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Category: Accounting

What are the Types of GST Returns: Forms, Due Dates & Penalties

GST (Goods and Services Tax) was introduced in the year 2017 to unify different indirect taxes under one umbrella. As a result all entities involved in business activities were mandatorily required to complete GST registration before filing forms for GST return, offline or online. What is GST Returns? With business owners and dealers having to…

June 18, 2020
BRS in Tally: How to Perform Bank Reconciliation in Tally

A bank reconciliation statement is an important financial document which compares the amount on a company’s balance sheet with the number mentioned in its bank statement. What is a Bank Reconciliation Statement and Why is it Needed? By performing bank reconciliation statement in Tally, it is ensured that the cash entries made by the company…

June 16, 2020
15 Best Money & Expense Manager Apps for Android in [c_y]

When it comes to money, not all of us are experts in finance. Therefore, it is sensible that we spend it wisely and understand where it is being used irresponsibly. If you are some who is having a hard time understanding where all his monthly income is going, or someone who has always struggled in…

June 1, 2020
New Invoice Rules Under GST for FY 2020-21

On Saturday, February 1st, 2020, the Finance Minister of India, Nirmala Sitharaman, presented the Union Budget for FY 2020-21. As the Annual budget 2020-21 commenced, the citizens of India, businesses and organisations held their breaths to know about the change in the various rules in taxation, benefits and reliefs presented by Finance Minister Nirmala Sitharaman.…

February 5, 2020
What is MIS Report & How to Prepare It [In Tally & Excel]

Summary: A management information system (MIS) report is an important tool for organizations to gain valuable insights from data presented in a readable format. These reports are essential to measure business performance in terms of the set goals. Keep on reading to learn how you can create an MIS report for your business. MIS report…

January 21, 2020
Types of Voucher in Tally ERP 9 to Manage Transactions

As a business owner, you have to continuously record transactions for the purpose of accounting, inventory management and statutory compliance. In order to do this, different vouchers such as receipt voucher in Tally, journal voucher in Tally, etc. are used. A voucher is a document that is used by the accounting department on an organisation…

January 8, 2020
13 Best Free GST Billing Software – Free Download

Billing is one of the most crucial steps of any business transaction. It is also one of the processes which is prone to miscalculations. With the GST regulations introduced by the Government of India on 1st July 2017, all businesses are now complying to GST regulations. Calculating GST on a specific product or a service…

January 4, 2020
How to File GSTR 1 Using Tally.ERP 9 – A Step By Step Guide

The Goods and Services Tax Return 1 form is an official document that every registered tax payer has to file monthly quarterly. All the tax payers have to enter their details about their sales & supplies in this form. It should contain the details of all the sales done and the supply of goods and…

November 2, 2019
How to Get GSTIN Number in India

GST or Goods and Services Tax has brought about a revolution in the way taxes were calculated and paid in the country in the past. Under the previous tax regime, taxes and registration numbers were separate for state and centre. But with the introduction of GST, all these processes and taxes came under a single…

November 1, 2019
How to file GSTR-3B Online and What is GSTR 3B?

The implementation of GSTR-3B in the country has transformed the way individuals and businesses pay taxes. But there are various aspects of GST that people aren’t familiar with, such as how to search and verify GSTIN and what are different parts of GSTR 3B filing & returns. One of the most essential facets of filing returns is…

October 4, 2019