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Managing accounts payable (AP) is a critical function in any organization, ensuring that the company meets its financial obligations timely. SAP, a leading enterprise resource planning (ERP) system, offers a comprehensive module for handling the accounts payable process in SAP. Thus, integrating various functions to streamline operations, reduce errors, and improve overall financial management. This […]
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Split valuation in SAP is a crucial functionality for companies that need to differentiate between various types of stock within a single material. This feature is particularly beneficial for businesses dealing with materials that can have different valuations due to factors like origin, quality, and status. In this blog, we will explore the concept of […]
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Starting a business is an exhilarating journey, filled with the promise of innovation, growth, and success. One of the critical aspects of managing a business efficiently is maintaining accurate financial records. Tally Prime, a leading accounting software, offers a robust platform for handling all financial and business management tasks. Creating a company in Tally Prime […]
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In the realm of financial management, one of the foundational documents that every business owner, investor, and stakeholder should understand is the balance sheet. Often regarded as a snapshot of a company’s financial position at a specific point in time, the balance sheet provides crucial insights into the health and viability of a business. In […]
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In the intricate world of financial management, a well-structured chart of accounts (COA) is crucial for maintaining clarity and precision. The COA serves as the backbone of an organization’s accounting system, providing a systematic way to categorize and record financial transactions. This blog will delve into the essentials of a chart of accounts, its structure, […]
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The Goods and Services Tax (GST) has completely revolutionized India’s tax structure. Many tax policies are framed under this tax regime to bring transparency and reduce complexity. One such scheme is the GST Composition Scheme – a simplified compliance mechanism to reduce the burden on smaller players. This blog will explain the in-depth concept of […]
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