Tally Solutions   Jan-24-2020
Accounting Fundamentals
Cash Accounting – Definition, Terms, Statements and Example

The cash basis of accounting recognizes transactions and events only when cash (including cash equivalents) is received or paid by the entity

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Tally Solutions   Jan-16-2020
Accounting Fundamentals
Credit Memo – Definition, Format, Scenarios and Example

A credit memo is a commercial document issued by a supplier to the customer notifying the reduction of the amount that a customer owes to the seller.

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Yarab A   Jan-15-2020
e-Invoice
What is Invoice Reference Number (IRN) in GST? Format and How to Generate IRN?

IRN known as “Invoice Reference Number” is a unique invoice number generated by the Invoice Register Portal (IRP) on uploading the invoice electronically.

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Yarab A   Jan-15-2020
e-Invoice
What is e-Invoice in GST?

e-Invoice known as ‘Electronic invoicing’ is a system in which all B2B invoices are electronically uploaded and authenticated by the designated portal.

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Tally Solutions   Jan-15-2020
Cost Management
What is Capital Budgeting? Process, Calculations and Example

Capital budgeting is a process through which different projects are evaluated in terms of cost and benefits. It is the firm’s formal process for acquisition and investment of capital.

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Tally Solutions   Jan-15-2020
Accounting Fundamentals
Depreciation – Definition, Types and Examples

Depreciation can be defined as a reduction in the value or the effective economic life of an asset owing to several reasons

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Tally Solutions   Jan-15-2020
Accounting Fundamentals
What is the Bill of Sale? Format and examples

A bill of sale is a legal document that serves as proof of sale and purchase transaction. It is a document that records the transfer of ownership from one person to another

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Tally Solutions   Jan-15-2020
Cost Management
Capital Expenditure (CAPEX) – Definition, Signifiance and Tips

Capital Expenditures are the category of assets that generally indicate the most important use of a company's resources.

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Yarab A   Jan-15-2020
Inventory Management
Inventory Valuation – Definition, Methods, Examples and Calculations

Inventory valuation is a process to determine the cost associated with an entity's inventory at the end of a reporting period

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Tally Solutions   Jan-15-2020
Cost Management
What are Administrative Expenses? How do Businesses Manage it?

As the name implies, administrative expenses are the regular expenses you incur as a part of regular business activities.

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Tally Solutions   Jan-15-2020
Accounting Fundamentals
What is Accumulated Depreciation? Calculations and Examples

Accumulated depreciation is the total amount a company depreciates its assets, while depreciation expense is the amount a company's assets are depreciated for a single period

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