Sale return amount) – (Purchase amount – Purchase return amount) + (Closing stock value – Opening stock value) – (Tax payable -Tax receivable)
NOTE: If the final result is in positive it means profit and if the final result is in negative it means loss.
4. Low Stock Summary Report: It helps you to get a list of stock items that are about to get out of Stock shortly. It shows the list of all items are below minimum stock quantity defined by you while adding stock-items.
This report can be helpful to avoid loss of sales and customer dissatisfaction due to the unavailability of stock.
5. Stock Detail Report: It helps you track inventory levels accurately, instantly and effortlessly. With this, it’s easy to prevent both internal & external frauds. You can check the beginning quantity of items, total quantity of items came to your inventory, total quantity of reduced from your inventory and at last your closing stock quantity of items. You can also filter data with multiple filter options.
6. Item detail reports- It gives you information about total sale quantity, purchase quantity, adjustment of item stock and closing quantity of a selected item on any particular date.
7. Sale/ purchase report by item category – It gives you information about total sale quantity, purchase quantity, total sale amount, total purchase amount of all item categories by using a party filter, between any particular date.
8. Stock summary report by item category – is one which shows you every item categories stock “quantity” & “ value” it holds.
9. Item stock tracking report- the very important report for Medical business. It gives you information about the individual item stock according to item attributes. Specially to track Expiry products.
You can export these in PDF or XLS formats and share with stakeholders or people concerned. Options for Excel/PDF import can be located on the top-right corner of the screen.
# Check Transaction Reports
Check Balance Sheet
Check Profit & loss account
Get party statements and share with them
Get Ready GST reports and make GSt filing easier
Check Bank statement
Happy Vyaparing With Vyapar App. For any further query please visit our website www.vyaparapp.in or contact us on call +919333911911, Whatsapp +916366827420
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