A Slackers Guide to Bookkeeping-The Lewbowski Way
E Commerce Accounting 1.0- A must read Doing your books isn’t exactly a fun activity. You could be a slacker or a hardworking person, but there are definitely other entertaining things for you to do. So, we have come up with a slackers guide to bookkeeping. Use technology to make it easier Keeping track of […]
E Commerce Accounting 1.0- A must read
E Commerce Accounting 1.0- A must read The internet is fueling the world economy. India is no exception. An enormous population, increasing smart phone penetration and cheap data rates make India a prime market for any e-commerce business. A report by Business Today states that Indian e-commerce business has reached $38.5 billion. But before you start up […]
Messed Up Accounting: Books Breaking Bad
Messed Up Accounting: Books Breaking Bad We have given you a guide on effective accounting and setting up financial systems. What if these guides are not followed? The result will be messed up accounting and a bad set of books. Here is a primer on how to identify mistakes in your books of accounts. Accounts not Reconciled Bank accounts, […]
GST Changes: Input Credit Restriction
SaaS: How to Recognize Revenue Another set of changes to GST law has been announced on 20.10.2019. This time the GST Council has decided to restrict the input credit available to tax payers. Consequently, input credit in respect of invoices/ debit notes not uploaded by suppliers (i.e. not appearing in form GSTR-2A) cannot be availed in […]
SaaS: How to Recognize Revenue
SaaS: How to Recognize Revenue The SaaS business model provides some interesting challenges to both businesses and accountants.The SaaS industry has several metrics to measure growth. There are terms like Monthly Recurring Revenue, Average Revenue Per User, Annual Contract Value, all these have revenue in common.But these may not have any accounting relevance.How to recognize revenue for […]
Setting up Financial Systems
Setting up Financial Systems At Integra Books we have helped multiple clients raise capital from Angels and VC’s. Fund raising is an exhaustive process involving due diligence , pre & post funding compliance’s. Investors look at not only at the business prospects but also at the financial systems in the company. Consequently, having a few key things tied up and organized […]
Retail:Financial Metrics
Cash Basis Accounting vs. Accrual Accounting Anyone with a business knows that the numbers don’t lie.Retail is a hyper-competitive industry. And, I promise, your competition is already tracking and measuring retail metrics. Retail, in particular, is data rich with constant tracking on so many levels. A lot of business owners lose out as they do […]
Cash Basis Accounting vs. Accrual Accounting
Cash Basis Accounting vs. Accrual Accounting In our previous post we have touched upon how to make your accounting effective. In this post we will explore ” Cash Basis Accounting vs Accrual Accounting” in detail. The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded in your accounts.Cash […]
Income Tax Assessments
Income Tax Assessments In our previous blog, we examined the new income tax assessment structure. In this post, we shall look at the various types of income tax assessments conducted by the department.The department selects cases for assessment based on certain parameters. The parameters for FY 18-19 has been published by the department on 05.09.2019. Under the […]
Income Tax E-Assessment Scheme 2019
Income Tax E-Assessment Scheme 2019 The Finance Minister in her Budget speech had announced the formation of National E-Assessment Centre (NeAC) to handle all Income Tax assessments. Consequently, the NeAC has been launched from 08th October 2019. In this post we shall examine the structure of E-Assessment Scheme 2019. What is an Income Tax Assessment? […]
