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Accounting

Cash vouchers are vital in facilitating financial transactions and tracking expenses for firms and organisations. Cash vouchers are valuable instruments for recording and monitoring...

Accounting

When a company purchases goods or services, there may come a time when they need to return them due to various reasons such as...

Accounting

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...

Finance

“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...

Finance News

Finance

Profit maximisation and wealth maximisation are two different approaches to business. The main focus for any business is profit maximisation, but many people need...

GST

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...

GST

What is letter of credit? A letter of credit, or LC, is a legal document that ensures the buyer will pay the seller. It...

Invoicing

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...

Accounting News

QRMP Scheme QRMP Scheme

TAX

The Indian government has introduced the QRMP plan to make it easier for small business taxpayers to file taxes.  What is the QRMP scheme?...

Days Sales Outstanding (DSO) Days Sales Outstanding (DSO)

Accounting

Definition of DSO Days Sales Outstanding (DSO) measures the average time it takes a business to get payment from a client after a transaction....

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...

GST

What is Form 16? This Form 16 is a certificate issued by your employer. It certifies the details of your salary for the year...

TAX

Before the ITR filing process, there are many documents you need to keep in handy. Form 16A is one among them. What is Form...

Registration

Udyam registration is a certification specifically for MSME enterprises operating in India since 1st July 2020. It is another name for MSME Registration, and...

Banking

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....

Loan

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...

Loan

In the beginning, every business needs a certain amount of money and financial strength. When it relates to the establishment of any enterprise, capital...

Banking

What is Credit Limit? The credit limit of a credit card refers to the maximum amount of credit a bank or other lender will...

Accounting

The majority of businesses establish credit arrangements with their suppliers or consumers, allowing customers to make purchases on account. Credit purchases speed up commercial...

Inventory

What is Inventory Turnover? It is the rate at which a company orders and replaces its stock depleted by sales. It includes all the...

TAX

A TDS challan is a document that deposits taxes deducted at source (TDS) with the government. The challan records taxpayer details, the tax amount,...

Scheme

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...

Banking

Financial stability is commonly regarded as the foundation of any organisation. When a business is involved in sales or purchases, it is necessary to...

Finance

Financial reporting gives you an insight into the financial performance of a business during a certain period. Tracking business metrics allows you to stay...

Banking

A cancelled cheque is a cheque having two parallel lines drawn across it with the word “CANCELLED” written in between. A cancelled cheque leaf...

Bookkeeping

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,...

Business Ideas

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...

Accounting

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

Inventory management is one of the biggest roles of a business. It is very important for businesses to understand the nature of their business...

Inventory

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...

Accounting

An itemized inventory of all the components necessary to make or sell a product is termed a Bill of Materials (BOM). Succeeding are the...

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