-
What is the Difference Between Financial Accounting and Management Accounting?
Financial and management accounting are the two branches of a system that help companies produce statements and records for all business events and transactions. Financial accounting helps generate precise financial records, whereas managerial accounting helps manage quantitative/qualitative information for profit maximization. What is Financial Accounting? Financial accounting is a procedure used for creating financial statements…
-
What are the Important Rules for Income Tax and IT Returns?
As the new financial year has started, it is important that salaried employees and “taxpayers” fulfil the critical financial tasks on time. We provide you here with a checklist of the key functions to help you make all essential tax-saving investments. Make a note of these financial obligations & tasks for the new financial year…
-
What is Bookkeeping? Types, Benefits & Examples
Your business is involved in numerous financial transactions on a daily basis, which might need to be furnished to the authorities at the end of each financial year (or any other relevant period). Be it small or big, each organisation needs to have bookkeeping software to record transactions without any hassle automatically. What do you…
-
Offline Vs Online Accounting Software – Quick Comparison
Let’s admit it. As a business owner, you don’t really like accounting. It can be inconvenient and far too often boring. And this is where accounting tools step in. They increase your efficiency when it comes to managing your finances. You can easily manage all your liabilities, such as tax owed to the government, each…
-
What is Accounting: Types, Benefits and Best Practices
Accounting is a critical business process for companies operating in different industries. Different businesses are involved in various types of accounting based on their revenue stream. Let’s learn about the accounting basics in detail. What is Accounting? Accounting is the process of recording and analysing the financial data of an organisation. All financial transactions are organised…
-
374% Rise in Accounting Software Related Searches in 2020-21: Techjockey Insights
2020 has been a tough year for businesses, especially SMBs. Smaller firms, mainly from non-metro cities, had to up their game for sustenance in the pandemic wave. FY 2020-21 Roundup: How Accounting Software Supported SMBs Sustenance However, digitally-enabled SMBs were in a comparatively better position than the others. A smarter approach to tech adoption and…
-
Cash Basis Vs Accrual Basis of Accounting: Which is Better?
Small and medium scale enterprises have to endure a tough time while selecting the most appropriate accounting method for your organisation. The choice boils down to two options- which one to select out of cash vs accrual accounting. If you are a business owner facing this same conundrum, then this article is for you. Different…
-
10 Best Bookkeeping Apps for Android & iPhone to Manage Small Business Accounting
Mobile bookkeeping apps are used for simplifying and expediating accounting procedures. Businesses and organizations use paid and free online accounting software for creating as well as sending estimates to prospective customers. Once these potential customers turn into fixed clients, daily accounting apps help with preparing and tracking all future invoices. You can also use the…
-
Cloud Computing in E-Commerce: A Passing Trend or The New Normal
A major shopping trend has surfaced over the last few months – Retail sales has taken a backseat, while the eCommerce is seeing upticks. While retail sales in the US is likely to decline by 10.5 percent this year, eCommerce seems to brave the storm with a projected growth of 18 percent in 2020. This…
-
How to Change Contact Details in GST in 5 minutes? Follow These Steps
Contact information is of utmost importance when filing for GST returns as all the communication regarding updates, status, etc. would be directly sent as notification to the mentioned email id and telephone number. After adding all the requisite information, you can opt for changing the provided email ID or mobile number as and when the…