A Day Book is a book of original entry in which day to day transactions are recorded by accountants chronologically. Further, the transactions are transferred into a ledger and then summarized into a set of Financial Statements. For some, day book is a well but for many it’s a sea. Difficulty arises when you need […] Read More . . .
Every one of us must have surely visited a restaurant and have never received an A4 size invoice/bill ever. Rather at most places we get Thermal bills be it a fine dine, self-serve buffet or take away. Restaurant is just one such example, majorly all automated invoicing retail stores have the same thermal billing process […] Read More . . .
Since the enforcement of E-invoicing in October 2021, many changes occurred in the E-invoice generation process. Initially, it was made mandatory for businesses registered under GST with an aggregate annual turnover of more than Rs.500 crores, which was then reduced to Rs.100 crores in January 2021, Rs.50 crores in April 2021, Rs.20 crores in April […] Read More . . .
Tax Deducted at Source (TDS) was developed by the Indian Income Tax Department to collect tax from all sources of income. It is the amount deducted from a person’s income and remitted to the Central Government by an authorized deductor. It is an advance tax and is totally a deductor’s (the one paying an income […] Read More . . .
Be it an expected forthcoming expense or expected liability or depreciation of asset or doubtful debts or any such expected or forecasted hit (through business analysis) on your company’s pocket, it needs to be addressed and provided against your current profits in order to be rest assured and hassle-free running of your company. You, as […] Read More . . .