Why Online software to manage your Accounting

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.

Especially when it comes to accounting, one has to be very precise & wide-awake to align all accounting work smoothly. But after all we are humans, we tend to make mistakes. Although a single accounting error can put you in a vicious hazard.

However, mistakes can be averted; the quintessential work still can be retained. How? With the elite assistance of online accounting software.

Let's see how.

Online accounting software doesn't stand for accounting errors since it has the ultimate accuracy at its disposal.

The plethora of work is uneasy to maintain, and just a bunch of papers can't be enough to maintain it. Plus it's not ideal to waste papers. In online accounting software, you have an ample amount of virtual space where you can store as many data as you want.

Sometimes, we are in haste. In the urgency, we inadvertently make a mistake. To revert back that mistake is pretty awful to work. In online accounting software, you can revert mistakes with a greatest of ease, without wasting plenty of time.

Online accounting software offers a single point convenience method. That means you can handle/maintain all of your accounting work from anywhere, anytime, from your laptop or an android cellphone. So, even if you're away from your workplace, yet you'll be connected with your work(accounting), closely.

How preserving history is significant & essential, we all know it when we look back at "our history." Likewise, to maintain the history of your accounting is as equal as preserving your immense legacy. In the world of Online Accounting, you can easily record all of your important accounting documents & transactions that help you build & enhance your legacy.

The online accounting software really upkeep the performance of your organization & better your 'Better Tomorrow.' It's good to have the online accounting software by your side, to enrich your accounting work & thrive your business towards the crest of success.

BRAND- The Face of Your Business

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

But starting your business is just a leap in the competitive market. There are many strong competitors of the same category as you are and they have already firmed up like glue, some of them might be well renowned. They've already got a huge customer base, they're doing great in their business.

But it's their story, what about yours? Well, let's create your story of success.

When you start your own business, be that of anything, you must think about the branding of your business and must take steps to transform your business from a small company into a renowned brand. It all starts with a product that you're offering. First of all your product has to be amazingly promising & once you set the bar of your product, you'll have to market your product.

Let's see a little bit more about branding & how it positively impact your business.

-When people go shopping, they don't just buy products, they buy their aspirations, dreams, desire, etc. And all these come from a lucid & smart advertising of your product/service.

-Even if your product is promising, it needs to reach to the consumers. When you brand your product suitably, it will definitely knock the consumers' heart, which led them to buy your product.

-Branding isn't just about making your business elite & famous. It's a game of human psychology. A good branding strategy is all about a shrewd study of people' psyche. What they like, what they don't, their ambitions, desires all integrates into a brand & marketing strategy. Once you decipher a consumer's mind, you can leverage it into your branding/marketing strategy.

-As we know that people see their aspirations & likes in the products they buy, any branding strategy must involve a facet that positively hounds their mind. Hence you see many big companies hire big & famous celebrities to endorse their product through the different mediums of advertisement. Now, this is a smart way of alluring people towards your product since India is a country where you can see many people who are the extreme devotee of such celebrities.

-Brand means a distinct image, a unique sound and a reliable identity of you or your product. It takes a little more time to build a brand, but if you upkeep all of the above things, soon you'll become a brand of people' choice. Besides, nowadays, with the ultimate assistance of Digital Marketing & other alike mediums, you can build a brand in less time possible.

By all means, a strong Brand is a true face of your business. You better adorn it & leave the world in awestruck.

A glimpse at a revised GST monthly return regulations

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.

Let's take a look at the crucial key features of the new monthly GST returns.

1) The application facet of a new monthly GST return-

Any business, taxpayers whose turnover amount is transcending or up to the amount of Rs. 5 Crore can file the monthly return whereas, they don't require to file a quarterly return.

2) The due date of new GST monthly returns-

You can file the new GST monthly returns of each month, on the 20th of the following month.

3) Why GST monthly return is much precise way than the GST quarterly return-

When any taxpayer files a GST return monthly, he/she has got the great power to report all the pending & missing invoice easily. Whereas, it would be impossible for him/her to report pending/missing invoices if he/she were to file GST return quarterly. The feature of missing invoices gives recipients the facility to report invoices which suppliers/vendors have missed while uploading them.

4) The GST return will be based on your profit-

Many taxpayers have limited resources of income hence the profit they gain is limited. Acknowledging this scenario, GST council made provision that, the GST return amount precisely depends on the profit of taxpayers. To comprehend the profit of taxpayers, they have to fill the questionnaire in which they are requested to enter the details such as exports, supplies, SEZ, etc.

5) Provision of filing Amendment Return-

Now taxpayers can file amendment return in order to rectify the wrong entry made while filing the return. Taxpayers can file two amendment return for each tax period.

6) Facility of filing Nil GST monthly return via SMS-

A person who never had a purchase, or output tax liability, or input tax credit in any fiscal quarter, now can easily file one nil return for that particular quarter by simply sending an SMS.

If you look at these features objectively, the new GST monthly return is just a piece of cake for taxpayers since all of the above crucial facilities easily made available to them.

The World is in Your Palm!

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. Not everyone had the landlines, and the very few who had it were supposed to be the filthy rich. Other mediums of communication such as Mobile Phone, Pager, Letter were the players of the lame game. These mediums had numerous limitations plus these services were much expensive as long as that era was concerns. Despite all this, people did use these mediums since there wasn't any alternative

But the time flown by so quickly, all these old-fashioned mediums had vanished, almost. Gradually, the technological evolution started to thrive. Many revolutionary innovations in the landscape of technology have yielded. The trivial era of technology immersed and the smart era of innovation had emerged.

Such is the finest innovation, 'Android Technology.' In the tail of 2000, Google unveiled the Android technology & since it has become the popular choice for many users. Android is a mobile operating system based on a revised version of the Linux kernel and other open source software. Primarily, Android designed & developed for touchscreen mobile devices such as smartphones and tablets. Furthermore Android sailed their ship towards the shore of the Television sector. But their core always was in the smartphones & tablets. Since the inception, Android continuously kept making betterment in itself.

Android technology replaced each possible telecommunication creation. Its smart & easy way of handling aligned with its elegant user interface, allure many users & customers. Soon almost the entire world had embraced Android. Android App is another crucial element & brainchild of Android technology. The mobile companies that had credence in Android came up with many innovative Android apps. Apps such as Paytm, WhatsApp, YouTube and many more such kind of apps made people's life glorious as well as convenient. It changed the definition of comfort & convenience, completely.

There was a time when people used to stand in a long queue to make transactions in a bank. The whole process was time consuming & frustrating. But with Banking Apps such as BHIM, PhonePe, it's a piece of cake to make any banking transaction. You can deposit, transfer money in one go. You can also view your bank statement on a single click, in no time. You can even take or apply for a loan using Android Apps. In the age of cable & dish TV, Android TV Apps bring your favorite TV shows, movies or even sports programs direct to your hand, compactly. Android TV apps made your entertainment life more entertaining.

You name it, and Android will aim it for you. With the ultimate feasibility, the entire world has got down in your palm.

Step into the cutting-edge epoch of Accounting legacy

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.

If you peep twenty-five to thirty years back, the businesses in the Indian market were limited to their territory & scope, except some large & renowned organizations of that time. But the number of these big corporate giants was also so small that you could count them on your fingertips. As the businesses & their scope was limited, there wasn't any thorn in their road to success. Everything was short & simple, even bookkeeping & accountancy too. But as the fashion & perspective of doing business had changed, everything was upside down. Businesses started to boom like they never boomed before. The corporate giants have become further gigantic & rich, as the massive amount of money had been procuring. At the same time, the plethora of money was increasing rapidly. In this chaos of money-fetching aura, maintaining the record of transactions has become more complex & difficult.

Fortunately, the cutting-edge technology was evolving in the parallel world of business. It swept away the orthodox method of accountancy and vanished the glitches of bookkeeping & accountancy. One of the brainchildren of prodigy technology is a software system. Many mid-scale, large, and even small businesses have espoused the software-enabled systems. These software systems helped them in handling & maintaining their accounting & financial data.

The accounting software gives businesses a new lease of life in this competitive era. Leveraging the accounting software, you'll have a big breathing room at your workstation.

The trifecta of Scope, Simplicity, and Security will reduce your valuable endeavors & elevate your productivity. It offers you the ultimate Power and Flexibility to maintain your company books. The systematically & user-friendly designed functionality of accounting software is like a piece of cake, even for a layman accountant.

Let's take a look at some of its key features:

-Ample amount of storage

-100% accuracy ratio

-A simple revert-back facility

-A single-point convenience

-Multifunctionality

This new trend-setting & cutting-edge creation proclaims a new perspective to the accounting legacy. Many have embraced it, so should you.

Story Behind ACCUMATE Origin

Accumate radically simplifies accounting; the new cloud-based solution offers speed, simplicity, reliability and data security like never before

Say ‘accounting’ and the mind conjures up images of a bored-looking accountant doing credit and debit entries, most probably on an old PC. Not anymore, if you go by the brand book of Accumate. 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.

Business houses using traditional accounting software have to put up with several limitations. The struggle begins right with installing the software on the PCs in the office. It also calls for specific hardware configuration – like memory and processing power. The next step is user training. After spending a lot of time, money and effort, the application is eventually set up and ready to use. However, new versions released down the line cost more money. In case of glitches, users have to download and install patches, which is another headache one could do without. Last but certainly not the least, since the functionality is limited to accounting, separate software from another vendor for taxation needs to be purchased and installed. Despite this, compatibility and integration issues could slow down the work and negatively impact overall efficiency.

The early days

Accumate is the so-called panacea for all these shortcomings. This new accounting solution from Eracal Software is the brainchild of Rohan & Kalpak, two dynamic entrepreneurs in the cloud and web technology space. Frustrated by the drawbacks posed by PC-based standalone accounting software, the duo began to think about a versatile solution that would free businessmen and corporate houses from the shackles of tedious, traditional accounting. Rohan and Kalpak leveraged their technology expertise whereas Rushabh, the accounting & financial genius, provided the crucial domain knowhow. Initial brainstorming sessions, conducted over endless cups of coffee, produced the blueprint for Accumate. The trio also received worthy advice and guidance from Kishoreji Bora, a seasoned entrepreneur enjoying over 40 years of experience in the world of business.

The Game changer:

As the proverbial saying goes, Accumate is turning the tables. Breaking through the barrier of complexity of routine accounting software, the solution is empowering users with a powerful new tool to manage company accounts.

Launched in November, 2017, Accumate is a cloud-based accounting solution that brings Simplicity, Reliability, Speed, Security and Transparency in accounting work. Hosted on Amazon’s turbo fast, ultra secure servers, Accumate ensures total data security and confidentiality. It is a GST-ready web application that bundles accounting, taxation, banking, reporting and compliance in a single browser. Being cloud-enabled, it offers plug-n-play functionality. Just log in and get going; doesn’t matter where you are. Also, it doesn’t matter what device you use; Accumate runs seamlessly across devices - PC, laptop, tab and mobile. What’s more, the team has developed a mobile app of the same name. So accounting ‘on-the-go’ is no more a pipe dream; it’s a tangible truth.

Multiple capabilities:

Accumate is multifunctional. Apart from smartly managing the company books, it also covers banking, taxation, reporting and compliances. Making bank entries is a breeze. And so is handling tax related tasks like filing returns, paying taxes. Accumate creates reports in a refreshing pictorial form, making them easy to understand and analyze.

Putting CA in the comfort zone:

Accumate doesn’t only benefit business users; it also makes life easier for chartered accountants. No need to visit the client’s office or remind them about filing returns and paying taxes. The consultant can conveniently access the client’s accounting data online and work on it from anywhere.

Remarkable response:

Say Rohan, “We are getting encouraging feedback from the clients who have subscribed for Accumate. And we are already getting referrals!” Talking about the name for the solution, Kalpak adds “Accumate is a combo word, made up by truncating the two words ‘Accurate’ and ‘Mate’. Accumate symbolizes Accuracy; it also stands for a fresh perspective of accounting work as your Mate.” Rushabh, the domain expert, is definitely upbeat about the positive response to Accumate. “Accumate’s power lies in its simplicity and versatility. It saves time, reduces effort and optimizes technology investment as well as operating costs. It is definitely designed to drive business growth.”