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Monthly Archives: February 2022

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Profit and Loss

What is a Profit and Loss Report?

BookkeepingBy CA Mohnish KatreFebruary 11, 2022Leave a comment

Businesses operate to make profits while minimizing expenditure. To do so, companies need to document their expenses and income. A company can do this in various ways. One of the most effective ways that one can resort to doing so is by creating a financial statement. A financial statement provides information that can help assess…

Journal

What Is an Accounting Journal?

BookkeepingBy CA Mohnish KatreFebruary 9, 2022Leave a comment

If you own or manage a company or know someone that does, you know that businesses account for all the expenses made for their upkeep. It is crucial to keep a record of transactions made by them to maintain economic stability. Several unaccounted transactions cause an imbalance in financial statements such as balance sheets, leading…

Debit and Credit

What is a Debit and Credit?

BookkeepingBy CA Mohnish KatreFebruary 7, 2022Leave a comment

  When it comes to accounting and bookkeeping, Debit and Credit are the two words you shall come across the most often. You can have a better knowledge of the accounting process by learning how debit and credit function. It might even make it easier for you to understand complex accounting concepts.   What is…

Proforma Invoice

What Is a Proforma Invoice?

Bookkeeping, Small Business GuidesBy CA Mohnish KatreFebruary 4, 2022Leave a comment

The fact of the importance of invoicing in our day-to-day business life is undeniable. As it helps to sustain the consistency of cash flow into your business. Acknowledging the diversified varieties of invoices, to increase the cash flow can be a game-changer in the business practices of your company. And this is how you can…

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