Expert insights on accounting, GST, invoicing & business growth for Indian SMEs
KEY TAKEAWAYS Form 16 is a TDS certificate issued by your employer showing salary income and tax deducted during the financial year It has two parts: Part A (TDS summary) and Part B (detailed salary breakup and deductions) Employers must issue Form 16 by 15 June after the end of the financial year You can…
KEY TAKEAWAYS Dead stock is inventory that has remained unsold for an extended period and is unlikely to sell It ties up working capital, wastes storage space, and quietly erodes profit margins Common causes include overordering, poor demand forecasting, and seasonal misjudgment You can clear dead stock through discounts, bundling, liquidation, and stock transfers Prevention…
KEY TAKEAWAYS Sundry debtors are customers who owe money to your business for goods or services sold on credit Sundry creditors are suppliers or vendors to whom your business owes money for goods or services bought on credit Sundry debtors appear on the assets side of the balance sheet Sundry creditors appear on the liabilities…
KEY TAKEAWAYS Section 44AD offers a presumptive taxation scheme for small businesses to simplify ITR filing Eligible businesses can declare 8% of turnover as income (6% for digital receipts) Turnover limit is ₹2 crore, or ₹3 crore if 95% of receipts are digital No need to maintain books of accounts or get a tax audit…
KEY TAKEAWAYS E-invoicing is the electronic authentication of B2B invoices on the government’s Invoice Registration Portal (IRP) Every valid e-invoice carries a unique IRN and a QR code Generating an e-invoice takes a single click through integrated billing software An e-invoice can be cancelled only within 24 hours, and only in full After 24 hours,…
KEY TAKEAWAYS India has 32 Accounting Standards (AS 1–AS 32) Core standards like AS 1, AS 2, AS 3, AS 9, and AS 10 are most relevant Some standards are merged or withdrawn Accounting Standards ensure consistency and compliance Introduction Accounting Standards in India define how businesses record, present, and report financial transactions. Issued by…
Introduction Every new financial year brings the same question for small business owners:“Should I continue with what I have, or upgrade to something better?” For many shop owners, traders, and first-time entrepreneurs, accounting software is often chosen the same way we choose a calculator. Whatever is cheaper or easily available. But here’s the thing. Accounting…
Introduction Retail businesses are rapidly adopting digital technologies to improve efficiency and enhance customer experience. One of the most impactful innovations in modern retail is QR Code Billing. From small retail stores to large outlets, businesses are using QR-based solutions to simplify payments, speed up billing, and manage transactions more efficiently. With the rise of…
Introduction Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in India’s economic development. They generate employment, support innovation, and contribute significantly to GDP. However, many MSMEs struggle with challenges such as manual accounting, inventory mismanagement, delayed payments, and lack of data-driven decisions. This is where business management software and modern analytics tools help…
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