Difference between book keeping and Accountancy? Difference Between Bookkeeping and Accountancy: Bookkeeping and accountancy are essential components of managing the financial aspects of any business or organization. While these terms are often used interchangeably, they refer to different processes that serve distinct purposes in financial management. Understanding the difference between bookkeeping and accountancy is… Read More »
Turnover Certificate from GST Portal To download a turnover certificate from the GST (Goods and Services Tax) portal, you can follow these steps: 1. Visit the GST Portal: Go to the official GST portal of your country. For example, in India, the GST portal is https://www.gst.gov.in/. 2. Log in to Your GST Account: Log… Read More »
Difference Between Accountancy, Accounting and Bookkeeping Difference Between Accountancy, Accounting and Bookkeeping share a connection, yet they possess notable distinctions concerning their scope, responsibilities, and qualifications Bookkeeping Bookkeeping involves the systematic recording, organizing, and maintaining of financial transactions of a business. It focuses on the day-to-day financial activities and tasks, such as recording sales,… Read More »
Accountants and Bookkeeping Yes, accountants can perform bookkeeping tasks as part of their broader responsibilities. While bookkeeping is typically considered a separate role within the accounting function, many accountant have the skills and knowledge to handle bookkeeping tasks effectively. Accountant may choose to perform bookkeeping duties themselves, especially in smaller businesses or as part of… Read More »
Is BookKeeping Accounting There is important answer of Is BookKeeping Accounting question. Book keeping and accounting are closely related disciplines within the field of finance, but they are not the same thing. Book keeping is a fundamental component of accounting, serving as the process of recording and organizing financial transactions. It involves tasks such… Read More »
Bookkeepers and Accountants Bookkeepers and accountants perform distinct roles in the realm of finance and accounting, although their responsibilities are intimately intertwined. Bookkeepers are responsible for recording and organizing financial transactions, maintaining ledgers, and ensuring accuracy in financial records. They typically handle day-to-day tasks such as recording sales and purchases, reconciling bank statements,… Read More »
Partnership model in accounting firms Partnership model in accounting firms: Accounting firms typically consist of partners who are experienced and knowledgeable in the field of accounting. By forming a partnership, they can combine their expertise and skills, allowing for a broader range of services to be offered to clients. 2.Client Relationships: The partnership structure allows… Read More »
TDS Compliance for Partnership Firm TDS Compliance for Partnership Firm, For a partnership firms, compliance with TDS (Tax Deducted at Source) provisions is important to fulfil its tax obligations. Here are some key aspects of TDS compliance for a partnership firm: TAN Registration: The partnership firm must obtain a valid Tax Deduction and Collection… Read More »
The definition of Invoice financing Invoice financing also known as invoice discounting, is a form of short-term financing in which a company sells its accounts receivable (invoices) to a financial institution, such as a bank or a non-banking financial company (NBFC), at a discount. The financial institution advances a percentage of the invoice value to… Read More »
Long-term capital gains tax India It is a tax on long-term capital gains tax India refers to the tax impose on the earnings generate from the sale of assets that are held for a long period of time. In the Indian context, long-term capital gains tax is applicable on the sale of assets such… Read More »
