Are you frustrated with delayed payments that are just hampering your cash flow? Don’t worry, think of a solution that can resolve all these payment issues. A platform that streamlines your invoicing, automates payment reminders, and ensures timely payments at every time. No it’s not your imagination, it’s all possible with modernized billing solutions. That… Continue reading 5 Ways Online Billing Software Reduces Payment Delays!
GST Updates 2025: Everything You Need to Know About New Changes in GST
2024 was a transformative year for the indirect tax system in India, i.e. GST. We witnessed unprecedented reforms in the GST, such as the Amnesty Scheme, the re-introduction of the form GSTR-1A, the implementation of the Invoice Management System (IMS), and the facility to declare negative tax liability. These were the major updates in GST… Continue reading GST Updates 2025: Everything You Need to Know About New Changes in GST
Comparing Financial and Cost Accounting Systems in Management
The success of any business depends on the profitability of the products or services a company offers. The profitability of a business is a function of sales price and the cost incurred. Increasing sales prices beyond a specific limit can give you an edge over your competitors and may capture your market share. So, as… Continue reading Comparing Financial and Cost Accounting Systems in Management
Accounting Standards: Everything You Need to Know!
In this fast-paced world, where numbers, accuracy, and transparency become the cornerstone of reliability in financial reporting. But how can businesses, irrespective of their size and type, depict the same financial language? Here’s where accounting standards- the universal guide for the financial journey come into play. These standards ensure consistency, comparability, and justice to the… Continue reading Accounting Standards: Everything You Need to Know!
ARN Number: How to Track GST Registration & Application ARN Status
Have you ever tracked your order on e-commerce marketplaces to see when it will get delivered? How does it feel knowing the latest status of your order? It feels like you are informed, right? How would you feel knowing that a similar system is implemented in the GST registration process? Yes, you read that right.… Continue reading ARN Number: How to Track GST Registration & Application ARN Status
Management Accounting – Meaning, Importance, Types, and Techniques!
Imagine you are the captain of the ship. You are steering the ship across unchartered waters without a compass or a map. Does this sound daunting to you? Management accounting is similar to that crucial map for businesses that navigates the complexities of financial processes to simplify decision-making. In today’s rapidly evolving business space, financial… Continue reading Management Accounting – Meaning, Importance, Types, and Techniques!
International Financial Reporting Standards: Gateway to Foreign Investment
International Financial Reporting Standards (IFRS) is a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB); these accounting standards or frameworks are accepted by India. In 2011, the Institute of Chartered Accountants of India released a concept paper on the strategy of adoption of IFRS in India. This move was… Continue reading International Financial Reporting Standards: Gateway to Foreign Investment
Bank Reconciliation Statement: Everything You Should Know!
Reconciling bank accounts is not just a financial task- It is a crucial process to find and fix discrepancies between bank receipts and fiscal records. But what are your thoughts on bank reconciliation statements? Here’s a complete guide for you! Let’s unravel the insights into the topics and get clarity into your financial journey! What… Continue reading Bank Reconciliation Statement: Everything You Should Know!
From Paper to Proof: Role of Cash Receipts in Accounting
Imagine this: Mr. A, owner of ABC Enterprise. It happened once; he remembered that a payment of Rs. 50,000 was pending from Mr X’s end (who happens to be Mr A’s client). He checked his bank account statement but could not find any credit entry from Mr X. Then he decided to follow up with… Continue reading From Paper to Proof: Role of Cash Receipts in Accounting
GSTR-2A and 2B: What is the Difference?
GSTR-2A and 2B sound confusing to taxpayers due to their overlapping compliance responsibilities. However, they have distinct roles that ensure report accuracy and seamless ITC reconciliation. Let’s check out what is GSTR-2A and 2B, along with their differences. What is GSTR-2A? GSTR-2A refers to a dynamic tax return on purchases made, and it is automatically… Continue reading GSTR-2A and 2B: What is the Difference?