Why Cloud Accounting is better than traditional accounting?

Cloud accounting is widely accepted by small businesses. Cloud Accounting is termed as online accounting and manual accounting called as traditional accounting. Why we need cloud accounting? The best answer would be to save time, money and to reduce accounting errors. Also cloud accounting is the best way to do accounting as you can save & edit all your data at anytime and anywhere as data will be save on server. These are some features which attract small businesses to use accounting software.

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Step-by-step guide on GST Registration

GST marked as the biggest tax reforms in India since 1947. It’s a unified tax implemented by current BJP Government with an aim to erase all state or central government indirect taxes. GST subsumes 11 Indirect taxes that were levied on the sale of goods and services by central or state Government. GST made indirect taxation process simpler for small and medium scale enterprises. It will also boost economic growth in a long run. New small businesses will be benefited from this new tax law as they have to pay less tax under composition scheme (SMEs with Rs.20 – Rs.50Lakh turnover).

As we are saying that GST made taxation easier. So, let’s have a look at its registration process. In this article we will cover all details regarding GST registration with below-mentioned points:

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Revised GST – Why it’s a best Diwali gift for traders?

Since its implementation on 1st July, 2017 GST has been always in the news due to its high tax rates & bit complicated tax slabs also Govt faces lots of criticism for it.

Recently RBI forecast GDP growth rate at 7.3% (2017-18), which is lower than last year’s GDP growth rate. To main economic stability and for a higher GDP growth Government decided to revise tax rates.

On 6th October Finance Minister Arun Jaitley announced new tax rates after a long & fruitful discussion with GST council members.
The GST council slashed rates on 27 items and 12 services.

Here are the details of revised tax rates on goods:

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GST Council trims tax rates to ease the filing process

GST Rate revised

Since its implementation on 1st July, 2017 GST has been always in the news due to its high tax rates & bit complicated tax slabs also Govt faces lots of criticism for it.

Recently RBI forecast GDP growth rate at 7.3% (2017-18), which is lower than last year’s GDP growth rate. To main economic stability and for a higher GDP growth Government decided to revise tax rates.

On Friday Finance Minister Arun Jaitley announced new tax rates after a long & fruitful discussion with GST council members.

Continue reading “GST Council trims tax rates to ease the filing process”

Saved search and complex budgeting : new feature

So last week we introduced a cool new feature called saved searches and we introduced a budgeting of such. With this tool you can save the search that you frequently do and a bit frustrated to filter the Cash summery every time.

Screenshot from 2015-11-21 12:42:15

As shown in the picture. Once you searched something in the cash summery, click on the star icon to save that search. You can keep the dates boundary for your search or keep it open for adjusting to any date.

Plus you can mention the budgets you want to create. You can do budgeting for either income or expense for now.

This kind of budgeting would help you in budgeting expenses for a particular project or for a particular  employee or activity that you tagged.

Screenshot from 2015-11-21 12:43:05

We’ll soon publish a video explaining what more and effective you can do with this tool. Till then ponder over your own ideas and create fabulous saved searches and budgets for them. And do let us know how it helped you.

Try it. See ya.

Growth can kill your business: Don’t plan your organisational growth before reading this

Companies with high employee retention issues are hard to succeed. As we are digging deeper into analytics we are becoming closer to have good maths on these points.
 
How much of new employees your existing organisation can handle and what’ll be it’s average and worst financial conditions.
 
We advice companies with high employee cost to revenue ratio, to keep an close eye on that ratio. If at any point that ratio is exceeding 0.4 points in any directions, your organisation will have trouble handling it.
 
So we’ld advice, have a process in place. And a good training program for new employees at the services that is giving you higher sales volume and higher profit. And keep an close eye on it. And keep ramping up sales here. But understand that ratio.
 
Grow up team in new services slowly. And so the sales.
 
Organisational turbulence is one metrics that takes most companies go down. But it’s hard to see early on. Often the problem arises after 5-6 months. And make it difficult to handle, even if you are highly profitable.
 
Growth kills more businesses at faster rate, and stability kills businesses at a slower rate. So keep growing, but understand stability keeps you liquid.
 
So before you keep growth on trajectory, ensure fund of at least 3 times that of CIH needed, hence a profit index of 200-300%.
 
If you are planning speeder growth and you are just 100% in profit index. Takes external investment of another 2times of CIH needed, suggested in Periodic Profitability Graph, within one month of beginning the growth implementation. And if in any moment during high growth, your profit index reaches 120% or below, ramp sales up and you need to keep that number there to not fall out pray of downward spiral.
 
For high growth, I mean to say at par or above 20% of your present organization head count.
 
Hope that helps.