My Blog List

Wednesday, April 28, 2021

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

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Saturday, March 13, 2021

Enable GST In Tally. ERP 9


 Enable GST In Tally. ERP 9

To use GST (Goods and Services Tax) features in Tally, it is mandatory to enable or activate GST in Tally. After activation of GST feature in Tally. ERP 9, all the GST related features are available for all general ledgers, stock items and transactions in Tally.

Refer below step by step procedure to activate GST in Tally.

Step 1: From Gateway of Tally, click on F11: Features or press function key F11.

Step 2: Under company features options, choose Statutory & Taxation or press function key F3.

Step 3: In next screen company operation alteration, enter the following details.

  • Enable Goods and Services Tax (GST: Yes
  • Set/alter GST details: Yes

Step 4: When you enable “Yes” for Set/alter GST details, the following screen appears.


Step 5: Now you need to update all the required details of GST.

  • State: It automatically displays state name based on the state you have updated in company.
  • Registration Type: Choose GST registration type as “Composition” or “Regular.
  • GSTIN/UIN: Update the Goods and Services Tax India (GSTIN) number, this GSTIN can be printed on invoices.
  • Applicable from: Enter the date that GST will be applicable from for transactions.
  • Periodicity of GST: Enter the periodicity of GST as Monthly or Quarterly as per requirements of company.
  • e-Way bill applicable: Choose this option as “Yes”
    • Applicable from: Enter the date that e-way bill to be applicable from
    • Threshold limit includes: It can be based on invoice value / taxable and exempt goods value / taxable goods value
    • Threshold limit: Enter the amount value of threshold limit allowed
    • Applicable for intrastate: Choose option as “Yes”, if it is applicable to your state
    • Threshold limit: Enter threshold limit for intraste
  • Enable tax liability on advance receipts: Choose “Yes” to activate tax liability on advance receipts
  • Set/alter GST rate details: Choose Yes to set or alter GST rate details at company level.
  • Enable GST classifications: Choose Yes to activate GST classifications.

 

Read More : Shortcut Keys in Tally.ERP 9

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