Using Xero for Gems and Jewels business
Xero for Gems and Jewels business In Gems and Jewels business, keeping a proper financial record in bookkeeping is very important. Jewels business is one such area where the buying and selling price depends upon certain factors. Some factors are like the amount of gold, gems and other precious items. Therefore, going for automated accounting […]
Accounting for real estate acquisition
In this current global economic world, International Financial Reporting Standards (IFRS) has been an important topic. Looking at the worldwide level, implementing IFRS seems to be a logical move. Many of the institutions and nations have welcomed this implementation; Still, some professionals find it sceptical to accept it completely. Recently, this topic is being discussed on […]
In-house vs Outsourced Accounting
In-house vs Outsourced Accounting – In their earliest days, many small business owners take care of their accounts themselves. For some, this can be a helpful way to familiarize themselves with the inner workings of their business. It also helps them to know the financial process. For many, it is a way to keep costs […]
What is Depreciation and its Accounting
Everything about Depreciation Every asset a business owns is liable to lose its original value over the years. Thus, we can say that depreciation is the ‘loss of value’. For instance, you purchase any machinery for the production of goods. The business will use that machinery for years and then, it will eventually sell it […]
Check out how Amanda reduced her Bookkeeping cost?
Bookkeeping Cost Reduction Case Study Read this bookkeeping cost reduction case study of Amanda and try to apply it in your business. Amanda is a business owner in California, USA. She owns a software company that specializes in providing cloud services. The business is going good, revenues are rising at over 35% a year, but […]
Pros and Cons of Virtual Business [Paperless Business]
When an organization runs a business, it probably looks for every streamline operation, saves time and cuts costs. In such a case, the paperless business helps towards it. Let us have a brief look at this. Pros of Paperless: Accessibility at the fingertips In a paperless business organization, it is not a big deal to […]
Getting Startup Capital
Asking family for startup capital Asking funds from family members is easy yet tricky. Easy as if you have a family that is rich and they trust you. Any family member will invest in your business. Tricky in the aspect that there are high chances that your business will fail and you can lose all your […]
Why an Employee Handbook is Necessary
Introduction to Organization The employee handbook contains a detailed introduction to the organization. This may include the history of the organization, how it came into being, what is its purpose, and how it is being operated. It may also contain some disclaimers such as the employee handbook does not create a relationship between an employer […]
Understanding Debit and Credit in Bookkeeping
For any of the businesses, profit is just like oxygen for a living being, without which it is very difficult to live. So, every business tries to achieve the required profit for its organization. But to achieve profit, it is essential to understand the financials of the business. Financial analysis helps to understand the cost […]
CHARGING OF GST ON SALES IN SINGAPORE
What are the charges of GST on sale in Singapore? In Singapore, the rules regarding taxation and GST are laid by the Inland Revenue Authority of Singapore. Introducing GST came with many complications for taxpayers of the countries. But Singapore has a very well laid a set of rulers and regulations to deal with these […]