Tax Audit Report Whether a tax audit report is require for grocery and merchandise stores depends on the following factors: 1. The size of the business: I f the business has a turnover of more than INR 1 crore, it is require to get its accounts audited by a chartered accountant. 2. The type of… Read More »
Due Date of Statutory Audit The Due Date of Statutory Audit, for Printing Services depends on the legal requirements of the country or state in which the company is located. In the United States, for example, the due date is 15 months after the end of the company’s fiscal year. However, there are some… Read More »
Trade Tally Tactics Trade Tally Tactics: Use of barcodes and scanners. Barcodes and scanners can help to automate the bookkeeping process by quickly and accurately recording sales and inventory data. This can save time and reduce errors. 1. Need to track multiple inventory locations: Grocery and merchandise stores often have multiple inventory locations, such… Read More »
Finalization for Grocery Finalization for Grocery, Is not necessarily. Whether or not a grocery or merchandise store is required to perform account finalization depends on the specific laws and regulations of the country or state in which the store is located. In general, account finalization is the process of closing out an account and… Read More »
Tax Audit for Printing Services Sure, there is a threshold limit of tax audit for printing services. Under Section 44AB of the Income Tax Act, 1961, a person carrying on the business of printing is require to get his books of account audited if the gross receipts of the business exceed Rs. 1 crore… Read More »
Registering Retail Finances Registering Retail Finances, Here are some of the key financial transactions that a resisted grocery & merchandise store should record: 1. Sales: This is the most important transaction for any registering retail finances store, as it represents the revenue that the store generates. Sales should be recorded by the type… Read More »
Printing service Printing service, According to the code you provided, there is no threshold limit for account finalization for Printing Services. This means that all accounts, regardless of the amount of money involved, will be finalized. However, it is important to note that this is just a stub code and does not reflect the… Read More »
Agent Financial Closing Agent Financial Closing: Sure, here are the steps on how to do account finalization in real estate agents: 1. Gather all the necessary documents: This includes the closing disclosure, the deed, the mortgage documents, and any other paperwork that was signed at the closing. 2. Reconcile the closing costs: This means… Read More »
Balance Sheet for the Grocery Here are the steps on how to draft a balance sheet for the grocery & merchandise stores: 1. Determine the reporting date and period: The reporting date is the date on which the balance sheet is being prepared. The reporting period is the length of time covered by the… Read More »
Threshold Limit of Account Finalization According to the code you provided, there is no threshold limit of account finalization for Printing Services. This means that all accounts, regardless of the amount of money involved, will be finalized. However, it is important to note that this is just a stub code and does not reflect… Read More »
