Reach Accountant
Reach Accountant
YouTube Video
  • Business gets financed by Capital or Debt. This infusion of finance has to be recorded in the Accounting Software. In this Chapter, we will teach you how to Record Loans taken and Capital Infusion in Reach Accounting Software Learning Objectives: • Record a Loan • Record an EMI Payment • Record Partners Capital Recording a Loan A Loan or a Debt is raised for a business to finance its trade or I...

Reach Accountant
Reach Accountant
YouTube Video
  • Buying and Selling Assets happen in the due course of business, We will have to record these transactions in the Accounting Software along with the depreciation at the year end close. In this section, lets learn how Asset Purchases can be recorded in Reach Accounting Software Learning Objectives: • Record an Asset Purchase in Reach • Record as Asset Sale in Reach • Record Depreciation in Reach ...

Reach Accountant
Reach Accountant
YouTube Video
Reach Accountant
Reach Accountant
YouTube Video
  • Learning Objectives: • Methods of year end closure • Understand the accounting entries at the end of year. • Exporting of key transactions are done in Reach Methods of year end closure Once the financial year comes to a close, we have to enter the transactions in the new financial year either as a new data file or as a continuation to the existing file. The balances of customers and vendors have...

Reach Accountant
Reach Accountant
Blog Post
  • Which is the Best GST Software In India ? With the introduction of Goods and Service Tax, various state and central taxes has been subsumed, thus reducing the cascading effects of taxation for the end consumers. Every business unit is different and it has its own different expectations from any accounting software. Many companies are coming up with different software […] The post Best GST Software...

Reach Accountant
Reach Accountant
Blog Post
  • Input tax credit (also referred to as, “ITC”) is one of the key features of Goods and Services Tax. Input Tax Credit under GST means the credit of GST paid on purchase of Goods and Services which are used for the furtherance of business. The taxpayer is allowed to claim the Input tax Credit of GST incurred on his purchases […] The post Input Tax Credit under GST appeared first on Reach Accounting ...

Reach Accountant
Reach Accountant
Blog Post
  • In any tax system, registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input Tax Credit for the taxes […] The post GST Registration ...

Reach Accountant
Reach Accountant
Blog Post
  • Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence.Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Offences and Penalties under GST The GST Act lists 21 offences in section 122 which are subject to a penalty of 10,000 […] The post Offences and Penalties under GST appeared first on Reach A...

Reach Accountant
Reach Accountant
Blog Post
  • Every person who is liable to pay tax under GST fails to pay the tax or any part thereof to the Government within the due date, interest will be levied on the late payment. Such interest on GST late payment shall be calculated from the day succeeding the day on which such tax was due to be paid. Interest on […] The post Interest on GST late payment appeared first on Reach Accounting Software.

Reach Accountant
Reach Accountant
Blog Post
  • GST is a multi-stage value added tax on consumption of goods or services or both. Transition provisions are incorporated under GST to enable existing taxpayers to migrate to GST in a transparent and exact manner. It is very essential to have transition provisions to ensure that the transition to the GST regime is hassle-free and no ITC (Input Tax Credit)/benefits […] The post TRANSITION PROVISIONS...

Reach Accountant
Reach Accountant
Blog Post
  • In India, Every business needs to know about the GST Invoice rules. Generally, an invoice is a commercial instrument issued by a seller to a buyer. As per GST law, it is not necessary that only a person supplying goods or services needs to issue an invoice but also “any registered person buying goods or services from an unregistered person […] The post How to Invoice under GST? appeared first on R...

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