Payment & Receipt

Receipts and proof of purchase. A receipt or proof of purchase is a document that you provide to your customers as record of their purchase of your goods or services. A receipt can be in the form of a tax invoice, or a printed cash register or hand written receipt. Yes and no. You usually only need proof of purchase when goods are faulty; so abank statement or other proof can take the place of a receipt. If it’s not faulty, you have no rights, therefore if store policy says a receipt’s needed, it’s needed.

Posted on Categories Realkeeper Accounting SoftwareLeave a comment on Payment & Receipt

E-way

EWay Bill is the short form of Electronic Way Bill. … When eWay Bill is generated, a unique eWay Bill Number (EBN) is made available to the supplier, recipient and the transporter. The eWay Bill replaces the Way Bill, which was a physical document and existed during the VAT regime for the movement of goods. It was used to monitor movement of goods to/ from a state in order to check tax evasion. A way bill is typically required to accompany goods on their movement from consignor to consignee. … It is generated electronically on the eway billportal. Since imports and exports have been considered as inter-state supplies under the GST act, the eway bill is required to be issued for these transactions as well. For imports, the eway bill will be generated by the importer. The exporter is liable to generate the eway bill for export supplies. Cases When Eway Bill is Not RequiredEway Bill or Electronic Way Bill is a document or bill that can be generated electronically on Eway Bill portal by a consignor for movement of his goods from one place to another place; it can be within the state or outside. The Eway bill, an electronic system, has to be generated by traders when they have to move their goods within the state or outside. … The intra-state transport Eway bill limit will be revised (from the current Rs 50,000) to Rs 1 lakh,” he told the gathering. EWay Bill is the short form of Electronic Way Bill. It is a unique document/bill, which is electronically generated for the specific consignment/movement of goods from one place to another, either inter-state or intra-state and of value more than INR 50,000, required under the current GST regime

inventory Management Software

Inventory management software is a software system for tracking inventorylevels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents.
4 types of inventory Generally, inventory types can be grouped into four classifications: raw material, work-in-process, finished goods, and MRO good

inventory management systems

Perpetual Inventory System. …
Periodic Inventory System. …
Barcode Inventory Systems. …
Radio Frequency Identification (RFID) Inventory Systems.

inventory value. Determination of the cost of unsold inventory at the end of an accounting period. Inventory is valued usually at cost or at the market value, whichever is lower. The four common valuation methods are first-in, first-out (FIFO), last-in, first-out (LIFO), average cost (AVCO), and specific identification …

Computer Literacy In Delhi In Realkeeper Academy

Computer literacy in India is said to be the minimal and basic knowledge of computers that includes elementary skills of programming. Anyone who is comfortable with basic computer programs and other ground level computer functions can be called a computer literate.

The phrase ‘Computer literacy’ holds a completely new definition in the developing third world countries. What is appalling is that in these nations less than half the population is acquainted with computers. While in the first world countries, the economy is developing faster because of the immense progress in the world of science, technology and information practice, the developing nations are yet to be aware of the same. Recent surveys have revealed shocking results that show that computer literacy in India is less than 7%, like many other nations. Many claim to never having heard of or seen a computer, let alone be comfortable with computer programming.

Computer literacy, experts have argued, is not only important but necessary. It should be given as much importance as providing food, shelter and clothing, because computer literacy is the foundation for a progressive and developing nation. The most revolutionary step taken up in this direction has been the Hole In The Wall Experiment by Prof. S.Mitra, who has proved through his experiments that the unprivileged lot can acquire computer literacy without any strict and proper guidance if they are provided with the basic learning tools. Computer literacy is the only way for India to walk towards a global change. It is promising and can completely change the picture of rural India.

Computer Literacy in India with the help of initiatives like the Hole In The Wall Experiment can create positive outcomes.

If a chain of computers are set up in the rural areas, people will be able to access and hence gain computer knowledge. It can help increase computer literacy as well as help the villagers aspire for better jobs and employment facilities.
For children and adults alike, computer literacy can help them improve and hone their skills in mathematics, basic calculation and also English.
Many children cannot follow what is being taught to them in the village schools. Some have problems understanding English, the medium of language they are taught in. This has led to a huge number of cases of dropouts. Computer literacy, as surveys have pointed out, have reduced dropout rates at primary education level.
Computer education has been proven to spark the interest towards learning in children of 6 to 15 years of age. This has led to better attendance in schools and education centers.
Most of the villages still do not let their girls learn. Girls are supposed to stay at home and help their mothers in the kitchen or work in the fields. These kinds of initiatives that pay attention to both genders alike are the only way for these girls to attain education.
Basic education and counselling programs also work towards improving the mindset of the children and can prevent them from getting involved in petty crimes.
Science and technology needs to be thought of as a tool for reformation in the developing nations like India. Computer literacy is India’s only way make a place for itself in the times of mechanization and globalization.

Credits:
realkeeper.in

Sales Billing Management

Eliminate bottlenecks and streamline your process from sales quotes to approved orders, successful orders to order fulfillment, and timely invoicing to payment.
enterprise resource planning systems
Create Cash Sales
Create cash sales receipts in multiple currencies to give to your customers as a payment record. Also compatible with POS printers.

enterprise resource planning
Create Sales Order
Easily create sales orders for your customer, including payment terms and complete sales information, as in customer quotation and purchase orders.

create Invoice
Generate automated sales invoices including calculating sales tax, finance charges and discounts based on payment terms-either on a one-time or on a recurring basis.

create credit note
Generate a “Credit Note” for customers to use against sales invoices, if you need to refund your customers on a credit basis in order to get a refund in purchases.

enterprise resource planning
Sales and Billing Management incorporates the records of all products and services supplied to customers and maintains the history of all past transactions associated with them. To make things trouble free, Deskera Sales & Billing Management organizes these by grouping various products in a single invoice for customers.

Deskera Sales & Billing Management/Financials comprehensively covers the entire Sales/Billing management cycle by allowing you to place a sales order, generate an invoice, and receive a payment. The linking of an invoice and a sales order gives you an insight into the sales process. It also provides a refund facility for customers on a credit basis through the ‘Credit Note’ function.
 Deskera ERP System can seamlessly handle ‘blanket sales’ orders for products that are purchased in installments and delivered over time.

Invoice Software Customization

Working in a big industry is a cumbersome task itself. The hierarchies you follow differ, so does the processes. Two enterprises might be working on similar product lines, but the way they carry out their business activities may vary.

In-house functioning of an enterprise is unique to its environment and asking for solutions that cater your unique problems is not a crime. Shying away or adjusting to solutions lead to degrading results.

You must be wondering these are our words. But to your very surprise, it is not us who are saying this but one of our reputed clients from India explained during our one on one sessions.

Well, as we have said already, your wish is our command. Our one-on-one sessions were quite extensive and helped us learn our client’s problems elaborately.

Invoices that could be used as gate pass within the three branch factories.
An invoice template that was as short as a postcard.
Printing bulk invoices at the same time.
Creating invoices in more than one languages.
Need for dynamic numbers for invoices.
Need for dynamic reports for analysis.

With all the needs in our list, we went forward in our labs of invoicing software to creating a perfect self-hosted solution of online invoice software. With days of mapping the perfect solutions, we finally started on our journey of codings and creating the live invoice software.

Develop a Brand Strategy for Your Site

Anyone can build a website and promote it. How does your website fit into your company’s media brand strategy? If you don’t know, you’ll find it more difficult to have a successful website and your site could actually hurt you.

Your website is only one factor in building your media brand on the Internet but you have to clearly identify your site’s role in the big picture. Do you want your site to serve as an extension of your traditional media outlet, like an online catalog as backup for your in-person sales efforts, to stand on its own as a source of revenue or perhaps just another way to get your company’s name out there regardless of the income potential?

GST Software

Goods and service tax or GST will have a tax to reduce all taxes. It will bring in “one nation one tax” rule.

Although there will be some initial transition challenges, GST will bring very clarity in many areas of business. One of the areas is accounting and bookkeeping. Read on to learn about accounting entries under the GST.

Current Scenario

There will be separate accounts for excise, VAT, CST and service tax. Here is a list of some of the accounts that currently maintain any business (except for accounts like Purchase, Sale, Stock) –

Excise dues payable to producers (C)
Cenvat Credit A / C (for manufacturers)
Output VAT A / C
Input VAT a / c
Input service tax A / C
Output Service Tax A / C
For example, a merchant Mr. X should maintain minimum basic accounts –

Output VAT A / C
Input VAT a / c
CST A / C (For Inter-State Sale and Purchase)
Service tax a / c [He will not be able to claim any service tax input credit because he is a trader with output VAT. Service tax can not be set against VAT / CST]
GST Regime
Under GST all these taxes (excise duties, VAT, service tax) will be credited to one account.
The same trader X will then have to maintain the following a / cs (in addition to accounts such as purchase, sale, stock) –

Input CGST A / C
Output CGST A / C
Input SGST A / C
Output SGST A / C
Input IGST A / C
Output IGST A / C
Electronic Cash Ledger (GST should be maintained on government GST portal to pay)
For a list of accounts to maintain, please read here.

While the number of accounts is more clearly, once you go through accounting, you will find that this record is very easy to keep. One of the biggest advantages of X will be that it can set its input tax on sale with its output tax.

Manufacturing account

Accounting information systems typically comprise five elements: inputs, processes, outputs, storage and internal controls. The elements work together to provide reliable information effectively and efficiently. An accounting information system (AIS) is a structure that a business uses to collect, store, manage, process, retrieve and report its financial data so that it can be used by accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors, regulators and tax agencies.
An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting financial reports can be used internally by management or externally by other interested parties including investors, creditors and tax authorities.
There are five fundamental principles behind every information system. The first is the control principle. Simply stated, all accounting information systems must have proper internal controls. Internal controls are procedures and practices controlling and monitoring business activities.
Accounting information systems typically include the general journal and four types of special journals. These are the sales, cash receipts, cash disbursements, and purchases journals. Information systems also commonly include accounts receivable and accounts payable subsidiary ledgers.
The main advantages of an accounting information system are the increased speed of processing the numbers, efficient organization, and classification and safety of inputted data. This contrasts the manual evaluation of information, which involves writing out the data by hand and doing time consuming calculations.
The purpose of an accounting information system (AIS) is to collect, store, and process financial and accounting data and produce informational reports that managers or other interested parties can use to make business decisions.
The general ledger functions as a collection of all balance sheet, income and expense accounts used to keep a business’s accounting records. At the end of an accounting period, all journal entries are summarized and transferred to the general ledger accounts. This procedure is called “posting.”

Single Page Application

A single-page application (SPA) is a website design approach where each new page’s content is served not from loading new HTML pages but generated dynamically through JavaScript’s ability to manipulate the DOM elements on the existing page itself.

In a more traditional web page architecture, an index.html page might link to other HTML pages on the server that the browser will download and display from scratch.

An SPA approach allows the user to continue consuming and interacting with the page while new elements are being updated or fetched, and can result in much faster interactions and content reloading.

In addition, the HTML5 History API allows us to alter the page’s URL without reloading the page, allowing us to create separate URLs for different views.

Once inside of the SPA, the application is able to dynamically fetch content from the server through AJAX requests or websockets.

This allows the browser to keep the current page open while making requests to the server in the background to fetch additional content or new “pages” altogether.

If you’ve ever begun a search query and had intermediate results appear below the input form as you were typing, then you’ve witnessed dynamic queries taking place in the background that updated those DOM elements.

In fact, the server queries can fetch any kind of data, often taking the form of JSON payloads, strings, or even HTML elements that are already prepared for rendering.