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Adjusting Entries in Journal

Posted on: June 6, 2022 | Last modified on: January 13, 2023

What is an adjusting entry? Why make adjusting entries? 5 Types of adjusting journal entries with examples Accounting at its simplest is the recording of the company’s or individual's financial transactions. But when it is time to generate the financial reports for a time period, things may become more complicated. Since business processes keep flowing and do not stop at the juncture of accounting period endings and beginnings, transactions that may span two or more accounting periods need special handling. The accrual accounting principle specifies that all the revenues and related expenses must be accounted for within the same time…

Import Data from Excel to TallyPrime

Posted on: December 13, 2023 | Last modified on: January 2, 2024

Excel spreadsheets are a common tool used in businesses for managing a wide range of data, like customer info, finances, and inventory. They're the go-to format for sharing transaction details in the business world. Even if businesses use software for most tasks, they still rely on Excel for some data. For example, when a business gets order or invoice info from an e-commerce platform, it's often in Excel format.  The big question is: what do they do with this data in Excel? The answer is quite simple. They need to manually enter this data into their main business software. Imagine…

Get to Know the Forms of Business Entities in Indonesia

Posted on: May 6, 2021 | Last modified on: April 22, 2022

The Indonesian government is quite aware of the importance of foreign investments for economical growth and sustainability. To promote more investments in the country, the government is taking initiatives to minimise bureaucracy and deregulation, thus creating a wider range of investment activities for foreign investors. When setting up a new company in a foreign country, it is important that you know the different types of entities available, their characteristics and requirements. Let’s look at the forms of business entities in Indonesia that a business owner can start: Limited liability company (Perseroan Terbatas) Foreign-owned Limited Liability (Penanaman Modal Asing) Nominee Limited…

5 Things You Can Do Using Save View Option in TallyPrime

Posted on: July 14, 2021 | Last modified on: January 21, 2025

Just like each business is unique in a way it functions and operates, viewing reports too has a similar need. The information one would want to view in a report may differ from one user to another, even though the report is the same. Different users would like to view it differently in a way that best suits their needs. In simple words, sometimes, one view of the same report doesn’t help all. TallyPrime’s new capability ‘Save View’ allows you to personalize the reports the way you want and the way it best works for you. With the new capability…

Impact Of Automation on Accounting & Business Software Industry

Posted on: April 27, 2022 | Last modified on: August 12, 2025

Why automate accounting? How automation is being used today The future of automation in accounting Conclusion: How to start automating Accountants have a reputation for being people with their noses to the grindstone all the time for good reason. Many accounting tasks are repetitive and time-consuming to record. Automating these repetitive tasks would greatly free up the time and resources of accountants to focus on other aspects of their jobs. Many companies are shifting from manual accounting systems to accounting management software. While they may not fully automate all accounting tasks, they minimize time spent making multiple entries and number…

7 Questions That You Need to Ask for Selecting the Right Software for Your Business

Posted on: July 2, 2020 | Last modified on: November 3, 2023

Choosing the right business software to take care of your organisational needs could be quite daunting. When a business owner starts a company, he/she already has certain plans in place to help reach the desired target. Selecting from a list of business software available in the market is one of the key decisions an entrepreneur must take to ensure optimum business efficiency. The best business management software solutions return a long-term benefit and accelerate your company’s growth. There are several standard questions to be asked when selecting any software product for your organization. In this article, we will help you…

Integrated Business Software Vs Separate Software Tool for Each Module

Posted on: July 21, 2020 | Last modified on: February 8, 2023

As fast-growing companies achieve greater market penetration, gain more customers and their organization grows, they often run in to a wall where internal processes struggle to keep up with continued demand. The key challenge to supporting that growth is laying the groundwork to scale the business effectively and efficiently while maintaining customer service and support. When starting out, most companies solve problems in the quickest, cheapest ways possible, which over time, leads them toward one of the biggest pitfalls for growing organizations—using multiple standalone business applications for varying departmental functions in an ad hoc manner. As the business and its…

TallyPrime’s Simplified Security and User Management System

Posted on: November 6, 2020 | Last modified on: February 8, 2023

Business data when fetched into the system, forever runs a risk of getting corrupted or leaked. Data security has been a major concern to all business owners, and that is one of the main reasons why several entrepreneurs are hesitating to automate various crucial business processes. The confidentiality of sensitive information is major criteria while choosing a business management software. To secure your business data, TallyPrime offers a variety of security features. TallyPrime comes with multiple levels of user and feature-based security levels to ensure that access to your data is restricted based on your preferences. An additional layer of…

Financial Statement: Definition and Uses

Posted on: June 1, 2022 | Last modified on: November 8, 2022

Financial statement: definition and uses What are financial statements? Financial statement components Uses of financial statements Financial statement users Financial statement limitations Differences and similarities between financial statements and financial reports Easy and accurate financial statements  One of the most important annual processes for an accountant is the release of a company’s financial statements. The company's financial statements are so important because they summarize the financial activities and position of a company for a time period, usually the financial year. A potential investor would assess a company not merely by its reputation but also by its financial statements. For a…

Debt-to-Equity (D/E) Ratio Definition with Formula

Posted on: June 10, 2022 | Last modified on: August 12, 2025

What is the debt-to-equity ratio? Debt-to-equity ratio formula and calculation What does the debt-to-equity ratio tell you? What is a good debt-to-equity ratio? Modifications to the debt-to-equity ratio Limitations of the debt-to-equity ratio Examples of the debt-to-equity ratio What does a debt-to-equity ratio of 1.5 indicate? What does it mean for debt-to-equity to be negative? What industries have high debt-to-equity ratios? There are many methods used to assess and mathematically analyze the financial health of a company. The debt to equity ratio (D/E ratio) is one of the metrics that is used to determine if the company has a normal…

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