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How Dunning can Help in Timely Collection of Dues?

28. July 2021By amitmundra

The most crucial factor to keep a business sustainable is the steady flow of cash. If the cash flow is interrupted due to negligence in collecting dues, the business’s financial health suffers. Sometimes it may be a seamless process – the client making payments before or on time. However, on some other occasions, you may … Read More

Efficient Resource Planning Techniques for Small Businesses

22. July 2021By amitmundra

For every emerging enterprise, the biggest challenge does not involve coming up with a new idea; it lies in sustaining that idea. To be a successful business, the rule of the thumb is to keep it buoyant. A study indicates that only 48.5% of the startups remain open and turn into small businesses after five … Read More

Is Accounting Online Safe for Businesses?

16. July 2021By amitmundra

The process of using internet technologies such as your smartphone or web browser to function business accounting is called online accounting. The purpose of online accounting is to replace spreadsheets, manual accounting that is paper-based, and other traditional software so that data can be accessed easily and conveniently. For this purpose, Imprezz can be trusted … Read More

What Is Safety Stock? How It Can Be Determined?

14. July 2021By amitmundra

What Is a Safety Stock? The extra quantity of a product that is stored inside the warehouse to make sure that products remain in stock and an out-of-stock situation that can be avoided is called safety stock. If you manage to maintain this stock successfully, it will serve as insurance in situations where the demand … Read More

ICAI has issued an exposure draft of the revised accounting standard

12. July 2021By amitmundra

The Institute of Chartered Accountants of India (ICAI) has recently displayed an exposed draft on income taxes. This draft is for a revised accounting standard.  The exposure draft is indeed the newest among other few standards of accounting that have been proposed for revision.  This draft is supposedly applicable to all entities that are not … Read More

What is the difference between Journal and Ledger?

2. July 2021By amitmundra

According to the double-entry system of bookkeeping, each transaction affects two particular accounts. The process of accounting can be defined as the process of recording every financial transaction in the system. This process starts with creating a journal that is followed by a ledger account, trial balance, and final accounts. The two important pillars that … Read More