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Wholesale Price Method In Branch Accounting

Wholesale Price Method in Branch Accounting

When steering the course of a business, a pivotal decision arises in choosing the accounting method that will shape the financial records. Within the array of bookkeeping methods, we’ll be focusing mainly on the wholesale price method in branch accounting, and how it is important for wholesalers. Nestled among these methods is the branch accounting…

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Top 5 Inventory Management Software For Wholesalers &Amp; Distributors

Top 5 Inventory Management Software For Wholesalers & Distributors

Inventory management software is not a want, but a need of distributors, retailers, and wholesalers. This is especially true for large warehouses storing items in bulk. And of course, even for small-time retailers, inventory management software can be useful. In this article, we will cover all the pain points faced by wholesalers and distributors and…

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Retail Credit Facility - Definition, Types &Amp; Examples

Retail Credit Facility: Definition, Types & Examples

In the dynamic realm of consumer finance, the significance of a retail credit facility cannot be overstated. Serving as the financial backbone of our purchasing power, this specialized credit mechanism facilitates seamless transactions that bridge the gap between desire and possession. In this article, we’ll dive into the nuances of a retail credit facility and…

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Top Free Inventory Management Software

Top 10 Free Inventory Management Software For Your Small Business

A free inventory management software that works well is difficult to find and use. All software cannot be like ProfitBooks, which offers powerful and 100% free inventory management and is also easy to use. In this article, we discuss how inventory management works, and what free inventory management software you should use as a small…

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What Is Business Activity Statement (Bas) In Australia &Amp; How To Lodge It?

What Is Business Activity Statement (BAS) In Australia & How To Lodge It?

If you’re running a business in Australia, you’ve probably heard of the Business Activity Statement, or BAS for short. It’s not just another piece of bureaucratic jargon; it’s a crucial part of managing your finances. BAS is like a financial report card that Aussie businesses must submit regularly to the Australian Taxation Office (ATO). In…

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Payroll Tax, Regulations And Process In Australia

Payroll Tax, Regulations And Process In Australia

Payroll in general refers to the process of managing employee compensation, including calculating wages, deducting taxes, and distributing payments, usually on a regular schedule, like biweekly or monthly. In Australia, there are certain payroll rules and regulations and a special tax asserted by the Australian Taxation Office (ATO). Australia’s thriving economy and welcoming business atmosphere…

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Register Trademark In The Usa For Your Business

Trademark Registration Online In USA – Explained In 5 Easy Steps

For any business looking to establish its identity in the US market, registering a trademark is an essential step. Not only does it give the legal business ownership over its brand, but it also safeguards its intellectual property rights and establishes credibility with its customers. It’s not a perk you can get, it’s more of…

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Get Green Tick Verification On Whatsapp In 5 Simple Steps

WhatsApp Green Tick Verification Process In 5 Easy Steps

Whenever you come across a business WhatsApp account, you’d generally be more trustworthy towards the companies that are verified businesses. You must have noticed a green tick after the company name displayed on WhatsApp. This badge of honor is an indication of the business is an official business account. And it also gains tremendous trust…

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Everything You Need To Know About Msme Udyam Registration

Everything You Need To Know About MSME Udyam Registration (Earlier known as Udyog Aadhar)

The idea behind introducing Udyam Registration was to simplify the procedural format that business owners had to go through to register their business under Micro Small Medium Enterprise or MSME. Before the introduction of Udyam Registration, the procedural format for the same was quite hectic and a time-consuming bureaucratic process that used to require handling…

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25 Free Google Tools For Business Owners

25 Free Google Tools For Business – That You Never Heard Of Before

In today’s digital world, running a successful business often requires using a wide range of tools to increase productivity, streamline workflows, and improve marketing strategies. When it comes to online tools, Google is undoubtedly one of the most powerful and versatile platforms available. While many business owners are familiar with popular Google products such as…

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What Is Upi &Amp; How It Can Benefit Your Business

What Is a Unified Payment Interface (UPI) and How it can benefit your Business

  In recent years, digital payments have become increasingly popular worldwide, as of 2022 UPI has hosted more than  300 million transactions per day as more people opt for the convenience and security of paying through their smartphones. India has taken a significant step toward achieving a cashless economy with the introduction of the Unified…

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30 Cost Cutting Ideas To Survive Cashflow Crunch

  At a monthly meetup of local entrepreneurs, one business owner posed a thought-provoking question that got everyone thinking: “What are the simple cost-cutting ideas that I can implement today?” This question led to a lively discussion where participants shared their experiences and discovered practical strategies for reducing expenses and saving money. Through this blog,…

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How To Select A Perfect Accounting Software

How To Select A Perfect Accounting Software- 8 Tips

  Managing finances is an essential aspect of running any business, big or small. business growth of any business is impossible  Without a proper accounting system in place, it becomes challenging to keep track of income, expenses, profits as well as other business operations. Investing in the right accounting software is important for any business…

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Xero, Quickbooks, Accounting, Software

Xero vs Quickbooks: What’s better for your business?

If you are someone who has just entered the accounting software market, you might be feeling overwhelmed by all the options available out there. There exist a number of alternatives for all types of accounting, invoicing, bookkeeping, to track expenses, making financial statements, financial report,  understanding cash flow, accounts payables, etc. There are a lot…

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Invoice Bill

Is an invoice the same as a bill?

If you step out in the market often and interact with businesses or any transactions, you’d have encountered the terms‘ invoice‘ and ‘bill’. Businesses, accountants, and customers often use these two terms interchangeably. Though they do have some commonalities, they surely aren’t identical. If you are a business owner and wish to have some assistance…

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Accounts Payable - Meaning, Definition And Process

Accounts Payable – Meaning, Definition and Process

All businesses or organizations have two indispensable financial flows: Expenses and Revenue. Let’s have a quick understanding of the mentioned terms. In simple words, revenue refers to the money coming in, and expenses refer to the money going out. The money coming in (revenue) is responsible for meeting the requirements and helping to run the…

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Setup Inventory Management System

How To Setup Efficient Inventory Management System

A retail business’s inventory is among its most precious assets. As it has been proven to be the case, in the global ever-growing economy, for inventory-intensive industries such as retail, hospitality, and manufacturing, an entity’s finished products, raw materials, and other components are at the heart of its business. Therefore, a shortage of inventory at…

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5 Proven Ways To Boost Website Conversion Rates

5 Proven Ways To Boost Website Conversion Rates

Website conversion rate is an essential metric to track for businesses large and small. A business owner or company leadership can learn a ton about consumer trust, website usability, lead generation, website optimization, user interaction, and more via conversion rates. Understanding your conversion rate more can also help you allocate precious marketing dollars toward the…

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Optimize Your Website For Mobile Seo

Mobile SEO: 5 Ways To Optimize Your Website

Here’s an interesting statistic: at least 40% of online transactions are now done using mobile. With that in mind, more and more brands nowadays are using a responsive web design approach. However, to foster engagement and build brand loyalty, having a responsive web design alone won’t suffice. You also need to optimize your website for mobile search engine optimization…

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Free Software For Managing Remote Teams

30 Free Business Software For Managing Remote Teams

While remote working offers flexibility and access to a wider talent pool, it also presents unique challenges for business owners. One common problem faced by these owners is the effective management of remote teams. In a traditional office setup, communication and collaboration occur organically, but when teams are dispersed geographically, maintaining efficient workflows can be…

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What Is Fixed Asset

What Is Fixed Asset? (Updated in 2023)

It’s been a few years since you are running this business. You are about to end this financial year and now you want to know – What is my actual business worth? Most small business owners consider only revenue while assessing their business worth. However, they rarely consider one fundamental thing in the calculation – Fixed Assets. An example…

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Union Budget 2017 For Startups And Small Business

Budget 2017 Highlights – 5 Key Things Startups Should Know!

Union Budget 2017 For Small Business And Start-ups Union budget is one of the biggest events in the financial calendar of the country and this year’s financial budget saw some great promises made for empowering the small and medium-sized enterprises (SMEs) and the start-up businesses. The finance minister announced some great tax exemptions and policies for the…

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Input Tax Credit Under Gst In India

Input Tax Credit under GST – 30 Important Questions Answered!

  At ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered Levy and Exceptions under GST and Tax payments under…

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Important Financial Statements

3 Important Financial Statements Every Business Owner Should Know

“You Can’t Improve What You Don’t Measure!” Small businesses must be well-informed to survive in a competitive environment and one of the vital competencies they must develop is to read and understand important financial statements. Understanding essential financial statements such as ‘Trial Balance’, ‘Balance Sheet’, and ‘Profit and Loss statements is of utmost importance, as…

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Most Popular Business Articles

Best Business Articles Of 2016

In our endeavour to help entrepreneurs to grow their businesses, we published lot of insightful articles last year. I’ve handpicked 15 of them that instantly stuck the cord with our readers. Hope you’ll enjoy these posts. Here are our most popular business articles from year 2016.. 1) 12 Inventory Management Techniques To Cut Losses Inventory is…

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Guide To Tax Deducted At Source - Tds

India’s Most Comprehensive Guide On TDS (May 2020)

What is TDS? Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment. As the…

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Best Business Articles

12 Best Business Articles Of 2015

In our endeavour to help entrepreneurs to grow their businesses, we published lot of insightful articles last year. I’ve handpicked 12 of them that instantly stuck the cord with our readers. Hope you’ll enjoy these posts.   Here are 12 best business articles of 2015 published on ProfitBooks blog   Top 5 Payment Gateways & Wallet Providers…

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How to create an invoice

ProfitBooks makes it very easy to create beautiful invoices. Lets see how to create an invoice for the first time. With ProfitBooks you can create 3 types for invoices: Credit Invoice (Used when the payment is expected in future) Cash Invoice (Used over the counter sales) Time-Based Invoice (Used for billing against tasks) Lets see how to create…

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