Bookkeeping for lodging establishments There is no federal threshold limit of bookkeeping for lodging establishments such as hotels, motels, and resorts. However, some states may have their own thresholds. For example, the state of California requires all businesses with gross receipts of 25,000 or more to keep books and records. Even if there is… Read More »
Bookkeeping for Furniture and Appliances Here are the Effective Bookkeeping for Furniture and Appliances Traders and Stores: Accurate recording of financial transactions is crucial for furniture and appliances traders and stores. Here are some essential transactions to record in your Bookkeeping for Furniture and Appliances: 1. Purchase of Inventory: When acquiring furniture and appliances,… Read More »
Bookkeeping for Furniture and Appliances Here are some effective strategies Bookkeeping for Furniture and Appliances, Trader & Stores: 1. Conduct thorough research: Prior to making any purchases, it’s essential to have a clear understanding of your desired items and budget. Read reviews, compare prices, and be on the lookout for ongoing sales and discounts. 2.… Read More »
Balance sheet for Furniture and Appliances The threshold limit of balance sheet for Furniture and Appliances: Trader & Stores in India is 2 crores. This means that any business in this sector with a balance sheet total of more than 2 crores is required to be registered under the Companies Act, 2013. The threshold… Read More »
ITR for Mall Owners ITR for Mall owners in India can avail several tax deductions while filing their Income Tax Return (ITR). These deductions help in reducing their taxable income, ultimately leading to a lower tax liability. Three key tax deductions available ITR for mall owners in India are: 1. Property Tax Deduction: Mall… Read More »
Bookkeeping mandatory for Mall Owners It is not only recommended but often Bookkeeping mandatory for mall owners. Bookkeeping involves recording and organizing financial transactions related to the mall’s operations. That practice is crucial for several reasons: 1. Financial Transparency and Compliance: Accurate bookkeeping provides a clear record of income, expenses, and other financial activities. This… Read More »
Doc. Required for Sales and services Doc. required for Sales and services Sure, here are the documentations required to support the sales and services of electrical items in India: 1. BIS Registration: The Bureau of Indian Standards (BIS) is a statutory body under the Ministry of Consumer Affairs, Food and Public Distribution, Government of… Read More »
Financial Transactions for Mall Owners should record several key Financial Transactions for Mall Owners in their bookkeeping to maintain accurate financial records and ensure proper management of their business. These transactions include: 1. Rent Payments and Receivables: Mall owners should record rent payments received from tenants as well as any outstanding rent receivables. This… Read More »
Bookkeeping Basics Absolutely, there exist specific thresholds concerning bookkeeping basics within the realm of electrical items sales and services. In the United Kingdom, when your business surpasses a taxable turnover of £85,000 in the preceding fiscal year, you are obligated by law to maintain comprehensive documentation of all financial transactions associated with your business… Read More »
Bookkeeping for Construction In the realm of the construction industry, bookkeeping serves a vital purpose by meticulously recording and monitoring all financial dealings associated with a construction project, spanning from the initial planning phases to the project’s ultimate completion. This encompassing role includes diligently tracking expenditures, incoming revenue, and profit margins. The act of… Read More »