What does an account mean?
The main purpose of keeping accounts is to keep records of revenue and expenditure. A self-employed individual must have appropriate books and records. That is inevitable for any person who has to file a tax return and manage money.
Accounting service providing software is an application that helps businesses manage accounting data and maintain records of financial transactions, such as billing, pay, accounts receivable, accounts payable, etc and The GST billing software allows business owners to file GST returns and other compliance documentation monthly, quarterly or annually. e-invoice is a system where B2B invoices are electronically authenticated by GSTN for future use of the common GST portal. Under the electronic billing system, an identification number will be issued for each invoice by the Invoice Registration Portal (IRP) which will be managed by the GST Network (GSTN).
Accounting is a key function for most businesses. It maybe managed by an accountant in a small company, or by large financial departments with dozens of employees in large companies. The reports produced by the various aspects of accounting, such as cost accounting and management accounting, are invaluable to help management make sound business decisions.
Financial statements that summarize the activities, financial position and cash flows of a large company over a given period are concise and consolidated reports based on thousands of financial transactions
As such, all professional accounting designations are the culmination of years of study and rigorous reviews combined with a minimum of years of practical accounting experience.
