Depreciation is not a good word to hear. This seems contrary to “praise” which is very strange. But all of you will probably appreciate tax savings, depreciation helps you save tax. Even if you depreciate everything for your accountant, brush up on the basics and make sure you are taking advantage of the maximum depreciation. # What is Depreciation? Depreciation… Read More »Definition of Depreciation? Depreciation Expense Vs. Accumulated Depreciation
Working capital management plays a very important role in the success of any business venture. More and more companies that are running into losses or struggling financially will be profitable and liquid. The working capital management system helps you determine whether productive capital can be held for productive uses. Many finance professionals & business experts often ignore the importance of… Read More »What is Working Capital Management? Importance, Components, and Benefits
The accounts receivable stores the payments received by the business. For a growing business, it is important that accounts receivable, or incoming payments, are managed effectively. When mismanaged, the money can dry up without notice. This can lead to important pending decisions, and even worse, as a result, it may affect a business’s ability to pay vendors, meet tax obligations… Read More »Tips to Manage Your Accounts Receivable More Efficiently
The term receivable stands for the payment of the amount received. This means that account receivable (AR) is the unpaid balance of money from your receivers/customers end for the products or services you sold to your customers. It represents any purchase that is based on customer credit and is shown on your balance sheet as an existing balance. # What… Read More »Account Receivable – What is it? Functions, Process & How to Calculate Turnover Ratio?
The list of products depends upon the specific vendor, they can sell a variety of items including food & drink, wood, bags, simple tools, and minor weapons, etc. Here is a regular product list for the general store- RICE and FLOURS Turmeric powder – 100 gms Sugar – 1 kg Jaggery – 1/2 kg Idli rice/Boiled rice/Salem rice – 5-7… Read More »Items List for General Store
There are at least two reasons to buy insurances. First, and most important, is for protection from harm by any catastrophic event. A car accident can lead to consequences such as a serious financial deficiency at the time of an illness or injury, or death. Specially it helps protect against financial losses. # What is Insurance? An insurance policy/plan is… Read More »What is Insurance? Functions, Benefits & How does It Work?
As we have seen, the general store is a very needful and economical household business shop. Containing items like Kirana items, clothes, small electrical items, and medicines, etc. Here you will find the vast no of category items. Knowing the inventory of the items, judging the customer demand, maintaining party outstanding, tracking history, and management is very difficult for any… Read More »How to Use Vyapar for Inventory Management of General Store?
Lending or loan means lending money from a person, friend, or institution to another and assuring them to return it in the future with the principal as well as interest. A loan has three components – the principal or amount borrowed, the interest rate, and the tenure or period for which the loan is taken. It is one of the… Read More »What is a Loan? Types, Advantages & How To Apply For A Loan?
A UAN (Universal Account Number) is a unique number given to all employees. An employer can certify an employee through his / her UAN when the KYC document is verified. UAN provides an online facility to the employee, based on this facility, the employer will not be able to deduct or withdraw his PF. In other words; UAN is important… Read More »What is UAN Number & How to Activate UAN?
As we have seen, Vehicles are in the long term use and long-running machines. They need the services and sometimes replacement of the spare parts, which depends on the use case as well as wear and tear of the items. There is a vast number of companies, models, designs and customized models are available. This is the reason that the… Read More »Best Inventory & Service management tool for your Automobile Shop