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BRS in Accounting is essential for identifying all the errors in your financial system that can affect your financial position and tax. It identifies and resolves discrepancies, such as unrecorded transactions, timing differences, or errors, ensuring the cash balance is accurate. The process involves matching the company’s cash account balance with the bank’s records, accounting […]
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Have you ever bought something and wondered who really pays the tax? That question helps us understand why GST is called an indirect tax. Simply put, GST (Goods and Services Tax) is levied on goods and services, but the burden of the tax is passed on from businesses to the final consumer. That shifting of […]
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Do you want to know about the chart of Accounts in Tally Prime? If yes, then this article can be of great help for you. All these accounts are categorized under a separate category on the basis of their nature and purpose. Tally Prime comprises 28 predefined groups where there are 15 primary groups and […]
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Purchase entry in Tally Prime is an important concept. This article can prove to be a great solution to you if you have confusion regarding the process to handle the purchase entry in Tally Prime. There are some easy processes to handle all the purchase entries in Tally Prime. Purchase entry in Tally Prime is […]
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Year end activities in SAP FICO is quite a complex process. These activities involve closing the fiscal year, reconciling accounts, and preparing financial statements. Now, it sounds quite complex and while you implement the process it becomes more complex. So you need to break down your work step by step. Key tasks include finalizing general […]
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Managing the entire company’s financial data, and accounting data is not an easy task. Instead it’s a big challenge for the accountants. In such a scenario, application of MIS in Tally Prime can prove to be a blessing for you. However, all the businesses that make use of Tally for them make the task easier. […]
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