One of the most popular methods of financing is borrowing. Loans can be short term, long term, secured, or unsecured and should be recorded accordingly. It is important to keep track of the principle and interest amount, and record them respectively in books for correct accounting. Classification is vital as ‘interest’ paid on loan is…
DetailsIt was a Monday morning and I was responding to an important email on my laptop. One of our vendors had sent me an invoice couple of weeks back he was reminding me that it is already overdue. I had a feeling that I already issued a payment and even got the receipt for it.…
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To sell is an art and to sell online is modern art. Learn how to sell online effectively with our comprehensive guide. Discover essential strategies, platforms, and techniques to maximize your success in the online marketplace. Whether you’re a beginner or an experienced seller, our article provides valuable insights on how to sell online, covering…
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Creating a professional invoice might seem like an easy thing to do but its often the toughest task, specially if you are doing it for the first time. Its often the last communication with the client and hence, must leave a good impression about your company. Lets find out how you can create a good looking…
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In simple words, cloud accounting means online accounting. Instead of accessing the software from your computer’s hard disk, you access it through the internet. If you have internet net banking or any email service like Gmail, Hotmail, or Yahoo, you have already experienced the power of cloud computing. So, instead of installing the accounting…
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If you are providing your services to foreign clients, you might want to create invoices in currency that is different than your base currency. ProfitBooks supports multi currency accounting and invoicing. While creating new customers or vendors, you need to specify their currency & ProfitBooks will use that currency in invoices or other vouchers. Lets…
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In simple words, business metrics is the collection of relevant and meaningful business data that can help you take informed decisions to grow your business. Some people call it KPI (Key Performance Indicators) or analytics. Depending on the nature of your business there could by 100s of KPIs you can track but I would definitely…
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Hot100 Awards organised by CORE (Centre of Recognition & Excellence) announced ProfitBooks Solutions Pvt Ltd as winner for 2014! CORE felicitated innovative & best startups in india in consumer internet, B2B and SMAC (Social,Mobile,Analytics,Cloud) during a ceremony held at Mumbai, Maharashtra on December 12, 2014. Anoop Mathur, President, CORE says We are excited for the winners as…
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Lets first understand What is Proforma Invoice and where it is used. According to this definition on Investopedia, Proforma Invoice is like a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods. Typically, it gives a description of the purchased items, notes the cost, as well as other important…
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