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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…
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…
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…
In the retail game, keeping track of inventory is key. It’s all about having the stuff people want, when they want it, and at a good price. Retailers use fancy tech, number crunching, and savvy employees to make sure they’ve got the perfect mix of products to meet demand without going broke on storing too…
In our previous article, we discussed the MSME registration process in India. As it was an integral part of MSMEs in general, we had to talk about the benefits of MSME registration, that you can enjoy as a small business owner. There are many legalities surrounding MSMEs in India, however, we’ll discuss the benefits and…
The demand for revision in the definition of MSME has been pending for a long. The low threshold in MSME definition has created a fear among MSMEs of graduating out of the benefits and hence killing the urge to grow. The new MSME registration process and definition have been simplified, clearing away any previous fears…
Most good startups have one thing in common – a very social entrepreneur who is smooth at networking. In today’s world, it is extremely important to showcase your ware and ideas in front of the right people, at the right time. Due to the growing popularity of startups and the need for a place for…
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…
There is a plethora of fluffy easy-reading business blogs that constitute the bigger business publications on the internet these days. Do not fall for them. These business blogs are written to appeal to the broadest possible audience, which in turn makes their content generic and useless to real businesspersons. Instead, try these business publications because…
Any business owner needs to do proper accounting to ascertain that the business makes profits. In the past, business people kept paper records that would, often, be difficult to consolidate. In the present day, the advancement in technology has eliminated the need for large paper files. Instead, small business owners can use free accounting software…
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…
Australia has a rather simple business structure. Unlike the rather complex 11-type business structures of UAE, Australia only has four main types of companies that can be formed. In this article, we will talk about all four of these business structures, how they operate and what are tax systems surrounding them. So let’s get right…
To start a business in Australia, you need to first apply for an Australian Business Number or ABN. This is a basic necessity every Aussie business needs to take care of. Taking care of the legality is the number one priority, and every legal step has guidelines that must be followed. On that note, in…
Over the years, marketing as a concept has developed a lot. Gone are the days when businesses used the conventional marketing techniques of pamphlet distribution, and newspaper advertisements to reach out to their target audience. With changing times and the evolution of technology and advertising platforms, brands have explored digital channels where they get many…
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…
Are you a budding entrepreneur Down Under? If so, you’ll want to get cozy with the ins and outs of sole trader tax in Australia. Being a sole trader comes with a whole set of perks, like calling the shots and keeping all the profits, but it also means taking the reins when it comes…
Capital gains tax (CGT) and goods and services tax (GST) are two of the major tax systems in Australia. Although CGT and GST are three-letter names for tax systems and sound similar, their functions differ entirely. In this article, we’ll discuss CGT and GST and how they differ. This will help you understand two of…
In the world of Australian taxes, the Goods and Services Tax (GST) is a big deal. But to calculate GST for your business may not be a daunting task. It started back in 2000 and has become an important part of how the country collects money. This tax system has helped Australia grow and build…
In the land down under, the year 2000 brought more than just a new millennium; it ushered in a change in the way Australia managed its taxes. Enter the Goods and Services Tax (GST), a game-changer that replaced the archaic Wholesale Sales Tax and a slew of other indirect taxes. This comprehensive guide takes you…
Do you run a small business in Australia and are curious about the legality and taxes of your business? Taxes in Australia for a small business are well-defined and not way out of the ordinary. This article will allow you to gather enough knowledge before consulting your accountant. Major Taxes For Small Businesses In…
Want to start a small business in Australia? This guide is all about the things needed to start a business in general, such as your business plan and model. We’ve talked extensively from a legal standpoint; on how to start a business in Australia, adhering to the regulations. You will know about the taxes, registration…
The best time to invest in accounting software is when you have a business. A good online accounting software will help you manage a variety of things. A few of them are expense tracking, invoicing, and even inventory management and if you are a business owner who runs a big operation, some accounting software also…
A good accounting software helps take a big load off during tax season. An accounting software is the best way to make and maintain a financial report. To help you find a perfect accounting solution, here is the list of Top 5 accounting software. Before we talk about the top 5 software, let’s talk about…
AI is currently taking over the world. Even The topic is so prevalent in our day-to-day conversations, that you, your mother, and your grandmother all are talking about it. Especially for business owners, AI tools are like a blessing. A blessing, if used right, can create wonders for the business, but as the technology is…
The purchasing power of people is increasing tremendously and especially now that we are bombarded with ads coaxing us to buy something, there’s no doubt that online selling is booming. If you have a product to sell but don’t know where to sell it, this is the perfect place for you. We know that using…
No code and low code development platforms used to be buzzwords and now they are a reality. Entrepreneurs are using no code/low code platforms left and right, resulting in a tremendous efficiency boost. As a business owner, you might face several issues if you do not leverage no-code/low-code platforms. This can include facing a massive…
In today’s fast-paced digital world, managing your finances is easier than ever. Discover the top 7 online bookkeeping service providers that can help you streamline your financial tasks, track expenses, and keep your financial records in check. Whether you’re a business owner or simply looking to stay organized, these services have got you covered. Why…
The pandemic taught us a lot of things. How to make coffee, how to make sourdough bread. The one thing we all learned during the pandemic is how easy it is to be a sole trader. In Australia, more than 31% of Businesses are sole traders, and the trend seems to be catching fire worldwide.…
How do you look for hotels from different websites, do you look at all the e-commerce platforms for hotel booking or are you thinking about trivago, like everyone else? wouldn’t it be wild to have a decentralized network like trivago, but for more than just price comparison? Well then let us introduce you to ONDC…
E way Bill is an electronically generated document issued for the transportation of goods by vehicles. Without an Eway bill, a registered person is not permitted to transport goods from one place to another if the value of the goods exceeds? 50000 or in some special cases where the supply is inter-state i.e., transport of…
Small business management is tough. It requires more work, less time, and most importantly; even lesser business expense. Tracking business expenses might seem like something as complicated as quantum physics if you dont have the right tools in your kit. These are the tools that enhance your money management habits, tools that minimize your tracking…
Are you looking for a marketing method that can connect you with your customers, win over potential buyers, and boost sales? Well, look no further than email marketing! With this powerhouse tool, you can slide right into your audience’s inbox, showcase your products, and build trust in your brand. It’s like having a one-stop shop…
We have seen those movies and TV shows where the lead takes the company American Express credit card and goes shopping on her business day, and say “Put it on my card.” As a business owner who must have thought wow one day, I will too have a credit card for my business and recreate…
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…
Are you on the hunt for the ultimate cold email software to expand your outreach efforts? Look no further than the cold email solutions that we have mentioned in this article. With its assistance in sending automated cold emails, you can rev up your outbound lead generation game and skyrocket conversion rates. However, given the…
In the last five years since the introduction of GST?1,40,00,000 businesses have registered for GST, this is a milestone figure for the government. In the last five years, more than 92 lakh?new businesses have registered under GST which is 75%?of the total sum. The majority of these new businesses that have registered in the last…
Since the availability of the adorable Internet, we have shifted and outsourced the majority of our work to the Internet. Accounting is one of those things. This is why we have seen a rise in the cloud accounting software. If you are a business owner who wants to use accounting software, cloud accounting software is…
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…
Trademark registration is a must for any serious business. It makes the company legitimate, trustworthy, and most importantly secure from intellectual property theft. We all have a basic understanding of the importance of trademark registration, but more often than not, most business owners aren’t aware of the process of registering a trademark for their company.…
What Is Bharat QR Code? Since demonetization of old currency notes the Government of India has been making a big push for digital payments. To encourage cashless transactions and to promote the Digital India initiative, the Government of India has launched Unified Payments Interface (UPI) for smartphones, and for basic and feature phones it has introduced…
Starting a new business is one of the toughest decisions you can ever make. First, you need to find a good idea, then build a plan for marketing, branding, sales, hiring, etc. Then, you need to work on the product strategy and finally, raise capital to execute your plans. Sounds like a lot of work..…
In 2023 If your businesses can’t be found online, you might not have a business at all. No matter what your product or service is, you need to have an E-commerce site. Having an e-commerce website amplifies your company’s customer experience and solidifies loyal customers. India is building a robust internet infrastructure according to…
Picture this: you’re shopping online, eager to make a purchase, and suddenly you have a question about the product. You fire off a message to the seller, and… no response. How frustrating! A good live chat software can solve this problem in no time! In today’s fast-paced world, customers want quick and decisive answers to…
Five Essential Traits Of Successful Startup Entrepreneurs India is slowly becoming a hub for startups and micro and small businesses. With over 40 million small and micro businesses registered in India, it’s safe to say that a lot of people dream of being successful entrepreneurs. But who are these successful entrepreneurs? Are they born with a bit…
We are no strangers to counterfeit products like POMA instead of PUMA, or such fake products, both on online platforms and in local shops. Though Imitation is the sincerest form of flattery, a company can experience a loss of revenue due to people selling counterfeits or cheap fake products under your company branding. For a small business,…
Imagine a business owner. What is the image that comes to your mind? a person in a suite running around calling the shots and making big deals, but will you think that your local mobile repair shop is a business owner or your dry-cleaning lady is a business owner? The answer is simple: these small-scale…
Recently, I was reading about an Indian IT company InfoEdge’s monthly performance report. This company is behind many popular businesses such as Naukri, 99acres, Zomato, and PolicyBazaar.com. While reading the report, I noticed an interesting point. Just take a look at some numbers for Naukri.com : This one site takes 68% traffic share in the…
Google search or as we lovingly call it googling has become synonymous with the word Serch itself. so, if you are a business owner the best thing you can do is, have a business profile for your business. This will make you and your business profile visible to your potential customers. This will help…
Instagram is becoming a prominent platform for just sharing photos and videos, but also for but also for new age pop marketing. You can reach your target audience in a very efficient, simple, and eye-catching way. Many businesses struggle with marketing on Instagram as the algorithm seems to be not in their favor, in this…
Linkedin is a very unique social media platform, Unlike other platforms LinkedIn is exclusively used by business owners and other professionals. People use this platform exclusively to talk bout their professional journey and businesses. Linkedin is by far the most useful platform to get potential clients, talk about your businesses, and improve your professional network.…
With over 2. 11 billion active users per month, Facebook is a social media platform that gives small businesses several ways to promote their products and services, increase customer support and boost recognition in the market. Having a presence on Facebook is a must if you want your business’s content and products to your desired…
An entrepreneur’s journey starts with an idea. But when his small business gets off the ground, capital is required to fuel the growth. Earlier, I had written about 10 funding options for startups in India. Raising venture capital is one of that options. In this article, we’ll discuss VC funding in detail. What is…
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…
According to a recent study conducted in 2021 over 47% of new businesses fail during the first year of operation. Lack of funding turns out to be one of the common reasons. Money is the bloodline of any business. The long painstaking yet exciting journey from the idea to revenue-generating business needs a fuel named capital.…
One of our customers, Mr. Ashok deals in Solar Panels. He recently got a huge order from one of the state governments. He will get some advance payment but it won’t cover the initial investment in buying Solar Panels. Since, its a government order, full payment is assured after completion. However, his biggest challenge…
A very important metric that every business owner should be well aware of is the metric of managing once cash flow. Cash flow helps you understand how you are using your funds as well as help you allocate your capital resources appropriately. For a new business owner learning how to manage their cash flow is…
When it comes to the financial management of any business, it’s often said that Cash Is King! Whether your business is growing or struggling, managing your cash flow effectively is essential, and for many, it’s the key to business survival. Youve probably heard the statistic that over 60% of businesses that fair are still…
Want to kick some serious SEO butt for your small business this year? Maybe you’ve been itching to give it a go, but you’re not quite sure how to start. Well, fear not! We’ve got you covered with the top free SEO tools that are perfect for small business owners and entrepreneurs just like you.…
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…
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…
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,…
Are you an Indian business owner looking to gain a competitive edge in today’s fast-paced market? As the number of startups continues to rise in India, it’s more important than ever for entrepreneurs and business owners to stay informed and up-to-date with the latest industry trends and strategies. What can be a better way for…
In India, Financial Year is from 1st of April to 31st March every year. Hence, 31st March is an important date by which important financial obligations should be fulfilled. It is important for those who are required to follow mercantile system to ascertain the transactions accrued up to 31st March and to properly record the…
Looking to boost your business without hampering your bank account? As a small business owner, you know that promoting your products or services is essential to growing your business. However, traditional advertising methods such as TV ads or billboards can be costly, making it difficult for new businesses to compete. But worry not! In today’s…
Mr. Rakesh is a distributor of industrial pumps for the past couple of years. Recently, he met a potential customer at one exhibition and after explaining about the products he sent a quotation to that customer. After receiving that quote, the first thing that the customer did was to google Mr. Rakesh’s company name on…
As a business owner, you know that time is money. And while it may seem like a good idea to handle every aspect of your business on your own, the truth is that it’s not always the most profitable option. In fact, sometimes saving money can actually cost you money in the long run.…
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…
If you’re a business owner, you must have faced the issue of wasting your precious time on menial tasks like scheduling interviews, conducting manual accounting, sending hundreds of emails to generate leads, and spending countless hours on video creation. All this, while getting slow results. No worries; automation tools and business software are here to…
Do you know which is the underrated yet one of the most powerful and promising tools that play a great role in the success of a thriving business? It is a well-functioning and efficient software for all your business needs. Accounting software that meets all your business requirements helps the business to stay on top…
Top Payment Gateways In UK An online store is the best way to achive the dream of owen a buinesses for many new buinesses owners, but haveing a buinesses is chalanging especially the flow of money and customer transactions. This is where a payment gateway comes into picture. They are a fantastice resource…
Top 6 Payment Gateways in US Online payments have become a part and parcel of our daily lives. Were transacting online not only through debit or credit cards but through numerous other modes like UPI, net banking, and wallets as well. Paying online is a fundamental feature that every e-commerce platform in the…
What is a Payment Gateway? A Payment Gateway is simply an e-commerce service that processes, verifies, and accepts (or declines) direct payments or credit card processing on behalf of merchants using secure internet connections. It fulfills the important roles in e-commerce transaction processes between a merchant and a customer. It is used to help facilitate…
If there is one technology that has flourished on a huge scale in the last couple of years and has redefined the e-commerce industry, it is the rise of online payments. From UPI payments to internet banking, the birth of online transaction methods has undoubtedly made things easier. Any business can integrate different types of…
Each aspect of your business is equally important, but if there’s one that stands more crucial than others, that would be the point-of-sale (POS). It’s the moment when a potential client finally transitions into a paying customer. Most businesses already have an established point-of-sale system. For brick-and-mortar stores, that would be the cash register…
Do you find it hard to get new business leads, or retain your customers? Anyone who owns a business has faced this situation at some time or the other. If you are a business owner, you must be aware of how important it is to be up-to-date with your leads and customer data. To sustain…
Nowadays, everybody can record and share videos instantly, but not everything can be done with the limited editing options that come with regular smartphones! There are plenty of special effects, styles, and liberties that youll want to feature on your video content, and can only be accessed through video editing solutions. The thing is that,…
ChatGPT is all people are talking about these days, you might have read about it in the news or on the internet. If all that buzz about ChatGPT has grabbed your attention and you know more about AI technology and how to utilize this tool in your business or startup you have come to…
Top 9 Global Payment Gateways Online payments have become a part and parcel of our daily lives. Were transacting online not only through debit or credit cards but through numerous other modes like UPI, net banking and wallets as well. Paying online is a fundamental feature that every e-commerce platform in the world…
If you are someone who has recently set up or has been running a small business for some time, as a business owner you must be aware of the challenges that come with it. All the nitty-gritty, taking care of every single detail and managing everything almost alone can get quite daunting. Maintaining different kinds…
Have you ever imagined or visualized your business succeeding and thriving because of one good software? Activities like keeping a track of all your bank accounts, manual expense management, or expense tracking feel very overwhelming. This feeling can be managed by using a good accounting solution. Well, it is all a matter of selecting a…
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…
Shopify Vs Amazon: Where Should You Sell? There has been a longstanding debate on Shopify Vs Amazon and which e-commerce giant will be best suited to your selling needs. This battle, Shopify Vs Amazon, can easily be regarded as the biggest in the world of e-commerce. In addition, it cannot be denied that…
The demand for accounting software has doubled due to the increase in small businesses and freelancers in India. But an all-in-one software like Xero is too expencive and difficult for small business owners and startups. Let us look into Xeros usability and alternatives that save small businesses in India. Who should use Xero? What are the…
Timely payments are very crucial for a business. You will be able to have a smooth operation if your cash flow is regular and consistent. This cash flow is important especially for small business owners as they don’t have heavy capital like big co-operations. Unfortunately, business is not as ideal as we wish it…
Invoicing explained Invoices are a critical element in business. In simple words, it is a commercial document that helps maintain records of a transaction between a buyer and a seller. An invoice tells your client how much they owe you, when the payment is due, and what services you provided. If goods or services were…
Finding the right person for the right job is the difference between successful and unsuccessful businesses. As this is largely dependent on the HR department, finding the HR tools can also make a difference. To find these perfect candidates who are in line with the company goals and vision, business owners have an HR department.…
In the modern business landscape, business owners have to keep track of a lot of moving parts. Even small businesses cannot keep track of all their accounts payable, accounts receivable, payments, etc. without the help of proper bookkeeping software. Today, there is a huge and diverse menu of accounting software that you can use for…
Businesses are very demanding. Constant innovation, development, and being creative keeps all entrepreneurs busy. Accounting should be the last of your worries. leaving all your financial issues to a tech firm that doesnt take a lot of your attention and still provides results? is a very efficient way to outsource your accounting needs. If youre…
Quickbooks is a very convenient accounting software, but they are not well suited for the Indian market, They have also announced its exit from the Indian market. Hence there is a need to find alternatives to Quickbooks. Whatever the reason may be for your shift of platform, we got you covered. Today we will be…
Released in 1986, Tally is one of the first software solutions that originated in India. When first released, it was a simple collection of accounting functions. Now, it is a all rounder product that allows large companies, small businesses, and startups to plan avalible resources systematicly. The software hit its stride in the early 2000s…
The best way to grow any business is by providing great customer service and in order to create that bond with your customers you need a customer service department or a customer helpdesk. After all, having a great relationship with the clients is what makes a business thrive and grow. Support and Query management are…
After years of research, courage, and innovation you have finally made a product or service you are proud of. Your creation is ready to be out in the world to buy or use, the website looks applicative; you are ready to make it live. Now the only problem which is bothering you is which…
If you own a business, your gains are subject to taxes by the government. Business owners often lose a big part of their gains to income taxes. Therefore, business owners need to understand how to identify tax deductions relevant to their field of work. Higher tax deductions for small businesses also equate to a…
If you are an individual who had lived a life, you have fun stories to share and experiences to talk about. Your friends and family have heard your stories before, it’s time for you to have a podcast. From CEO to college students having a podcast can be an experience of a lifetime, Podcasting…
How would you feel when the most critical software that you use to run your business suddenly announces that they will no longer serves you? This is what happened when Intuit QuickBooks announced that they are going to shut down their India business. As a founder of a competing accounting software (ProfitBooks), I was surprised…
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…
Podcasts are like the Swiss Army knives of knowledge, fitting an entire library of insights into the palm of your hand. Consider the following scenario: you are an entrepreneur who has recently started a new firm or has been running one for quite some time. You can barely find time for yourself in your busy,…
If you are a new business owner, then you might be familiar with the struggles of running a business. Buying raw materials, and organizing the business takes immense effort. Checking your money inflow and outflow and tracking all your payments and expenses for the business can be a challenging process. Switching to accounting software to…
Delayed payments are a persistent problem for small businesses, leading to increasingly severe effects and several concerns about their liquidity as a result. One in three businesses considers overdue payments one of the most serious dangers to their viability. A significant gap between income and managing real cash flow could be one major issue,…
It’s not uncommon these days to discover folks who want to start from scratch and construct something from the ground up rather than looking for employment that doesn’t pay much. This is when a eureka-type business idea can save the day. Business ideas are one thing, but implementing them is another thing entirely. It is…
When you run your own business, every sound of tick-tock in the clock is precious for you. But, when it comes to keeping yourself going, regardless of where you are in your business journey, you always look for sources to learn something new each day. For that, YouTube has been an excellent platform for…
On 16th Jan 2016, Prime Minister Mr. Narendra Modi announced a bunch of benefits and schemes to promote the start-up ecosystem in India. The event was called ‘Startup India, Stand up India’. It has immense importance because, for starters, it was the first of its kind dialogue between Indias startup community and the government. Startup…
Accounting software is of immense help when dealing with the finances of your business. Especially, when you don’t have much knowledge of accounting and bookkeeping. Accounting software minimizes your chance of financial mismanagement and facilitates invoicing, expense tracking, and payroll. It helps you keep your books up to date-and balanced and avoid any confusion during…
If you own a business, your gains are subject to taxes by the government. Business owners often lose a big part of their gains to income taxes. Therefore, it is essential for business owners to understand how to identify tax deductions relevant to their field of work. Higher tax deductions for small businesses also equate…
Having a good plan for your business is very beneficial, not only gives you clarity but also helps for other reasons like getting investors. A solid plan is very crucial for all businesses making a business plan, is not an enjoyable process. In this blog, we will help you to create business plans as well…
The fact of importance of invoicing in our day-to-day business life is undeniable. As it helps to sustain the consistency of cash flow into your business. Acknowledging the diversified varieties of invoices, to increase the cash flow can be a game-changer in the business practices of your company. And this is how you can enhance…
In the end, everything comes down to your copy. To open a sales email, or not to; this is a common question that every person (including you and I) faces every single day. B2B buyers receive hundreds of emails regularly. They only open a small fraction of sales emails, read even fewer, and act on…
A common challenge for both small and large companies is how to handle inventory problems and solutions. The many processes involved in inventory management mean you need to keep a careful eye on your items. Knowing this is crucial for understanding inventory inefficiency. Otherwise, your products can easily get lost or damaged. This task…
Understanding what your expenses are is the first step in establishing a business that has a solid foundation. While its true that counting your expenses can be a lot less exciting than counting the profits of what your business provides, it still is an important part of how you can fully understand how the…
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…
When buying online, customers usually need an extra incentive that makes them feel confident about their decision. Luckily, product videos are a great way to provide all the helpful information (and that little extra push) most people need for a purchase. But before you start adding a bunch of these videos to your marketing strategy,…
It takes a long time and a lot of effort to get to where you can finally start your business. But the hard work doesn’t stop, once you begin running your firm. You will face a slew of other milestones and obstacles, accounting being one of them. Accounting is critical as you start your…
Small business email marketing might be a headache for many, as the owners try to find the best tools and platforms to invest in. Businesses are looking for effective ways to boost their presence and engagement with a limited budget, ensuring the money is well spent. Email marketing has experienced huge growth in the past…
Small business owners, should be very cautious with the money they are spending on their businesses. This might be very difficult for a lot of individuals. As not all business owners don’t have fancy business degrees but worry not! In this article, we are going to talk about the most common financial mistakes that small…
Prime Minister Narendra Modi launched an electronic voucher-based digital payment system e-RUPI on August 2, 2021. The platform will be a person-specific and purpose-specific payment system. The launching of the e-Rupi confirms Indias first step towards having a digital currency in the country. Let us dive into the basic understanding of what e Rupi…
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…
Its been a long pandemic and it still continues to exist. Amid this pandemic, we have figured out a lot of solutions to our problems, a lot of ways to manage everything around us. We have changed some old methods and have transformed them into something that suits current situation and adjustments. One such…
However you look at it, email marketing continues to be a powerful advertisement tool, even today. But it is also one that most businesses allow to go underused and is underestimated most of the time. It doesnt take a genius to look at the numbers and realize the potential value there, yet for every…
According to the Bureau of Labor Statistics, about half of all businesses will close in their first five years of operations, and one of the most common reasons for closure is mishandling funds and running out of money. Rather than malicious fraud or disastrously low sales, what usually leads to financial crisis comes down…
The old adage “it takes money to make money” couldn’t be truer in the world of entrepreneurship. Unfortunately, getting the money that you need to expand or sustain your business is not always going to be easy. In some circumstances, you will be able to finance business endeavors with the revenue that your business is…
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…
For startups and small businesses, bookkeeping can be a real challenge. As an owner or manager, you encounter these three options for accounting: do it yourself, hire an employee to do it, or let a third party take care of it. All of these options have drawbacks. With your spread-thin time, doing it yourself eats…
The digital age has brought endless possibilities to start online businesses of all shapes and sizes, so there’s something out there for all types of people. If you’ve got a knack for numbers and a good head for organization, starting a bookkeeping business might just be the right choice for you. It’s also a…
If youve been running a small business for a few years, its likely that your questions have evolved from the earlier days of How do I attract more customers ? to questions more along the lines of How can I utilize my time better? and What questions dont I know to ask that could grow my business faster? You might…
Have you struggled to find the accurate amount of a transaction to close out the month? Maybe your team scrambled around to recognize what went wrong in the reporting cycle; or tried to identify how you achieved stronger sales last quarter. Problems like workflow issue solutions, significant accounting errors, and budget assessments can all…
When you are running a company or managing accounting, there are some basics you need to be clear about before you indulge in complicated transactions. Transactions can be difficult and, in order to ensure that all is in place, bank reconciliation is necessary. If this prompts questions to pop in your head, further down is…
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…
Small business owners make up for a majority of the working class around the world. Here are some numbers to support this claim: Small business units form close to 58% of the total employment. This number goes considerably up in low and middle-income countries. It might come as a surprise, but in countries that…
Why You Should Consider Starting an Online Business During the Pandemic For most niches, a business cannot continue as usual. Brick and mortar stores will feel the pinch that comes with behaving responsibly amid a global pandemic. Existing enterprises have an advantage over nascent ones, but they’re still struggling. Yet, according to the Wall Street…
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…
“It’s not about ideas, It’s about making ideas happen” Entrepreneurs often believe that profit is what matters most in a new enterprise. But profit is secondary. Cashflow matters the most. When you are an entrepreneur, there are a lot of tasks and processes that demand your attention. On top of regulating employees and payroll,…
The current pandemic has created financial instability for a lot of businesses. The measures that the government took to safeguard the citizens along with the threat of COVID-19 has led to the downfall of many businesses. A survey says that more than 30% of small businesses may go out of business due to this…
As we all know, people love to try products before they buy them. Looking at how something works with their own eyes is the best way to understand if a product is going to fill their expectations. And hey, that’s completely understandable. Nobody likes to feel disappointed by something they just bought! But with the…
Raising Funds For Your Business: Live Webinar By Mr Mukesh Mohan Gupta. At ProfitBooks, we believe that good financial health is key to running any successful business. That’s why we are on a mission to help 1 Million SMEs to organise their finances. After the Covid-19 impact, income has either stopped for a lot of…
Tough Times – Right Decisions: Chanakya Neeti for Managing a Business Through the Right Leadership. At ProfitBooks, we believe that good financial health is key to running any successful business. That’s why we are on a mission to help 1 Million SMEs to organise their finances. Things have changed dramatically in past couple of…
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…
When it comes to running a small business, having the right tool for the job can make a huge difference in both your workday and your business performance. That’s why now is a great time to be an entrepreneur — you still need to wear a lot of hats, but there have never been…
Within the past few decades, IT (information technology) has become a massive part of nearly every organization and office. The business world has gone digital in several aspects. A lawyer that aspires to achieve the best for his clients should also effectively devise a means of information flow between him and his clients. A lawyer…
Accounting is one of the essential services of any business, be it small or big. And accounting firms play a major role in the growth of a small business. Businesses are often forced to spend a lot on the accounting department. There are various approaches that a business can take when it comes to…
Top 8 FREE Accounting software in Australia What is an accounting software? An accounting software is a type of software that assists bookkeepers and accountants in recording and reporting a firm’s financial transactions. With recent technological trends, accounting software has become an…
4 Ways To Ensure Security At Workplace Its your duty as an employer to provide and maintain a safe working environment for all of your employees. Whether youre working in an office or a factory, security should always be a priority. A safe workplace is one thats free from hazards, which employees, managers and directors…
How to Use Video to Build Consumer Trust in your E-commerce Company In the ephemeral online world, trust is too much of a precious thing. It’s not uncommon to see news about identity theft, online scams, phishing, and whatnot; people don’t usually associate shopping online with security, and who can blame them? This…
Stock damage or inventory damage is one of the biggest challenges faced by several managers and business owners in today’s highly competitive market. If you’re running an enterprise, along with the stock, you have to handle a lot many things. Read our article on 7 mistakes that entrepreneurs should avoid. for some tips on running…
7 Mistakes That Entrepreneurs Should Avoid Entrepreneurship is not a child’s play. The inevitable side effect that every entrepreneurship has to face is “failure.” Most of the thriving business persons have felt the taste of failure. Surely, it is not as satisfying as the feeling of success. However, it is a significant one. It is…
Are you torn between WooCommerce and BigCommerce for your online store? In this blog, we’ll dive into the pros and cons of each platform to help you make an informed decision. Let’s compare WooCommerce and BigCommerce head-to-head! Hunt for the Best eCommerce Platform Today, every business owner wants to take their business online due…
Co-working spaces are quickly gaining popularity among organizations and are doubling their inventory from the past few years in the major markets in India. Seeing co-working spaces climbing charts industry experts and asset owners are making researches about whether this segment holds a future or not. Flexible workspaces or business centres in India are…
What Is Order Management? Some businesses manage their orders manually and keep their records in ledgers. That being said, this is only good for small companies who process very few orders on a daily basis. For big companies with larger order inflows, the task of order management and processing can be challenging to carry…
Buying and selling online- or eCommerce- in India will cross the UD$84 billion mark by 2021, says a joint report by Deloitte India and the Retail Association of India. The rising popularity of smartphones and inexpensive Internet packages will be the main drivers of this growth, the report entitled Unravelling the Indian Consumer further says.…
Inventory management can be a cumbersome task, especially if you have a large inventory to take care of for your company. Moreover, if it is not done the right way, it can lead to a lot of problems and losses. The right kind of inventory management is the key to success for a startup as…
4 Ways Flexible Packaging Could Benefit Your Business In an age where efficiency has become a guiding principle for every enterprise, saving time, money and energy has never been more important for financial decision-makers. Taking a conscious and robust approach to product packaging and delivery is one way to combat this issue in your enterprise.…
According to a Forbes-Google Video in the C-Suite study, lots of senior executives watch work-related videos and prefer video content over text. The study further found that these executives are open to sharing and viewing B2B videos on social media. In fact, among B2B marketers, videos are already the third most popular form of marketing…
Do you want to become a pro-Amazon seller? Here are the ten useful tips for selling on Amazon. Amazon is growing every year and is also a robust market place to survive. Numbers of Amazon seller accounts are rising day-by-day due to which the market is getting more competing than ever. If you have…
Late payment disrupts cash flow. Cash flow is the lifeblood of any business. Without cash flow, your business will crumble. It may seem unimportant for a small invoice to go unpaid. But, imagine a situation where this number keeps growing. How would that affect your daily operations going forward? To be blunt, it would…
Business! every step you take in your business should be calculated and tracked. If you are not tracking it, you are doing it wrong. Poor inventory management can be the absolute reason why your businesss efficiency is not the same as it was before. But there is much more to inventory than just its basic…
Every Startup owner knows the struggle and importance of dealing with invoices. Money is the core feature of your business and you don’t want to mess it up, especially when you are just starting off, right? Everybody carries a manual of all the right things to practice in their business but it’s equally important to…
Invoices or invoice creation are mandatory by the Government of India under GST laws. While making these invoices you have to take a lot of things under consideration. One of these key elements is- The invoice payment terms and conditions. When it comes to starting a business or managing an existing business effectively, the…
We are living in a world where carrying out daily business and personal activities is becoming very easy and smooth. In an era where digital signatures are being greatly embraced in the entire world, we no longer have any limitations in our business or personal lives. Typically, physical documents like invoices will always need a…
In our endeavour to help entrepreneurs to grow their businesses, we published lot of insightful business articles last year. Ive handpicked 10 of them that instantly stuck the cord with our readers. Hope youll enjoy these posts. Here are our most popular business articles from year 2017.. 1) How To Get Working Capital Loans…
Small business owners are often overloaded with tons of activities revolving around their business, and they have very little time left for managing cash flows or scratching their heads on companys finances. On the other hand, mismanaging your companys funds might lead to total failure of your business. Even though you have the brightest…
What is cloud computing? Everyone has been talking about the cloud. But what does it mean? Cloud technology or cloud computing is encountering a rush of applications these days. It is not just a sudden shift from traditional software models to the Internet, it has been steadily gaining pace over the last fifteen years. Looking…
In earlier articles, we’ve covered various aspects of Goods And Services Tax, how to create a GST invoice and finally how to file GST Returns. Now, once you file the returns, it becomes little tricky to make changes to the transactions of that particular month – specially Invoices. But we are humans and changes…
After a decade of debates, amendments, discussions, and varied opinions, India is all set for the implementation of GST Laws, which is a historic move by the government of India. The One Nation, One Tax is the core reason for the GST rollout, making way for GST software to emerge. It is a simplified, yet…
Every month suppliers will be required to upload their invoices to GSTN portal and those will be matched with the purchases from customers. So, invoice matching is going to be a monthly affair for businesses. Use of IT systems for bookkeeping and tax compliance work will be seen even in many small and medium…
GST is almost here and you must be wondering about lot of things, like – how this is going to impact my business, which vouchers will change, what are the minimum things I need to do in order to comply with GST and so on. We know this is going to be confusing and…
If sell products or services in India, you must be issuing invoice to your customers. Every business in India needs to know about the new GST invoice rules going forward. In this article, we’ve explained how to create GST invoice, various components that must be there on invoice, format of GST invoice and much more.…
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…
Mr. Vinod manufactures solar panels. He just delivered a huge order to one Government office. As per the agreed payment terms, he will get the payment after 3 months. Now, he got another big order. But the problem is he doesn’t have enough money to procure raw materials to fulfill this order. His payment is…
Goods and service tax (GST) is set to go live in India on 1st July 2017. This is the biggest tax reform as its going to replace around 18 indirect taxes. Naturally, there is lot of confusion around GST. In order to make business owner’s life easy, companies have launched GST mobile apps. At the…
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…
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…
“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…
In our endeavour to help entrepreneurs to grow their businesses, we published lot of insightful articles last year. Ive handpicked 15 of them that instantly stuck the cord with our readers. Hope youll enjoy these posts. Here are our most popular business articles from year 2016.. 1) 12 Inventory Management Techniques To Cut Losses Inventory is…
Mukesh Ambani takes Rs. 15 Cr as his annual salary, Snapdeal co-founders earn Rs. 46.5 Cr each, Flipkart founders take home Rs. 20 Cr every year, Mark Zuckerberg prefers to pay himself $1 per year, and Narayan Murthy earned just Rs. 1 as his annual payment. So, what’s the right salary for an entrepreneur? If…
Certain things just dont mix well like milk in Maggie or your parents and your goal plans, and even tho you can separate your goa plans and your parents .You should separate your business and personal finances separately. On paper this might sound simple and easy, but one day to get some groceries from…
ProfitBooks offers the simplest way to create professional invoices. However, creating and sending an invoice to your customer is a job half done. Most of our users tell us that it takes them average 18 days to receive money once the invoice is sent. So, to solve this problem, we had integrated Instamojo payment gateway with…
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…
In todays scenario where doing business has become more stringent due to the mandatory requirement of complying with multiple & complex laws, taxation law is something you should outsource to an expert. Taxation laws not only in our country but all over the world are complex and not everyones cup of tea. As a business…
Sometimes, your invoice is the last communication that you have with your client and its very important to leave lasting impression. At ProfitBooks, we’ve seen many businesses suffer from late payments due to improper invoice payment terms. In this post, I’ve explained how to write invoice payment terms that can help you get paid faster.…
We were planning to conduct a small workshop for business owners. There were a lot of activities to be done – Like sending invitations, confirming attendance, booking the venue, printing promotional materials, etc. Now, the problem was, we didn’t want to hire someone full-time just for this as it would involve more time and…
As a business owner, we are always looking for ways to cut costs. If you operate out of a metro city, its difficult to find cost-effective options for business meetings, conducting interviews or finding an affordable place to work. Sometimes investing in an office infrastructure is not possible for early-stage businesses. This is where coworking spaces…
Setting up Taxes in ProfitBooks is easy. Just to go Accounting menu and click on Taxes. In this article, we’ll explain how to setup Service Tax, Swacch Bharat Cess and Krishi Kalyan Cess: Important Notes Here is a quick calculation for new service tax rates that is effective from 1st June 2016. Taxes are…
For small businesses, social media is the key to success. In the past, building a brand and attracting new customers was a daunting task, and while its far from easy, social media makes it more possible than ever before. If your business isnt on social media, its time to change that. Today well look at…
Update – Read about 5 Key benefits announced in Budget 2017 for startups. When finance minister, Arun Jaitley was about to open his Goodie Bag while presenting the union budget 2016, expectations from the startup community were sky high. In order to boost small business and MSME sectors, Mr. Jaitley announced various schemes and policies in…
A lot of businesses had to either change the way they work or shut down due to these fast-changing environments. This brings us to an important question – Can you future proof your business? Can we increase the chances of business survival? Let’s explore with a daily life example. Last weekend, I wanted to…
Now, get paid faster with ProfitBooks. You can now add a payment link to invoices when you email them to your customers. This guide shows how to integrate your Instamojo account and start receiving payments directly in ProfitBooks. Meet Instamojo Instamojo one of the best payment gateways in India. You can enable your customers to pay you…
Inventories that are mismanaged can create significant financial problems for a business. The use of inventory management techniques can reduce the troubles of the supply chain. And an inventory management solution can provide a better future for retail business. Raj owns a retail store in Mumbai and last year he started selling on eCommerce marketplaces.…
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…
Starting 15th November 2015, Hotel, Mobile Phone bills, airline tickets will get more expensive with the finance ministry of India deciding to impose a Swachh Bharat cess on all services. As a consumer, you will have higher input cost for your business and as a business owner, you need to be sure how to deal…
We know Facebook as a social network where we share updates with our friends. But did you know that you can use Facebook for business? Facebook is perhaps the only social medium that can help you reach out to over a billion people. It knows more about your customers than you do and can help…
How often you see someone starting a business with just an idea and then transforming it into an multi-million dollar business in couple of years? Today, I’m going to share a story about one such entrepreneur who did exactly this and much more. Meet Samir Palnitkar, President of Zinrelo. I got an opportunity to interact with…
Whatsapp has more than 2000 million active users! dame that’s a lot of people sending good morning messages which cute animal pictures, but imagine the marketing and sales potential this one app has. If you create a business profile on the WhatsApp Business API, you will be able to sell and advertise, as well as…
It 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.…
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…
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…
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…
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…
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…
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…
We are writing this article specially for Indian SMEs to make them aware of the important compliances for private limited companies that can attract fine if ignored. If you have recently formed a Private Limited company and started your business in India, you must get yourself familiar with few important compliances by Companies Act 2013.…
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…