Financial Accounting

Accounting

Bank Reconciliation

A company's cash account records all the transactions related to cash. Similarly Bank also records all the transactions of its account. The balance of these two account should be equal. But in most cases they don't match properly.

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Accounting

Service List for VAT Deduction at Source

Here is the list of services where VAT deduction at source is mandatory. Those services have been listed in the paragraph 02 of NBR’s General Order No-14/Mushak/2017 dated: 01 July, 2017.

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Accounting

Accounts Receivable

Receivable is a due from any individual or company to other individual or company. Accounts receivable is a due that generated by selling products or services to individual or company.

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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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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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