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?

Credit Note and Debit Note   A credit note and debit note are both types of accounting documents used to record transactions between two parties. A completed credit note is a document that is issue by a seller to a buyer when goods or services are return, or when the price of goods or services… Read More »