Accounting

Double Entry Accounting System

Double entry accounting system is the scientific method of recording business transactions. It has been first documented by Luca Pacioli in 1494.

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Accounting

Single Entry Accounting System

A single entry bookkeeping is an accounting system that records only one entry for a transaction to the accounting records.

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Layered Architecture

The most common architectural pattern is the Layered Architectural pattern. It is the most widely used architectural pattern in today industry. This pattern is easy to implement and it has similarity with the organizational architecture.

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Accounting

GST - Input Tax Credit

There are two types of transactions happen in any business, inward supply and outward supply. Business procure raw materials, semi-finished or finished goods which is inward supply and after making the product they sale it, which is outward supply.

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Accounting

GST - Refund Voucher

Generally manufacturers demand advance to delivery a bulk of products. Service providers also asks for an advance payment for completion of a service.

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Accounting

GST - Advance Receive

Taking advance against an order is a common scenario in business. Usually suppliers take advance from customers to ensure that the order will not be cancelled. Before GST there was no effect of advance on tax.

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