Invoicing
You might often get confused about what invoice to send as there are many, based on due dates, type of industry, compliance requirements, regional...
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Cash vouchers are vital in facilitating financial transactions and tracking expenses for firms and organisations. Cash vouchers are valuable instruments for recording and monitoring...
When a company purchases goods or services, there may come a time when they need to return them due to various reasons such as...
Bills payable are short-term debts that a company owes to creditors. A company’s balance sheet is a financial statement that provides a snapshot of...
“Are you a small business owner in India looking for ways to reduce your tax burden and invest in your company’s growth? Have you...
Profit maximisation and wealth maximisation are two different approaches to business. The main focus for any business is profit maximisation, but many people need...
What is Meesho? Meesho is the biggest and most reputable reseller marketplace in India. It is an e-commerce platform where resellers can sell products...
What is letter of credit? A letter of credit, or LC, is a legal document that ensures the buyer will pay the seller. It...
What is a Bill of Supply? A company that is GST-registered sends the purchaser a tax invoice. Such an invoice specifically states the GST...
The Indian government has introduced the QRMP plan to make it easier for small business taxpayers to file taxes. What is the QRMP scheme?...
Definition of DSO Days Sales Outstanding (DSO) measures the average time it takes a business to get payment from a client after a transaction....
You might often get confused about what invoice to send as there are many, based on due dates, type of industry, compliance requirements, regional...
What is Cost Accounting? Cost accounting is a method used in business to track, analyse, summarise, and research a company’s expenses related to any...
What is Form 16? This Form 16 is a certificate issued by your employer. It certifies the details of your salary for the year...
Before the ITR filing process, there are many documents you need to keep in handy. Form 16A is one among them. What is Form...
Udyam registration is a certification specifically for MSME enterprises operating in India since 1st July 2020. It is another name for MSME Registration, and...
What is mPIN? mPIN means Mobile Banking Personal Identification Number. It’s a 6-digit passcode you must enter each time you want to conduct transactions....
What is Udyogini Scheme? The Women Development Corporation’s Udyogini Scheme provides subsidised loans to budding women entrepreneurs from rural and impoverished areas. Udyogini, “Women...
What is Mahila Samridhi Yojana The Indian government introduced the Mahila Samridhi Yojana (MSY) as a programme to give women working in the unorganised...
What is an SME Loan? An SME loan is specifically designed for small and medium-sized enterprises (SMEs). These loans help businesses expand, invest in...
In the beginning, every business needs a certain amount of money and financial strength. When it relates to the establishment of any enterprise, capital...
What is an MSME Loan? If you are an owner of an MSME, you can obtain an MSME business loan to expand your business,...
What is Credit Limit? The credit limit of a credit card refers to the maximum amount of credit a bank or other lender will...
For a layperson, a barcode may be just a set of black lines on a white surface. But in reality, entire inventory systems run...
Inventory management is a complete task in its own right. From keeping track of the stock to ordering and purchasing new items, it is...
What is PAN Card & PAN Number? Full-form of PAN : Permanent Account NumberPAN Number is a 10-digit alphanumeric Permanent Account Number provided to...
Every individual has the right to access medicines and drugs for their physical and mental well-being. The store that manages the distribution and sale...
The majority of businesses establish credit arrangements with their suppliers or consumers, allowing customers to make purchases on account. Credit purchases speed up commercial...
What is Inventory Turnover? It is the rate at which a company orders and replaces its stock depleted by sales. It includes all the...
In earlier times, tax-paying used to be a manual job. An individual or a company had to pay their taxes at their respective banks,...
What are the Difference between a Debit Note and Credit Note BASIS DEBIT NOTE CREDIT NOTE Definition A Debit Note is a detailed document...
A TDS challan is a document that deposits taxes deducted at source (TDS) with the government. The challan records taxpayer details, the tax amount,...
Inventory management techniques: Only by adopting effective methods of inventory management as per the standard the inventory management techniques will be successful. Depending on...
The Ministry Of Skill Development and Entrepreneurship (MSDE) has launched the program of building state-of-the-art, visible, and aspirational model training institutes in every district...
Plastic money, that is, credit cards and debit cards, has been increasing in use in recent times. Many people prefer to use credit and...
Debtors Turnover Ratio Formula No business can afford to conduct all transactions in cash; thus, making credit available to clients is a requirement. But...
Financial stability is commonly regarded as the foundation of any organisation. When a business is involved in sales or purchases, it is necessary to...
Keeping track of a company’s financial transactions, organising them for future reference, and creating financial statements is known as bookkeeping. Organisations use either a...
Consumer products that are sold quickly at a relatively lesser price are categorised as fast-moving consumer goods which in short is known as FMCGs....
Financial reporting gives you an insight into the financial performance of a business during a certain period. Tracking business metrics allows you to stay...
Upgrading a cash register to a point-of-sale (POS) system is likely to be a difficult task. However, due to the POS system’s increased operational...
What is a POS system? A point of sale is a point where customers checkout with the items they have purchased. A point of...
What is Cost Sheet? A cost sheet is a statement that records all the costs a business incurs from production to sales. Using this...
“Failed to establish a connection to the server. Kindly restart the EmSigner.” You must have encountered this error on the GST portal while filing...
A cancelled cheque is a cheque having two parallel lines drawn across it with the word “CANCELLED” written in between. A cancelled cheque leaf...
Medical stores never go out of business. Even during the global pandemic, when most parts of the world were in lockdown, medical stores were...
The month of April marks the beginning of a new financial year in India. With the new beginning comes the new changes in taxation...
As the Financial Year 2021-22 is about to end in a couple of weeks, businesses need to make sure certain things related to GST...
Unified Payments Interface (UPI) has changed the face of money transactions in India. In the initial days of the Covid-19 pandemic, when people were...
The industry is where goods and services are produced on a huge scale. A country depends on its industries for economic development, while the...
The purpose of most businesses is to sell more and generate profit. A major part of this is the company’s cash flow. Cash flow...
Financial statements are extremely important from a business point of view. Whether you’re a large scale multinational corporation or a small and medium enterprise,...
India has been an agriculture-based economy for ages. The sector contributes around 20% to the country’s overall Gross Domestic Product (GDP) and employs about...
Presented on 1st February 2023, the Union Budget 2023-24 proposes the following benefits for the MSME lot. Budget 2023 for MSMEs Relief for MSMEs...
With a large number of small businesses and MSMEs still struggling to get back to normalcy due to the ongoing pandemic, the Union Budget...
With the rise of digital money and transactions, it is important for every individual and business to know what a Virtual Payment Address is....
The balance in your checking account at the beginning of any given day is what is referred to as the ledger balance. Each day’s activity...
Inventory management is one of the biggest roles of a business. It is very important for businesses to understand the nature of their business...
Keeping a check on your inventory and the prices at which the raw materials were bought and the prices at which they need to...
What is Order Management System? An order management system is nothing but an electronic method to handle the lifecycle of an order. Moreover, it offers a...
An itemized inventory of all the components necessary to make or sell a product is termed a Bill of Materials (BOM). Succeeding are the...