Online portals and software have become the spectacle vogue amongst every working sector around the globe. All big corporate giants have embraced this revolutionary trend-setting phenomenon. In the industry, the scope of work has risen as the productivity of work has heightened too. It's quite restless & unsubtle to keep track of all the details of all work.
When you even think about starting your own business, your mind must be hounded by many thoughts & questions like exactly from where should I start my business? How much capital will I need to get go? Will customers buy my product/service? Is my business idea one in a million & the list of such unsettling questions goes on. But after hard efforts & complying legal formalities, somehow, you incept your business.
To simplify taxpayer's process of filing GST compliance, GST council has passed the new GST monthly return regulations in the 28th GST Council meeting. These also made available to the public domain, in order to obtain feedback from businesses, CAs, and industry bodies.GST council has also announced an immense change in the new GST return which is, only a person or business whose turnover is more than Rs. 5 Crores have to file the simplified monthly return.It's kind of a relief for SMEs whose turnover is below 5 Crores since they don't have to file the simplified monthly return. This move will certainly encourage many small businesses or the ones who wish to establish small but their own business.
Remember, back in the 90s or early 2000, mediums of communicating weren't much prodigy & proactive. The avail electronic gadgets & mediums were so unsuitable that people had a hard time using them. Those gadgets were simply pointless. Landline telephones were one of the important channels of communication.
Bookkeeping & Accountancy is the significant constituent of any business or any notable monetary transaction for that matter. The technical definition of bookkeeping is to record & maintain every financial transaction of any business. Whereas, accounting is a precise method of identifying, documenting, mapping, categorizing, verifying, summarizing, evaluating and communicating financial information. Every age of business has witnessed and experienced the voyage of Bookkeeping & Accountancy being emerged & evolved in its prime time.
Eracal Software, a Pune-based IT development startup firm, has launched Accumate; a smart, pathbreaking accounting solution. Putting simplicity, speed and versatility in the hands of users, Accumate is set to fundamentally change the way people think about and do accounting.