Starting a new business is one of the toughest decisions you can every make. First, you need to find a good idea, then build a plan for marketing, branding, sales, hiring, etc. Then, you need to work on the product strategy and finally, raise capital to execute your plans. Sounds like a lot of work..…
DetailsWhat Is Accounts Receivables? Accounts receivables can be attributed to the amount of money the company or the respective business organisation is bound to receive for its services/goods provided to the customers. Also termed as trade receivables, this particular term can be explained in an example that follows. A business organisation will have an…
DetailsMr. Vinod manufactures solar panels. He just delivered a huge order to one Government office. As per the agreed payment terms, he will get the payment after 3 months. Now, he got another big order. But the problem is he doesn’t have enough money to procure raw materials to fulfil this order. His payment is…
DetailsWhat Is Bharat QR Code? Since demonetization of old currency notes the Government of India has been making a big push for digital payments. To encourage cashless transactions and to promote Digital India initiative, the Government of India has launched Unified Payments Interface (UPI) for smartphones and for basic and feature phones it has introduced Unstructured…
DetailsGoods and service tax (GST) is set to go live in India on 1st July 2017. This is the biggest tax reform as its going to replace around 18 indirect taxes. Naturally, there is lot of confusion around GST. In order to make business owner’s life easy, companies have launched GST mobile apps. At the…
DetailsUnion Budget 2017 For Small Business And Start-ups Union budget is one of the biggest events in the financial calendar of the country and this year’s financial budget saw some great promises made for empowering the small and medium-sized enterprises (SMEs) and the start-up businesses. The finance minister announced some great tax exemptions and policies for the…
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 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…
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