How Payroll Systems Work

To provide the salary to employees needs the system and this system is payroll system. In this system, boss pays the salaries of employees on the time with correct amount. He also deduct all TDS and deposit it in the Govt. account. In big company, a separate team is appointed for handling all salaries, bonus and employees' fund.

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Why should NRI Return to India

Yesterday, my old NRI student met me. He is living in Canada. We talked old days when I taught him. He is about 70 years who settled in Canada many years ago. Now, his children and grandchildren are in Canada. His grandchildren are studying in Canadian university.

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How to Be Punctual in Studies

In education, there is big importance of punctuality. A student who is the punctual of time, will grow in studies. If you want to become punctual in studies, first you should understand the value of time. Your wastage of one minute will effect others in the society.

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Clearinghouse

In finance, clearinghouse is the institution which safeguard the parties of future contract from the risk of default. For this, clearinghouse get commission from both parties. This organisation provides the insurance to seller and buyer of the future contract, if any will default, this organisation will pay.

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Celebrate 7th Birthday of Accounting Education

Dear students and friends,

Today, we are celebrating Accounting Education's 7th birthday and we are inviting to you to join with us in this celebration. 7 years ago, on 19th Jan. 2008, Accounting Education came into existence. Today is 19th Jan. 2014 and it has completed his 7 years.

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Days' Sales in Inventory

In Management Accounting, Days' sales in inventory is also called Inventory Conversion Period. This is the measurement of time of converting bought or produced inventory into sales. It is important because by measuring this period, we can know whether it is more or less than normal period of conversion of inventory into sales. On this basis, we can take some good decisions.

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Zero Inventory

Zero inventory is the technique which is used by businessman for reducing the cost of inventory and increasing the cash flow. In simple word, to keep zero stock for selling purpose will be called zero inventory. But this decision is taken carefully.

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Accounts Receivable on the Balance Sheet

In balance sheet, we show accounts receivables as current asset. It means, it is short term loan which is given by organisation to other customer. This loan may be in cash or in stock. So, we have to take money after sometime. That is the reason, we show it in current asset on balance sheet.

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The Role of Accounting in the Medical Office

Medical office which are relating to health care organisation. All these organisations are doing the work in medical and surgery of human body and other animals. Accounting helps to manage its all financial record proper way.

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5 Useful Google Apps for Accountants

There are two types of google apps which may be helpful for accountants. One is which can use in computer and second is which can use in mobile. First, you can get from google chrome web-store and second, you can get google play store. Some are free and fore some, you need to pay.

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Debits and Credits for Fixed Assets

There are lots of fixed assets in every type of business. All are recording in the books of accounts through journal entries. After passing journal entries, each fixed asset account is prepared in ledger accounts. To record debits and credits of each asset account is important.

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What are Zero Coupon Bonds

Zero coupon bonds which is also called Kisan Vikas patr in India. These bonds are bought at the price which is less than its written price. For example, a zero coupon bonds written price is $ 10,000 and its maturity time is after 5 years. If it is bought at $ 5000, then it will be zero coupon bond.

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What is X Inefficiency

X Inefficiency is one of the type of inefficiency. This term is taken from economics but now it is also used in accounting. It means lack of efficiency to produce or get revenue at minimum cost. Our way of work is not good. Due to lack of quality in work, we will not obtain maximum return, so this lack of quality of work is X-inefficiency.

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Never too Late in Life (2015)

Yesterday was the end of 2014. I was in any facebook friend's wall where I found a very motivated points of never too late. I copied this banner and now it is first content of accounting education.

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Balance Sheet Equation Examples

Balance sheet equation is also called accounting equation. Balance sheet equation shows all the assets will always equal to owner's equity and outside liabilities. There is deep relationship of business's total assets and total liabilities. Total liabilities represents owner's equity and outside liabilities which are the sources of total asset's fund.

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How to Backup Accounting Software Data

 Anytime, your accounting data may lose if there is any crash in your accounting software. So, if you are intelligent, you should keep your recorded accounting data in any other way. In the digital time, it is possible.

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Debits and Credits for Expense Accounts

There are lots of expenses in every type of business. All are recording in the books of accounts through journal entries. After passing journal entries, each expense account is prepared in ledger accounts. To record debits and credits of each expense account is important.

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What can I do with My Money

If you have money, you can do only three things. But, I recommend use it in first two options. If you will not choose anyone from first two option, other will automatically selected.

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How to Become a Billionaire from Millionaire

If you are millionaire and you want to become billionaire, one thing will help you always. That is motivation. I can tell you the way of becoming billionaire because I feel myself as billionaire. I have good health, positive attitude and good friends and all these assets value is for me billions of dollars. Following steps may be helpful for you for becoming young billionaire.

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Best Time to Upgrade Your Accounting Software

There are lots of factors which you should consider when you have to decide your accounting software upgrade. Upgrade your accounting software means, you have to pay more money for getting something advance in your accounting software. 

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