Accounting software is important for running a healthy business

 Accounting software helps you track your accounts receivable, payable and expenses in one place.

While selecting accounting software, make certain to gauge all offerings, including compliance, reporting, tracking and available add-ons.

One of your top priorities as a little business owner is keeping an in depth eye on the cash you usher in and disburse , which is why it is important to have the right accounting software. You need a  software that helps you accomplish your day to day  accounting tasks – recording receipts,  payments, tracking expenses, invoicing customers and reconciling transactions – and provides you insight into your business's financial positions,  allowing you to generate MIS reports and summary  that help you analyze your business's performance from multiple angles.

But choosing the best user friendly accounting software for your  organization  is challenging.  Every accounting and taxation software includes a different set of accounting and taxation features,  and most offer multiple pricing options  to choose from, which also vary in features, number of users and other factors. Here are three items to stay in mind when selecting accounting software for your business:

Top three  accounting and taxation  software for small and small and medium scale enterprises in India. This accounting software is feature-ready to satisfy all the obligations of the present  statutory tax structure of our country.  The software is scalable, user friendly, reliable, and have standardized features to host general accounting and tax process.

Tally Prime

Tally prime accounting software as an end-to-end solution to GST all statutory regulations as current changes get within the financial accounting of Govt. Tally is best  software for  GST returns preparation .   Starting from creating e-invoices, groups ,ledgers,  inventory aging analysis, , profit and  Loss statement, auto bank reconciliation, or any critical overviews;  Tally is your business acquiescence partner.  As your business grows, Tally prime  helps in generating easy  reports and makes fast  decisions. Tally may be a simplified yet unique solution that permits the business to handle accounting and manufacturing details by implementing minimum resources.

Click for  Tally Prime Training Institute

MARG ERP9

Marg ERP 9+ may be a GST enabled inventory and accounting software in India that creates GST billing and filing easy. Prepare  batchwise invoice, get detailed information on a business transaction, avail auto bank reconciliation, centralize barcode, and push GST transaction on the portal. Marg ERP 9+ helps in selecting the proper GST slab and segregate transactions accordingly. The software directs detailed and automates calculations of  GST (Good and service tax) . Marg ERP9+ may be a trade specialized solution that's highly affordable in price and customizable in features. the Marg software is easy to understand  and lets you build functionality to business support.

Click for Marg Accounting software Training Institute  

Busy Accounting Software

Busy is easy to use accounting software that has been created to bring a reform in the computerized accounting system. With the first objective of providing digitalization and offering a computerized software solution, Busy has become one among the highest online accounting software in India. The software has received an awesome response from the Fortune companies in India. Busy Accounting Software caters a variety of accounting software apps that cater to the necessity of various business segments.  Busy accounting software is out there in three different segments that suit micro, small, and medium scale enterprises

Click for Busy Accounting software Training Institute

Industrial Accounting and Taxation Practical Training

Add : 15, Bhande Plot Umred Road Nagpur

 

FINANCIAL BUDGET:- (All you needed to think about the Budget)

“The Budget division in the Finance Ministry has complete responsibility over the document”

“An Annual Budget is not only necessary, but compulsory according to the Constitution”

What is a budget and what does it consist of?

A #Budget is an estimate of outflows and inflows that a Government will incur during a financial year. It consists of actual figures for the first year and the budgetary estimate for the present year. For example, a Budget presented in Feb 2019 will have the preceding year, i.e. 2018-19’s actual figures and the evaluations for 2019-20.

When is it presented and by whom?

The Budget is introduced on a day that is determined by the Parliament. While generally it was displayed on the last working day of February, this year, because a new government has come into power, it will be presented on 1 February.

The Budget is presented by the Finance Minister. The Budget division in the Finance Ministry has total duty over it, however it requires last endorsement from the Prime Minister.

A timetable is drawn up by the Budget Advisory Committee of the Parliament. In this calender, a settled time is given for every Ministry to talk about their requirements preceding the Budget introduction.

Is an annual Budget necessary?

It is not only necessary, but compulsory. Under Article 112 of the Constitution, a Statement of Receipts and Payments (estimated) has to be tabled in the Parliament for every financial year. The Receipts and Payments articulation contains united store, possibility support and people in general record.

The consolidated fund is a statement of all the inflows, such as tax revenues; and all expenditure, which constitute outflows. To withdraw from this fund the government requires parliamentary authorisation. The contingency fund is a corpus of about Rs. 50 crore kept aside for unforeseen expenses. The public account is one where all money raised from government schemes, such as Provident Fund, is accounted for.

What does the Budget document contain?

The budget speech and the document has two parts – Part A and B.

Part A is the macroeconomic part of the budget where various schemes are announced, and allocations are made to several sectors. The priorities of the government are also announced in this part.

Part B deals with the Finance Bill, which contains tax collection proposition, for example, salary charge corrections and indirect taxes.

What is the process of Budget approval? What will happen if a Budget is not presented before said date?

The Finance Minister presents the Budget in the Lok Sabha by by way of a speech and gives an outline of the Budget. He at that point tables it in Rajya Sabha.

Both Houses of the Parliament then allot time for a general discussion on the Budget, to which the Finance Minister replies at the end.

Lok Sabha then takes up a discussion on each ministry’s expenditure proposals. After this prescribed period, known as the Demand for Grants, the Speaker applies what is called the ‘guillotine’. Once the ‘guillotine’ is applied, all outstanding demands are put to vote. Though both the Houses of Parliament discuss the Budget, only the Lok Sabha votes on it.

The Appropriation Bill is then introduced after all demands are passed, and once this Bill is passed, the government receives authorisation to draw from the consolidated fund. Once the Appropriation Bill becomes an Act, the Finance Bill is passed. Once this is done, the final Budget gets approved.

In the event that the Budget isn't passed inside the reported date, Article 116 of the Constitution empowers the Lok Sabha to pass the Vote-On-Account, a record which covers just the use brought about.

जीएसटी। यानी गुड्स एंड सर्विस टैक्स क्या है।

जीएसटी को इस दशक का सबसे अहम आर्थिक सुधार माना जा रहा है। जीएसटी लागू होने के बाद वस्तुओं और सेवाओं पर अलग-अलग लगने वाले सभी कर एक ही कर में समाहित हो जाएंगे। 

इससे पूरे देश में वस्तुओं और सेवाओं की कीमतें लगभग एक हो जाएंगी। मैन्युफैक्चरिंग लागत घटेगी, जिससे उपभोक्ताओं के लिए सामान सस्ता होगा। 

अप्रत्यक्ष कर की इस नई व्यवस्था से अर्थव्यवस्था को 60 लाख करोड़ रुपये का फायदा होगा। पेश है जीएसटी, अब तक इसके सफर और आगे की संभावना पर दीपक मंडल का विश्लेषण।

क्या है जीएसटी

जीएसटी एक वैट है, जो वस्तुओं और सेवाओं दोनों पर लगेगा। मौजूदा दौर में वैट सिर्फ वस्तुओं पर लागू होता है। जीएसटी दो स्तरों पर लगेगा। 

एक केंद्रीय जीएसटी होगा, जबकि दूसरा राज्य का। इससे पूरा देश एकीकृत बाजार में तब्दील हो जाएगा और ज्यादातर अप्रत्यक्ष कर जीएसटी में समाहित हो जाएंगे।

क्या होगा फायदा

केंद्र के स्तर पर यह केंद्रीय उत्पाद शुल्क, सेवा कर और अतिरिक्त सीमा शुल्क और राज्य स्तर पर वैट, मनोरंजन, विलासिता, लॉटरी टैक्स और बिजली शुल्क को समाहित कर लगेगा। 

केंद्रीय बिक्री कर (सीएसटी) खत्म हो जाएगा। प्रवेश शुल्क और चुंगी भी खत्म हो जाएगी। अलग-अलग टैक्स की बजाय एक टैक्स लगने की वजह से चीजों के दाम घटेंगे और आम उपभोक्ताओं को फायदा होगा। 

सरकार की टैक्स वसूली की लागत भी घट जाएगी। जीएसटी दर का खुलासा नहीं हुआ है। ज्यादातर देशों में यह 14 से 16 फीसदी तक है।

क्या थीं अड़चनें

राज्यों को अपने राजस्व और स्वायत्तता के नुकसान का डर था। सबसे बड़ा विरोध पेट्रोलियम उत्पादों पर लगाए जाने वाले टैक्स को लेकर था। राज्यों का 50 फीसदी राजस्व इसी से आता है। 

राज्य केंद्रीय बिक्री कर (सीएसटी) खत्म हो जाने की वजह से होने वाली राजस्व हानि को लेकर भी चिंतित थे। सीएसटी अंतर राज्य कारोबार पर लगने वाला टैक्स है। 

निर्यात करने वाले राज्य की ओर से लगाए जाने वाले इस टैक्स को 2007 में चार फीसदी से घटा कर दो फीसदी कर दिया गया था। 

केंद्र ने राज्यों को 2010 तक इसकी भरपाई का वादा किया था। लेकिन 2010 के बाद केंद्र ने इसे बंद कर दिया था। विरोध की यह बड़ी वजह थी।

क्या निकला रास्ता

चूंकि राज्यों के राजस्व का 50% पेट्रो उत्पादों पर लगने वाले टैक्स से आता है लिहाजा उन्हें राहत देने के लिए इसे जीएसटी में शामिल करने के बावजूद केंद्र इस पर तीन साल तक टैक्स नहीं वसूलेगा। 

राज्य तीन साल तक इस पर टैक्स वसूल सकते हैं। केंद्र ने सीएसटी का भुगतान बंद होने पर राज्यों को होने वाले घाटे की भरपाई के लिए इस वित्त वर्ष में 11000 करोड़ रुपये देने का वादा किया है। 

केंद्र डेढ़ करोड़ रुपये का कारोबार करने वाले कारोबारियों से टैक्स वसूलेगा। अल्कोहल और तंबाकू पर टैक्स उगाही राज्य ही करेंगे।

================================================

AIAT Institute

Industrial Accounting and Taxation Practical Training

15, Bhande Plot Umred Road , Nagpur

Mob. 9373104022

Email.: info@aiatindia.com

Site : www.aiatindia.com