Tag Archives: #AccountingBasics

Tax planning vs accounting?

 Tax planning vs accounting Tax planning vs accounting: Tax planning and accounting are distinct but interconnected aspects of managing finances. Here’s a comparison between tax planning and accounting:   Tax Planning: 1.Focuses on minimizing tax liability and optimizing tax-related strategies to legally reduce taxes. 2. Involves analyzing current and projected financial situations to identify tax-saving… Read More »

What is a completed credit note and debit note?

                    Introduction In the world of business transactions, financial documents like credit notes and debit notes play a crucial role in maintaining transparency and accuracy in accounting. These documents help businesses correct errors, issue refunds, or adjust invoices, ensuring smooth financial operations. Understanding their significance, usage,… Read More »