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  2. Tally Solutions - Wikipedia

    en.wikipedia.org/wiki/Tally_Solutions

    Also in 2015, Tally Solutions announced the launch of Tally.ERP 9 Release 5.0 with taxation and compliance features. [13] In 2016, Tally Solutions was shortlisted as a GST Suvidha Provider to provide interface between the new Goods and Services Tax (GST) server and taxpayers, and in 2017, the company launched its updated GST compliance software.

  3. Local Body Tax - Wikipedia

    en.wikipedia.org/wiki/Local_Body_Tax

    Local Body Tax, popularly known by its abbreviation as LBT, is the tax imposed by the local civic bodies of India on the entry of goods into a local area for consumption, use or sale therein. [1] The tax is imposed based on the Entry 52 of the State List from the Schedule VII of the Constitution of India which reads; "Taxes on the entry of ...

  4. Bookkeeping - Wikipedia

    en.wikipedia.org/wiki/Bookkeeping

    A daybook is a descriptive and chronological (diary-like) record of day-to-day financial transactions; it is also called a book of original entry. The daybook's details must be transcribed formally into journals to enable posting to ledgers. Daybooks include: Sales daybook, for recording sales invoices.

  5. Journal entry - Wikipedia

    en.wikipedia.org/wiki/Journal_entry

    A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...

  6. Accounting software - Wikipedia

    en.wikipedia.org/wiki/Accounting_software

    Accounting software provides many benefits such as speed up the information retrieval process, bring efficiency in Bank reconciliation process, automatically prepare Value Added TAX (VAT) / Goods and Services TAX (GST), and, perhaps most importantly, provide the opportunity to see the real-time state of the company's financial position.

  7. Sales (accounting) - Wikipedia

    en.wikipedia.org/wiki/Sales_(accounting)

    In double-entry bookkeeping, a sale of merchandise is recorded in the general journal as a debit to cash or accounts receivable and a credit to the sales account. [3] The amount recorded is the actual monetary value of the transaction, not the list price of the merchandise.

  8. Indian Revenue Service - Wikipedia

    en.wikipedia.org/wiki/Indian_Revenue_Service

    Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.

  9. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    Organizations may instead employ one or more spreadsheets for their ledgers, including the general ledger, or may utilize specialized software to automate ledger entry and handling. When a business uses enterprise resource planning (ERP) software, a financial-features module produces subledgers and the general ledger, with entries drawn from a ...