Category: Accounting

When you begin to initiate a small business, it’s easy to be caught up with the thrill of putting new goods out into the market, hearing from customers, and dreaming of your next master plan. But as any successful business person will attest, it is the dirty work of invoicing, tracking expenses, and paying bills…

Picture this: A crowded store in the middle of an Indian bazaar. Customers enter one by one, goods sell rapidly, and the cashier writes bills in a till. Amid confusion, an error in calculation results in an argument. The customer leaves, disgruntled, and you miss a sale.   Now, picture the same store, but with…

In the modern fast-paced retailing scenario, supermarkets and grocery stores are perpetually tasked with optimizing operations, ensuring maximum customer satisfaction, and managing inventory levels effectively. Supermarket and grocery store billing software is a standard solution to this problem. So why is such software so pivotal to success? Think about savoring the ease of managing a…

For any business, anything that contributes to the generation of value, including intellectual, financial, social, or physical, is known as capital. Capital is the foundation for your business’s financial health and success. It is fundamental to all your financial transactions and decisions that not only allows you to cover your day-to-day expenses but also measures…

Asset account is a subcategory within a company’s general ledger depicting the value of assets owned by an organisation. The assets owned by an organisation represent economic value and are expected to provide benefits in the future. For businesses, these assets also find their way into the balance sheet, and for them, they also generate…

Even though no business likes to be in debt, it’s an unavoidable part of the process. What we call debt, accountants call liabilities in their accounting books. If debt is there, it’s essential that accountants can find and record it in the books. This guide is dedicated to sharing all the information you need to…