At ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered Levy and Exceptions under GST and Tax payments under…
DetailsSmall business owners are often confused about the difference between cash and accrual basis accounting. This might sound like something that an accountant should show but this information is useful for business owner as well. In this article, we’ve explained how each of these accounting methods work. Find out more which accounting method is best for your…
DetailsWhat is Depreciation? In accounting terms, depreciation is defined as the reduction of the recorded cost of a fixed asset in a systematic manner until the value of the asset becomes zero or negligible. An example of fixed assets are buildings, furniture, office equipment, machinery etc. The land is the only exception that cannot…
Details“You Can’t Improve What You Don’t Measure!” Small businesses must be well informed to survive in a competitive environment and one of the vital competency they must develop is to read and understand important financial statements. Understanding essential financial statements such as ‘Trial Balance’, ‘Balance Sheet’, and ‘Profit and Loss’ statements is paramount as these…
DetailsOne of our customers, Mr. Ashok deals in Solar Panels. He recently got a huge order from one of the state governments. He will get some advance payment but it won’t cover the initial investment in buying Solar Panels. Since, its a government order, full payment is assured after completion. However, his biggest challenge…
DetailsIn our endeavour to help entrepreneurs to grow their businesses, we published lot of insightful articles last year. I’ve handpicked 15 of them that instantly stuck the cord with our readers. Hope you’ll enjoy these posts. Here are our most popular business articles from year 2016.. 1) 12 Inventory Management Techniques To Cut Losses Inventory is…
DetailsI visited the Silicon Valley last month. Before going to San Francisco bay area, I had planned to spend few days in Phoenix city. While I was there, I wanted to understand the CPA (Certified Public Accountants) industry to explore opportunities to market our business accounting software. But, I had no clue about how to…
DetailsAt ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered common questions on GST and GST registration process. In this…
DetailsAt ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered overview of GST tax and common questions around it. We…
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