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7 Best Accounting Software for Trucking Companies
Trucking services are crucial for the working of various industries as they keep the supply chain moving across land routes. Hence, trucking companies are necessary for any country’s economy. One of the major challenges for trucking companies is the management of accounting tasks like payment of drivers, tracking of expenses, filing taxes, etc. Maintaining accuracy with these…
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What are Common Accounting Errors and How to Prevent them?
Accounting errors are common mistakes that might occur during recording various accounting entries. These errors are unintentional and not fraudulent in nature. But you need to get rid of them to have a clear and error-free account statement. A correct account statement is necessary to know the correct status of a business. The figures help…
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10 Best Free Accounting Apps for Small Business & Bookkeeping
Keeping track of finances and cash flow is important for any business regardless of its size. Proper bookkeeping ensures that records are organized and up to date so that businesses can understand their revenue, check account balances, predict profitability and tax liabilities, etc. However, unlike large organizations, small businesses do not have many employees in…
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How to Enable the Feature for Payroll Entry in Tally
Payroll creation is an essential feature in Tally accountancy software, widely used by most small businesses. It helps generate accurate pay slips and maintains the pay records of all the employees. Payroll creation in Tally ERP 9 also assists in calculating various statutory deductions and contributions. Tally ERP 9 has payroll creation features to simplify…
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What is the Purpose of Financial Management in Tally?
Tally is comprehensive accounting software that records, tracks, and retrieves all the financial transactions, maintains compliance, prepares financial statements, and much more. However, there is more for managers and business owners in Tally. It helps business managers in the financial management of the company. The primary purpose of financial management in Tally is to help…
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Top 10 Advantages of Accounting Software for SMBs and Startups
Small business owners find accounting software useful in managing their finances, accounts payables & receivables as well as getting a clearer picture of their profit levels. Most firms select accounting systems based on their business type, number of users, and functional requirements. Scalability, integration, accurate data entry, financial summaries, and user-friendly interface are other key…
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Difference Between Tally ERP 9 Vs Tally Prime
Even though Tally ERP 9 became India’s most popular accounting software, the developers were not ready to settle for it. Tally Solutions released the cloud-based state-of-the-art version Tally Prime in 2020. The major highlight of Tally Prime was it could be deployed even on the cloud. Developers have tried to keep the functioning of Tally…
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How to Create Performa Invoice in TallyPrime
Invoicing is an integral part of any business, but it’s the final step before receiving payment. Before sending a bill requesting payment, companies must send clients an estimation of the cost of goods or services delivered or to be delivered. Providing clients with cost estimation helps sellers in timely payment receipts and lower disputes. That’s where Performa Invoice comes into the sales process. TallyPrime helps businesses create and print…
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Step By Step Interest calculation in Tally (Simple & Advanced Mode)
Calculating interest is a part of day-to-day accounting for any organization. Accurately calculating interest for multiple accounts is a tedious task that could consume most of an accountant’s day. That’s where Tally comes to the rescue. Interest calculation in Tally is one of the main functions. Accurately calculating interest for multiple accounts is a tedious…
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Computerized Accounting System: Advantages & Disadvantages
With the end of the financial year around the corner, how do you plan to ensure the success of your organization? Definitely by calculating your revenue and expenses and eventually estimating your profits. But all of this requires accurate accounting which is hard to achieve manually especially if your organization is involved in complicated financial…