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How are GST Billing Solutions Helping SMEs
The biggest challenge that most entrepreneurs encounter when it comes to accounting, billing, and product inventory is the lack of experience to handle all of these tasks efficiently. As a result, there are frequent errors and inaccurate data, impacting the overall productivity. This is where employing a third-party platform like specialized GST Billing Software can…
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5 Best Financial Statement Analysis Tools and Software
Financial statement analysis of a company is important for its creditors, shareholders, investors, top-level management, government, customers, and all other stakeholders. It helps them to assess the financial health of the company and predict its future growth to make informed decisions. For example, if a company had made sales of 1 Crore and a net…
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Depreciation Entry in Tally Prime and ERP 9 (with Examples) [c_y]
![Depreciation Entry in Tally Prime and ERP 9 (with Examples) [c_y]](https://cdn.techjockey.com/blog/wp-content/uploads/2022/10/31152224/Depreciation-Entry-in-Tally-Prime-and-ERP-9-with-Examples-2022-_feature.jpg)
The importance of recording depreciation cannot be overstated. Depreciation is a critical element in business accounting, compliance, and tax calculations. Depreciation entries help businesses keep an accurate record of their assets, track the value of those assets over time, and claim tax deductions for the cost of those assets. However, passing depreciation entry in Tally…
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How to Add Digital Signature in Tally Prime
Invoices and other documents generated from Tally Prime must bear a signature for internal control, audit, banking, and other legal purposes. However, when a document is shared in digital format the only way to verify it is the digital signature, assuring that the document has been reviewed and verified by authorized personnel. You can add…
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Step By Step Guide to Make TDS Entry in Tally (with Practical Examples)
(Tax Deducted at Source) TDS is one of the most common entries to be passed while receiving and making payment. It involves proper calculation, posting it in the right ledger, and reconciliation. In this post, we will guide you in passing TDS entry in Tally. We will provide practical examples for TDS Journal entry in…
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7 Best (Paid and Free) Bill Splitting Apps to Share Expenses for Android and iOS
If you have ever lived away from your family with roommates, you must know that sharing expenses is the most hectic job. There are a lot of ways to divide expenses and bills among housemates, like recording expenses on notebook or on an excel sheet. However, these methods are extremely prone to missed expenses, wrong…
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Income Tax for Freelancers: Self Employment Tax Benefits & Deductions in India
As per the report of DNA published in 2022, 51% of Indians are self-employed. The reason that most Indians are self-employed is because it offers people greater control over their work schedules, unlimited scalability, and direct benefits. However, the biggest benefit of all when it comes to being self-employed is that people get to keep…
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How to Maintain Cash Book and Ledger Book in Excel & Tally for Small Businesses
Maintaining books of account is important for any business, whether big or small. Ledger and cashbook are among the most crucial accounting records as it helps business owners to track expenses, income, cash flow and other financial information of the company. But most business owners fail to maintain these books consistently, just like the new…
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How to Process Payroll in QuickBooks: Step by Step Guide
Processing payroll is a crucial activity in any organization. Payroll calculation can be complex based on changing salary structures and new laws and regulations. Here, using accounting software like QuickBooks can assist you and make timely payroll processing hassle-free. Here, in this article, we’ll discuss the payroll process in QuickBooks and its implementation. We have…
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Comparison of 10 Best Accounts Receivable Software for Businesses
Accounts receivable (AR) management is vital to the success of any business, small or large. When done efficiently, it helps mitigate the chances of overdue payments or non-payments by customers for the services or goods you provide them. This helps improve cash flow and hence, the company’s financial position. AR processes can be streamlined by…