A business owner walked me through his dashboard last quarter. Monthly sales touching ₹28 lakh. Charts looking sharp. Green arrows everywhere. Then we pulled three other numbers. Outstanding customer payments had doubled in 90 days. Inventory hadn’t moved in four months. Supplier payments were overdue by six weeks. Sales had grown, but cash flow had…
A business owner once told me: “I check my bank balance every day. Isn’t that enough?” A few weeks later, he discovered one customer accounted for almost 40% of his unpaid invoices. The information was already sitting inside his reports. He just wasn’t looking at the right ones. That’s more common than most business owners…
What are the key income tax changes from April 1, 2026? From April 1, 2026, the new tax regime under Section 115BAC becomes the default. A unified “Tax Year” replaces the old FY/AY system, the standard deduction is ₹75,000 under the new regime, and new labour codes mandate that basic pay must be at least…
What is GSTR-2A? GSTR-2A is a dynamic, auto-generated read-only statement on the GST portal that displays all purchase invoices uploaded by your suppliers in real-time. While it helps businesses track and verify Input Tax Credit (ITC) eligibility throughout the month, it is not used for final ITC claims in 2026—that formal role belongs to the…
Quick Answer: What is GSTR-2B? GSTR-2B is a static, monthly auto-generated statement on the GST portal that determines a business’s eligible Input Tax Credit (ITC). Generated on the 14th of every month, it pulls data directly from your suppliers’ GSTR-1 filings. In 2026, GSTR-2B is the absolute source of truth for ITC claims; claiming credit…
Last Tuesday, 11:47 PM. My phone buzzes. “Mohnish sir, GST filing deadline is tomorrow and our invoicing software crashed. We have 847 invoices to process and no way to generate compliant reports.” That panicked call took me right back to 2018 when I made the biggest invoicing mistake of my career. You know what I…
Last Tuesday, I got a call that still haunts me. Rajesh, who runs a thriving auto parts business in Pune, was practically in tears. “Mohnish sir,” he said, “my invoicing software just locked me out during month-end. I’ve got 200 pending invoices, GST filing due tomorrow, and I can’t even access my client data.” Haven’t…
Last month, I got a call from Priya, who runs a small textile business in Chennai. She was crying—actually crying—on the phone. “Mohnish sir, it’s been three days since my invoicing software crashed, and I can’t access any of my client data. GST filing is due tomorrow, and I don’t even know how much I…
Understanding your financial health is crucial. Financial reports provide a clear picture of your company’s financial performance, revealing your income, expenses, assets, and liabilities. As it’s crucial, we’ve made this guide to help our users generate financial reports using ProfitBooks! Even if you’re not a user, you can get started within a few minutes, for…
We can guess that you probably own a wholesaler, retailer, or distributor business since you’re reading this blog. Our inventory management tool is catered specifically towards businesses like yours. Thus, this guide covers all the important stuff surrounding inventory management for wholesalers and such. We have covered what inventory management for wholesalers is,…