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4 Things Every Business Needs for Bookkeeping



book keeping

Proper bookkeeping ensures that your business is in order at all times. It helps you to keep your records straight, prepared for tax season, and on top of your company’s earnings and losses. If you’re going to keep your books well, there are some essential tools your business will need. Even though you may be able to do without some of them, you’ll find that the following bookkeeping tools are extremely helpful in growing your business and keeping it stable.

  1. Automated Payroll

The larger the business is, the harder it is to keep track of payroll for everybody. You want to make sure that all your employees are paid on time and paid accurately and that no one is left behind. You want a method for recording all payments so that you have a record of these kinds of transactions. This creates a paper trail that’s easy to follow and a level of accountability that’s healthy for your companies. Many bookkeeping or  รับทำบัญชี services will use automated payroll services to keep track of payments to be made, payments that have been made, and other details having to do with paying employees. There are a number of different programs you can use online that do a lot of the work for you. You simply input the base data, or your bookkeeping service inputs it for you, and then your future payroll calculations are handled by the program. It’s a very efficient and effective way to track payroll.

  1. Bill Pay System

Your business will have bills to pay, and it’s important that these are paid on time. If you get busy with the details of running your company and day-to-day tasks, you may forget about some of those bills. You want to ensure that the electricity, water, Internet, and other bills are paid in a timely manner. With a computerized bill pay system, those payments are made automatically, deducted from your company’s business account. A bill pay service can schedule the payments for you, ensuring that they are paid ahead of time or on the due date so that you are never late and you never miss a payment. This keeps you in good standing with the services your company uses and ensures that you don’t have to suffer from a power outage, water shortage, or other problems that come from not paying your bills. This kind of tool is very helpful because it just gives you one less thing to worry about as a business owner.

  1. Growth Chart

You want to track your businesses growth from year to year. You should look at factors like sales, customers, assets, new store locations, and more. Tracking your growth tells you how your business is doing in a way that visual and easy to understand. You may feel like your business is growing, but to actually see it in front of you in a detailed chart can make it feel more real. You can decide how you want this chart to look and what kind of details it contains, but it is an important tool to have in order to understand where your business is headed and how quickly it’s moving there. You can set goals using a chart like this, and at the end of the year, you can see how far you advance. You may want to periodically update and check in on the growth chart to see how you’re performing for the year so far. This can motivate you to make necessary changes to reach your goals.

  1. POS (Point of Sales)

The final tool in the bookkeeper’s belt that we want to discuss here is the point-of-sales data. You definitely want to be tracking what kind of sales are coming in. You shouldn’t just track how much sales your business is getting but also where the sales are coming from. This tells you important information like which parts of your business are most profitable and where you should be spending most of your efforts. It also tells you which parts could benefit from some improvement or changes.

These tools will be invaluable as you track your business throughout the year and work to keep everything running smoothly.

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Mahesh is leading digital marketing initiatives at RecentlyHeard, a NewsFeed platform that covers news from all sectors. He develops, manages, and executes digital strategies to increase online visibility, better reach target audiences, and create engaging experience across channels. With 7+ years of experience, He is skilled in search engine optimization, content marketing, social media marketing, and advertising, and analytics.



Different Types of Assessment in Income Tax in India



Assessment in Income Tax in India

In India, anyone eligible for tax returns under a certain category needs to comply with the government’s Income Tax Act of 1961. Under the eligibility criteria, a person’s income determines the amount of tax they can pay. However, the various tax assessments in India can be rather confusing, and most individuals or companies may find tax return filings a difficult process.

There are different types of ITR filing systems and income tax assessments in India. For starters, there are various evaluations companies or individuals are required to file based upon their income. Here’s a brief look at different types of income tax assessments.

Assessment Types & Procedures for Income Tax

Summary Assessment

The Summary Assessment in income tax returns is carried out without any human interaction. In this process, taxpayers file their returns as per the regulations. For example, an assessee may deduct TDS and file a return. However, if the department records show an incorrect entry based on the PAN card provided, they may send a notice of adjustment to the done by the taxpayer.

If the assessee is liable to credit more than the amount of tax already paid, the government institution may send a notice under Section 143 (1). The taxpayer can respond to the notice and pay the owed amount to the income tax department within the time limit. All such Summary Assessment notices should be taken seriously.

Self Assessment

With the Self Assessment type of income tax returns, a person determines the tax they are liable to pay themselves. An individual assesses their income and calculates the amount of tax, keeping in mind the rules and regulations set by the authorities.

After going through the ledger of the annual income and expenditure, and post calculating the TDS, advance tax, and depreciation, the amount of tax they are liable to pay for the financial year is calculated and the individual pays the income tax. This method is known as the self-assessment type of income tax return.

Regular Assessment

In the regular assessment type of income tax returns, the department entrusts the assessment of an individual to an authorised officer. The income tax officer then goes through the returns filed by an individual and procures their reports. This process ensures that the taxpayer hasn’t overstated or understated any expenses or losses in the financial year.

Furthermore, the assigned officer has to identify and point out any unpaid tax. In the traditional assessment method, the department sends a notice to the assessee and asks them to provide proof of the books of accounts and other accounting records. If the assessee is required to credit tax, they must respond accordingly.

Best Judgement Assessment

The Best Judgement Assessment of income tax occurs when an assessee fails to comply according to the notice sent to them by the department. Moreover, suppose the department issues a special audit. In that case, the assigned officer then calculates the amount of tax an individual has to pay in a notice. If they fail to engage in an argument regarding the tax amount, the officer scrutinises the accounts and concludes based on the best judgment method.

Protective Assessment

When an income tax claim involves two or more parties, and there is a dispute about which party is responsible for paying the tax, the Protective Assessment rule is applied. The IT officer proceeds with protective measures to ensure that the tax is collected from the right individual.

In such a case, the assessing officer, who doesn’t know the true nature of the ownership of an asset that needs to be taxed, considers the income of all parties involved in claiming ownership over the said asset. Post the settlement on the ownership claim, the income tax department decides which individual party is responsible for paying the tax and proceeds for claim settlements.

Income Escaping Assessment

The Income Escaping Assessment is used when an assessment officer finds that a taxpayer has escaped liable income tax. The income tax department can issue a notice to an assessee within four years from the end of the relevant financial year.

The Income Escape Assessment is applied in the following situations:

  • When a person’s income is eligible for tax collection, but they have failed to file returns.
  • When someone has understated income or overstated deductions and excess allowances.
  • When there have been international transactions from the assessee, but there are no such records in the reports.

Based on the Income Escaping Assessment, the claims for some can be settled quickly by producing the necessary records or by claim settlement methods. However, for a few, the Income Escaping Assessment method can be lengthy and troublesome. For this reason, it is better to get in touch with the Chartered Accountant or legal services for settlements.

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Do You Need To Pick The Brain Of Experts To Know White Storage Packaging Boxes?



Here You Get A Picture!

Storing Your Items Can Be A Difficult Task, But With The Right Storage Boxes, You Will Find It Much Easier. Whether you have a lot of clothes or just want to store some random knick-knacks from around the house, storage boxes are an affordable solution for anyone looking to declutter their living space.

Indeed, we girls just love to have a lot of the things on our dressing tables. Not only we girls but now men too have so many beautiful things which they have to settle down altogether on their dressing tables.

No matter how many times you arrange your dressing table, it all gets messed up again whenever you get ready. There is a great need for a permanent solution to get rid of this daily scathe.

One of the best solutions for this tension is to go with Custom-designed Storage Boxes.

When it comes to storage, the more space you have, the better. You can never go wrong with adding a little bit of extra space in your home, whether under your bed or behind closed doors.

These high-quality white storage boxes are great for storing toys, clothes, and basically anything else you may need to keep away.

They are also great when it comes time to move out! They come in many different shapes and sizes, so there is something for everyone’s budget! Now you get organized with these white branded storage boxes today!

What Are The Benefits Of Using Printed Storage Boxes?

Custom storage white boxes are a great way to store and organize your packaging company’s inventory. They provide 5 detailed benefits that make them worth the investment.

Benefit #1: Storage Boxes Come In Various Sizes:

One of the best things about no minimum white storage boxes is that they come in various sizes, which means you can find one to fit your needs. You can get a box for small items or large products, depending on what you need it for. This makes it easy to find what you’re looking for!

Benefit #2: White Boxes Are Durable And Easy To Clean:

Custom white packaging boxes are made from durable cardboard material, so there’s no fear of them breaking when you move them around. They’re easy to clean, so you don’t have to worry about stains or residues being left behind. Plus, they come in a variety of colors – perfect for branding!

Benefit #3: Custom Storage Boxes Come With Lids And Dividers:

Another great thing about custom cardboard white gift boxes is that they come with lids and dividers. This makes it easy to keep your items organized inside the box, so you can see everything at a glance without having to dig through layers of things!

Benefit #4: Boxes Use for Almost Anything:

White mailing printed packaging boxes in Australia are great for almost anything you need them for! Whether you want to use them as a packing box, promotional material, or even food storage – they’re an ideal option.

White Boxes Packaging Company in Australia

If you’re looking for a way to store your jewelry, try one of these wholesale white jewelry boxes. They are the perfect solution for every person who tries to keep their messy jewelry box and wants an organized space to keep all their jewels in one place.

Benefit #5: An Excellent Choice If You Want To Store Items Securely.

If your business needs secure storage, consider investing in custom storage or small white boxes for better security. You can choose from a range of sizes and shapes that suit specific purposes.

In addition, custom storage is not just about keeping the things inside safe; it also helps maintain order and reduce the risk of misplacing something. So what are you still waiting for?

Go to any online packaging company that will provide you with the best custom printed white storage box with free shipping services.

How to Get Creative Storage Boxes?

Many people are looking for creative custom printed storage boxes but don’t know where to start. It’s no surprise that the internet is flooded with them! But how do you find the right ones?

There are so many choices out there; it can be challenging to decide which one will work best for your needs.
We have compiled this list of questions to get you to find the perfect creative storage box for your home or office.

-Do I need a large number of custom-designing boxes? -What type of material should they be made out of? -How much space do I have in my closet or room?

-What color would I like my boxes to be? -How much time do I have to spend setting up my boxes? -Do I need a lid for them?

Do you have a hard time finding space to store items in your home? Are you feeling frustrated with the lack of storage for all of your stuff?

You don’t need to spend money on expensive furniture or shelving units. Instead, purchase some creative storage boxes. With these, you can create customized spaces for everything from toys and clothes to kitchen appliances and office supplies.

The Impact of Wide Colors Assortment:

Packaging is one of the most critical aspects of selling a product. It is the first thing that potential customers see, and it can be what convinces them to buy a product or not.

Many companies realize the importance of colorful packaging services and use a wider assortment of colors in their designs.

What Is The Trick To Getting High Sales?

The perfect promotion trick is wholesale white storage boxes!

It’s no secret that personalized storage boxes in Australia are a convenient way to organize and store your belongings, but what is the trick to getting high sales with storage boxes?

Many factors come into play when it comes to selling product packaging boxes, but there are three main things you can do to increase your chances of success: offer a variety of box sizes, make sure they are easily visible, and keep prices reasonable.

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How Local Economies Benefit From Affordable Housing – Maxwell Drever




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Affordable Housing

There are several myths and misconceptions about affordable housing. They are born due to negative assumptions about the impact on property values and societal change in neighborhoods. While these tend to come together to oppose the establishment of affordable housing communities, in reality, the lack of affordable and secure housing is costing many cities in America dearly. Cities unable to cater to the demand for affordable housing lose residents, a part of their workforce, and prevent their local economies from growing to their potential. Moreover, the high prices of housing mean people cannot afford to buy properties, work, and spend locally. Some typical benefits of affordable housing development:

A More Economically Vibrant Local Community 

With rent being the single biggest head of expenditure in their budgets, people have less to spare for spending on other things. As may be imagined, this hurts the local economy. One of the biggest fallouts of lower rents in affordable housing is that the residents have more money to spend on other items, observes Maxwell Drever. However, with rents being lower due to affordable housing units, the residents are in a more financially comfortable situation and can indulge in discretionary spending on local purchases for better quality food, better healthcare, leisure, and entertainment.

Lesser Chance of Being Evicted 

According to studies, some 108 million people in America live in rented properties, and a quarter of them spend more than half of their monthly income on rent. It means that for a large number of people, even one unexpected expense may leave them without the money to pay the monthly rent that can leave them facing eviction. With the unemployment rate rising to 10% due to the pandemic, people are already tightening their belts and making various sacrifices in their spending on groceries, childcare, education, healthcare, etc. to pay the rent. With many workers making just enough to pay their rent every month, the threat of eviction is a harsh reality and likely to have severe repercussions for several generations. Also, a high rate of evictions harms the social and economic well-being of the community. For this reason, affordable housing is at the heart of a thriving community, says Maxwell Drever.

Healthier Population Translates To a More Robust Economy

While it may not be readily apparent, housing has a significant impact on an individual’s health. Being poor severely restricts the person’s options, which is the reason; the poor have a large number of health problems. Poorly constructed or maintained housing itself may be the reason for poor health due to environmental contamination and hazards, many of which affect the young and the old. The expense of treating illnesses can be more than that the poor can afford, and it can also impact their ability to afford healthy food and routine healthcare.


In addition to the compelling arguments already presented in favor of affordable housing, one of its most enduring impacts is the creation of job opportunities during the construction, and thereafter for leasing, maintenance, and operations. With the additional tax income, the government will also be in a better position to fund the development of the community

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