When you are running a company, there are some accounting basics you need to be clear about before you indulge in complicated transactions. Transactions can be difficult and to ensure that all is in place, bank reconciliation is necessary. If this prompts questions to pop into your head, further down is a full summary of…
As an entrepreneur running a SaaS company for over a decade, I’ve learned that building software from scratch isn’t always the smartest move. In fact, after 12+ years of running ProfitBooks, I’ve seen firsthand how white label solutions can be a game-changer for businesses looking to expand their offerings without the massive development overhead. Here’s…
Inventory is the collection of goods a company has in its stock. This includes raw materials, unfinished goods, and goods that are ready to be sold. Generally, inventory refers to the finished goods. This can also include the raw materials required for the production of finished goods called work in progress. Inventory turnover is…
After running ProfitBooks for over 12 years, I’ve had a front-row seat to how white-label accounting software can transform accounting firms. But I’ve also watched plenty of firms make costly mistakes when choosing the wrong solutions. Let me share the hard-earned lessons I’ve gathered while building and providing white-label accounting software to hundreds of accounting…
One of the best investments a small business owner can make is in people–both employees and customers. And you can easily serve your people with simple customer relationship management (CRM) software. The vast majority of companies have systems to handle data about product management. However, plenty of data and analysis is out there and received…
The most awaited and new tax system in India came into existence on 1st July 2017. After this, most of the businesses were able to continue smoothly as they adopted GST Compliance. But there are many businesses still that are not very sure about various compliances which can lead to heavy fines and penalties. Rules…