What are B2B Sales? Business-to-business (B2B) describes a relationship, situation, or marketplace between one business entity and another. A B2B company is one that sells to other businesses. B2B sales refer to a sales model or a category of selling

An Accountant Problem In Accounting Accounting is one of those topics that when mentioned most people shudder and rather dig trenches than have to deal with. When you run a business there is already so much to worry about with

Accountant job In Office Prepare balance sheets, profit, and loss statements, and other financial reports. Accountant duties and responsibilities also include analyzing trends, costs, revenues, financial commitments, and obligations incurred to predict future revenues and expenses. Reports organization’s finances to

Definition of Tax in Accounting One of the most frequently debated political topics is taxation. Taxation is the practice of collecting taxes (money) from citizens based on their earnings and property. The money raised from taxation supports the government and

Cost Centers in Tally Accounting   Meaning of a Cost Center? The Cost Center is a department or a distinct unit or division within the framework of a company. These cost centers indirectly contribute to the organization’s profits. For accounting, all

Inventory Maintain in Accounting Inventory is the physical supplies you sell or use to provide services as part of your business. Your inventory is one of your most valuable assets, and keeping track of it accurately is essential to running

Definition of TDS in Accounting What is TDS in Accounting? TDS or tax deducted at source is a deduction made by someone while making a payment or crediting the account, whichever is early. This could be your employer, customer or

Bank Statement in Accounting A bank statement is a document (also known as an account statement) that is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month. Bank statements contain

Adjusting Entries in Tally Accounting The purpose of adjusting entries is to accurately assign revenues and expenses to the accounting period in which they occurred Whenever you record your accounting journal transactions, they should be done in real-time. If you’re

How to Finalize Balance Sheet in Accounting   What is the Balance Sheet in Tally? The report showing the assets and liability of the company on a given date is called a balance sheet, in simple words, the balance sheet

What Is a Secured Loan What Is a Secured Loan. A secured loan is a loan backed by collateral—financial assets you own, like a home or a car—that can be used as payment to the lender if you don’t pay

Unsecured Loan In Accounting Meaning Of Unsecured Loans Loans are funds extended by banks or financial institutions based on the agreement that the borrower would repay the amount in full along with certain interest on a monthly basis. The monthly

Rectification in Tally Accounting When an error is committed in the books of accounts the same should be corrected to show true numbers in financial statements. If the error is immediately identified it may be fixed by striking out the

Bank Reconciliation Statement in Accounting What Is a Bank Reconciliation Statement? A bank reconciliation statement is a summary of banking and business activity that reconciles an entity’s bank account with its financial records. The statement outlines the deposits, withdrawals, and other activities affecting

Petty Cash Definition in Accounting What is petty cash, and what are the benefits of maintaining petty cash in business? In simple words, petty cash is that small amount of cash of a company or organization which is kept in

Definition Of Financial Year in India What is the financial year? What is financial year and assessment year. In simple language, the financial year is said to be the year in which companies and organizations prepare their budget. Just as

Understanding drawing in accounting What is drawing? and how to maintain drawing in accounting? The simple meaning of drawing is that when some item or cash is taken out of the business by the owner of the businessman, then it

What is the meaning of capital in business? What is the capital, and what are the types of capital? The simple meaning of capital can be applied to money. All those things can be taken in the capital which gives

What is the Meaning of Buyer What is buyer? And what is the types of buyer ? Buyer means all those persons or entities who are buying any goods or services. The buyer can be a big businessman and can

Definition of Seller in Business What are sellers in business? And why are they necessary for any market. A seller is a person or entity engaged in providing goods or services or property to the buyer. These are the people

Meaning of debit note in tally accounting What is debit note? And why debit note is used in tally? Debit note means purchase return. In simple words, the definition of debit note is given, then when a buyer buys an

Meaning of Credit Note in Tally What is a credit note in Tally? When a customer returns the item purchased on credit or in cash to the seller, this process is called sales return. A credit note is sent by

Meaning of sales in Tally Accounting What is sales in tally? Sales in tally means that when a businessman in a business sells his product or service to another person and takes money in return, then it is called sales.

Definition of purchase in Tally Accounting What are purchases in tally Accounting? Purchase in tally means, Such items are bought by the businessman which can be sold again by the businessman. When the raw material is bought by the businessman

Meaning of Commission in Tally What is the commission of Tally? Commission means that as compensation to a person, there is money given by a company for selling its service or item. The commission can also be in percentage. And

Definition of Loan and Liabilities in Balance sheet What are loans and liability? Liability is the responsibility of any person or company that he has to pay in a given time. In simple language, when a company or person borrows

Meaning of Loan And Advance Assets in Tally Accounting What is loan and advance in tally and how to maintain loan and advance in tally. Loan and Advance is the amount given by the owner of the company to another

Meaning of Loan in India What is loan ? Friends loan is money taken by a person or company from any bank or financial institution to fulfill his personal needs. In which we pay back that money with interest. In

Meaning of Interest in Tally Accounting What are the interest . And what is the interest in tally accounting. the interest is that amount, then it is given by a debtor to the moneylender in exchange for money. When a

Updated New GST Rates as on Sep 2021 In the 45th meeting of the GST Council held in Lucknow on Friday, 17th September, many big decisions related to GST were taken. In which Nirmala Sitharaman ji has decided to increase

Meaning of Discount in tally? What is discount in tally? Some percentage is deducted or reduced from the original price of any product, it is called discount. Let me explain discount to you in a simple way. If you went

Meaning of Dealers in Tally Accounting What is a dealer, And how many types of dealers are there in Tally? Friends, if you also think that dealer and distributor are one, then this is absolutely wrong. The dealer and distributor

Definition of ROI (Return on Investment) What is (ROI)? The full form of (ROI) is Return on Investment. This is such a formula that any organization or any distributor whether it is monthly or early can easily find out its

Understanding Investment in Tally What is Investment. When a person or businessman invests his money in such a place where in the coming time, he can get more money in return for his money, it is called investment. In simple

Meaning of gain in tally Accounting What is gain and how is it calculated in tally. Often people take income and gain as one, but these two are completely different. If a person buys an item for Rs.20000/- and when

What are groups in tally Accounting? Someone in tally is called a group. And what are these types? In Tally, groups are a group of ledgers of the same nature. And in Tally, the group of the ledger is called

What is Bed Debts in Tally Accounting What is bed debts. Bed debts are one type of Expenses of a business, then the business owner has to bear it. If the owner of the business sold an item to a

Accounting Voucher in Tally prime What are Types of voucher in accounting ? Voucher is a type of document in tally accounting which any accountant keeps records of his business in tally books. Vouchers are used to perform all types

Inventory Voucher is used to make any kind of stock related entry in tally. In accounting voucher only account entry can be done but in inventory voucher all the entries related to stock like warehouse, stock, value of stock, location,

What is Expenses in Tally? What is expenses and losses in Tally? Expenditure is a type of expenditure which a company or an individual does with the aim of earning profit, these expenditure can be direct and can also be

Profit and Loss Statement (P&L) Definition What is Profit and loss statement in tally? profit and loss is a type of financial statement. Which summarizes the costs, expenses and revenues incurred within a given period, quarter or year. P&L is

Definition of Unearned Revenue? What is Unearned Revenue in accounting and what is its effect on accounting. unaccrued income would mean income that you have already received but the services of that income have not yet been rendered. unaccrued income

What are Outstanding Expenses in Accounting? What are outstanding expenses? Outstanding expenses are those expenses whose services we have taken but have not paid for those services yet. There are all kinds of expenses for running every company, in which

What is accrued income? Income that the business has earned but not yet received. Simply put, we have given services but have not received the amount yet. We call it earned income. These are kind of current assets because we

What is Depreciation in Accounting What are Depreciation? When a company or a firm starts a business, the company has to purchase all kinds of Assets to run that company, but when some time passes, the value of the assets

When a transaction takes place, there are always two affected, in which one is debited and one account is credited. In Tally Accounting, an account is created for each ledger.Ledger is that part of accounting in which every transaction made

What are vouchers, when we make an entry in tally, we call it a journal entry, and the voucher we enter is called a voucher. In this post you will know about the different types of Vouchers. And when we

What are prepaid expenses, those expenses which we paid ahead of time but have not availed the service yet, or we can call them such expenses which we have paid but we will get its service in future, if I

Meaning of Balance sheet in Tally What are Balance Sheet in Tally? The report showing the assets and liability of the company on a given date is called balance sheet, in simple words, the balance sheet shows the actual position

In this blog, I will give you complete information about GST, what is GST, what is the full name of GST, what are the types of GST, when GST was implemented in India, and the benefit of GST coming to

Friends, today I will give you complete information of Tally course in India, in which details of tally course, How you can become an accountant, and if you have done tally then scope of tally and what jobs you can

Friends, today I will tell you what is income in tally, friends, when a person starts a business, then that person wants that he should profit from business. And when he starts business, we come to know only through income

Understanding shortcut key in tally What is the shortcut key in tally? In Tally accounting, the shortcut key is used to mean all those shortcut keys, with the help of which accountants use while doing accounting in Tally. Just as

Friends, today I am going to tell you that what is ledger in tally, and how to create  ledger in tally. Accounting is a process of business so that the owner can know whether he is getting Profit or Loss

What are Liability in Tally Accounting? What is liability in Accounting often we hear the word liability in business, so friends what is this liability . In this post, I will tell you in full detail what is liability ,

Meaning of Assets in tally Accounting when we do the accounting of any company or firm, we hear the name of assets. So what are these assets and how many types are they? Many people know what assets are, but

Today I will tell you how to create a company in tally, friends, it often happens that students learn tally, but when they form a company, they make some small mistakes, due to which the company is not formed properly.

Friends, if you want to become an accountant in Tally or want to know about it, then first you should know what is the full form of Tally. The full form of tally is transaction allowed in a liner yards.

Meaning of Sundry debtor and creditors What are a sundry debtor and sundry creditor? When a businessman starts a business, the businessman has to purchase many types of goods and services in the business. When the business of the businessman

When we are doing some work in our system then we have to do a lot of editing in our paragraph, which has 2 ways, either you go to that function and do that editing or your paragraph by using

What are the expenses? What is an expense, is such an expense of expenditure that a person or company spends to earn more profit. When any person starts a business, first he has to invest capital in the business. Even

What are the job of an accountant in Office Hi friends, Do you know that what is the work of an accountant in the office, many students do not know that if they do the work of an accountant, then

What is scope in Accounting filed Hi Friends, you must have read in the title that whether there is scope in the accounting field or not, often people think that how much money an accountant would have earned. Many people

Friends, Do you also want to become an accountant, and if you are wondering where should I start so that I can become a good accountant. Friends, do not worry, today I will tell you how you can become an

Meaning of Golden rules of accounting What is 3 golden rules of accounting? And how to apply the golden rules in accounting. There are 3 rules in accounting, which help the accountant to book the accounts of any organization or

Hi friends, you already know that nowadays everything has become digital, and how much competition has increased, now the interest of the students studying in this way is increasing more in the field of computer and technology, everyone is in