An accounting and invoicing system is a structured process that connects invoice creation, accounts receivable tracking, automated follow-ups, and financial reporting—so payments arrive predictably and cash flow stays visible. Last quarter, a service-business founder showed me his “system” for getting paid. It was a spreadsheet with client names, invoice dates, and a column labeled “Paid?”…
The Silent Drop-Off Problem Here’s something I’ve watched play out hundreds of times at ProfitBooks. A small business owner signs up for an accounting software trial. They’re motivated. They’ve finally decided to move past spreadsheets. They log in, see the dashboard, glance at a few menu items… and close the tab. They never come back.…
“Why is GST different on this invoice compared to last month?” I’ve watched small business owners freeze when they hear this question. The calculation is correct. The compliance is perfect. But the customer’s confused—and now there’s a 15-minute phone call explaining something that should’ve been clear from the start. Here’s what most businesses miss: GST…
I opened my email last Tuesday to find a client’s panicked message: “My GSTR-3B shows ₹47,000 due, but I only collected ₹52,000 in GST. Where did I go wrong?” She hadn’t gone wrong. She’d just confused tax collected with tax liability—a mix-up that trips up even seasoned business owners during their third year of GST…
I remember sitting across from a freelance graphic designer last year who’d just received a notice for advance tax penalties. She’d earned ₹12 lakhs, paid zero quarterly instalments, and genuinely believed “tax filing happens in July.” The ₹18,000 penalty felt like a punch—not because she tried to dodge taxes, but because no one explained how…
You’re staring at your accounting software. Profit shows ₹2 lakhs for the month. Your bank balance? ₹47,000. Something doesn’t add up, and honestly, this confusion has torpedoed more startups than bad products ever have. Here’s the straight answer: Yes, cash is an asset—specifically, a current asset. It’s an economic resource your business owns that provides…
I’ve reviewed hundreds of small business P&Ls over the last decade, and here’s what surprises me every time: founders can tell me their monthly revenue down to the dollar, but ask them about their operating income, and I get this nervous laugh followed by “Uh, that’s after expenses, right?” Close. But not quite. Here’s the…
I remember the first time a client called me in panic. “Mohnish, the MCA portal rejected my company registration. Something about DIN not matching. What even is a DIN?” This happens more than you’d think. Here’s the thing: DIN—Director Identification Number—is the first compliance step most founders encounter, yet it’s where 40% of incorporation delays…
You’re three months into your startup. Revenue is trickling in. You’ve got five SaaS subscriptions charging different cards, a contractor billing you in USD, and payment gateway settlements landing in your account two days after customers pay. Your co-founder just Venmo’d you for that AWS bill they covered. And now your investor wants to see…
At ProfitBooks, we often see business owners staring at their balance sheet with one recurring question: “What’s this retained earnings number, and why doesn’t it match my bank balance?” I’ll be honest—retained earnings trips up more founders than almost any other accounting line item. Not because the math is hard, but because the concept sits…