New Batch Starting for Accounting Courses – Register now !

– Register now. New Morning EC Batch starting from June 5, 2018 timing 8…

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– Register now. New Morning EC Batch starting from June 5, 2018 timing 8 am to 10 am (Ideal for Tally Course, Accounting Course, Job-oriented Course). For more details visit / call S20.

– Get early bird discount by making advanced booking for new Adv. EC Batch starting from July 15, 2018 timing 8 am to 10 am (Ideal for Advanced Accounting Course, Taxation Course, Advanced Taxation Course, Tax Consultant Course). For more details visit / call S20.

– Hurry up. New Noon EC Batch starting from June 15, 2018 timing 1:30 pm to 3:30 pm (Ideal for Accounting Training, Tally Training, Job-oriented Training).

Success of Tally as a Software – II

In our previous article, we looked upon the history of Tally as a software.…

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In our previous article, we looked upon the history of Tally as a software. How Tally has grown as a software after their initiative of Tally Training Courses. Today let us discuss further on this topic by elaborating on various functions Tally has developed over time and about latest version of Tally and its functions.

Tally has multiple modules incorporated in a single software. These modules help you in inventory management, payroll and invoicing along with day to day accounting. So any person with reasonable understanding of these functions along with proper Tally Training Course can handle this software and perform these functions easily. As we see in various small organization Tally has made like simpler for them. That is the primary reason why Tally is successful.

Latest version of Tally in the market is Tally ERP 9. Is it really an ERP? Well, as the No.1 Accounting Training Institute in Ahmedabad, we have multiple experiences of various accounting softwares and Finance Modules of ERP packages. No other Accounting Training Institute in Ahmedabad uses as many softwares as we use. Well, our experience is that Tally is a very simple user-friendly ERP-like software when used holistically across a small organization. Compared to other ERP packages it is cheaper, user-friendly and simple. But it is not an ERP in true sense. Main purpose of Tally ERP as we preach in our Tally Courses and Tally Training is to generate back up files which are compatible for upload in various ERPs like SAP or Oracle.

The mantras for success are apparent.

1. Remain user-friendly
Tally has always remained user-friendly. Extremely easy to use. Butterlike smooth in functioning. We have experienced this in our Tally Training Institute in Ahmedabad. Students take no time in recognizing this fact.

2. Give ‘Sasta’
Cost advantage is hard to replicate. Many other softwares came and went by just because they could not replicate the cost advantage offered by Tally at similar cost.

3. Give what customer wants
Customers demanded ERP version. They gave. Just one example. Always tried to elate their customers by offering what they really wanted.

4. Target the masses
They have always tried to cover the large mass of SMEs in India. This has really helped Tally. It is beyond doubt that because of this their revenues multiplied year on year.

5. Remain simple
They remained simple. Simple to operate. Simple to buy. Simple to learn. We are one the best Tally Training Institute in Ahmedabad and we have always experienced that the students catch up learning, operating and using Tally so quickly. Always simple.

If you like the article, do not forget to share the knowledge. If you like any of Tally Courses, Accounting Courses, Taxation Courses, GST Courses, you are welcome at our Institute. We are one of the most quality conscious, practical, job-oriented and the best Tally Training Institute in Ahmedabad. Feel free to reach us.

Creation and Submission of GSTR- 3B | GST Part-V

This is a Part-V of our ongoing GST series of articles. Today we will…

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This is a Part-V of our ongoing GST series of articles. Today we will discuss about GSTR-3B in this article. Though we have an institute which specializes in GST Training, Taxation Training, we believe that the same knowledge should be shared to common public though they are not part of our GST Course or Taxation Course. Ok let us discuss about GSTR-3B.

GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner

A normal taxpayer is required to file GSTR-1, 2, & 3 returns for every tax period. In case of extension of due dates for filing of GSTR-1 and GSTR-2, GSTR-3B needs to be filed and subsequently if there is any discrepancy between the system generated 3B and earlier filed 3B the taxpayer will have to pay additional tax, liability and other dues. Looks simple huh…? Actually my accountants / professionals find it very difficult to prepare this due to lack of their GST Training and Taxation Training. Hence, they join various GST Courses or Taxation Courses. Hence, as the best GST Training Institute in Ahmedabad and the best Taxation Training Institute in Ahmedabad, we feel that it is our social responsibility to spread such articles among general public for their benefit.

Who needs to file the GSTR-3B?
All normal taxpayers and casual taxpayers are required to file the GSTR-3B every time there is an extension of due dates of filing for GSTR-1 and GSTR-2. At present as per 27th GST Council meeting, GSTR-3B is to be filled till 30th September, 2018.

Where can I file GSTR-3B?
GSTR-3B can be filed from the returns section of the GST Portal. In the post-login mode, you can access it by going to Services > Returns > Returns Dashboard. After selecting the financial year and tax period, GSTR-3B, (if applicable), in the given period will be displayed.

What is the due date for filing the GSTR-3B?
GSTR-3B is to be filed on 20th day from the end of the month for which return is to be filed.

Details in Section – 3.1 Tax on outward and reverse charge inward supplies
Enter the Total Taxable value, Integrated Tax, Central Tax, State/UT Tax and Cess under respective nature of supplies column. In case of other outward supplies (Nil Rated, exempted) and Non-GST outward supplies, the total taxable value imply the total values of such supplies, excluding taxes. In certain cases reverse charge is also applicable. The same is to be filled under reverse charge inward supplies row of section 3.1.

Details in Section – 3.2 Inter-state supplies
In the section Supplies made to Unregistered Persons or Registered persons or composition scheme holder as applicable following information is to be filled.

– From the Place of Supply (State/UT) drop-down list, select the place of supply.

– In the Total Taxable Value field, enter the total taxable value for each State/UT.

– In the Amount of Integrated Tax field, enter the amount of integrated tax. Please ensure that the integrated tax amount provided here does not exceed the integrated tax liability declared. Only integrated tax amount has to be declared, cess amount is not required to be mentioned.

Details in Section – 4. Eligible ITC
Eligible ITC tile in GSTR-3B will reflect the total value of Integrated Tax, Central Tax, State/UT Tax and Cess net ITCs. There are various types of ITC available for the eligible inputs. Normal ITC on purchase of goods is to be filled up in row no. 5 all other ITC.

Details in Section – 5. Exempt, Nil and Non GST inward supplies
Exempt, Nil and Non GST inward supplies tile in GSTR-3B will reflect the total value of Inter-state and Intra-state supplies.

Details in Section – 5.1 Interest and Late Fee

Interest and Late Fee tile in GSTR-3B total value of Integrated Tax, Central Tax, State/UT Tax and Cess.

Note: Late fee for the month includes previous month’s late fee charged due to delay in filing of return. The calculation is [Date of Filing –Due date of Filing)] * 25/day * per Act (CGST/SGST). Late of late fee is Rs. 10/- if no liability accrues during the month. The late filing fees are auto populated and need not to be calculated manually.

File GSTR-3B
From the Authorised Signatory drop-down list, select the authorized signatory then we can file GSTR-3B either by EVC or by digital signature of the signatory.

So guys, next time whenever you have any doubts in this regard, feel free to contact us. We are into Tally Training, Accounting Training, Taxation Training, GST Training. Our Institute is located at Ashram Road, Ahmedabad. We do have Taxation Courses, Tally Courses, Accounting Courses, GST Courses in Ahmedabad for various aspirants.

Success of Tally as an Accounting Software – I

Friends in today’s article we will try to understand the success of Tally as…

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Friends in today’s article we will try to understand the success of Tally as an Accounting software. Well, before we begin let me just introduce ourselves. We are No.1 in Tally Training, GST Training, Taxation Training and Accounting coaching classes in Ahmedabad. We have been very successful in getting students jobs after completion of their Accounting Courses, Tally Courses, Taxation Courses, GST Courses.

How Tally was born?
Tally is a brainchild of S S Goenka and his son Bharat. Goenkas were facing problems in handling their day to day bookkeeping and accounting. So Bharat being a brilliant graduate in Mathematics took up a challenge to develop an MS-DOS based accounting software Peutronics Financial Accountant. It was a success way back in 1986. So a smart guy with an urge to solve problem became an instant success. May be someone has advised them to rename this software so they renamed it to Tally. And we have a world class brand like Tally with us serving us since then.

With the changes in technologies, Tally has coped up with the same pace of changes. They launched Windows based version when Windows were launched. When ERP started penetrating businesses they launched Tally ERP versions. And Tally ERP became rage. Their latest version Tally ERP 9 became money-spinner. Over a period of time, they also kept incorporating various taxation and compliances related modules and changes into the software. So Tally was not just used in Accounting it was used in Taxation, Sales Tax, GST related compliances also. It really made life of businesses and accounting in particular very smooth.

Very important for any software product company is to have people addicted to their software. So they did not bother about piracy. They launched education version, auditor access, schemes for Chartered Accountants. This has created a fort around them. They did wonders with such high penetration strategies.

The major change came when they pushed on Tally Training – A Training based on their software. And soon you see flourishing Tally Courses, Tally Training Institutes. There are many students vying to get themselves do Accounting Course through a Tally Course. Tally became synonymous with Accounting in many parts of the country. Many institutes launched Tally Accounting Course, Tally Taxation Course, Tally GST Course etc. Tally Courses based on various versions of Tally also were in demand. So basically, through this route the product went viral. It so became that students wanted to Accounting Course / Training will come and ask for Tally Course at the Institute or an accountant wanted to learn Taxation came to ask for Tally Taxation Course or GST Course. I think Goenkas may not have expected this much love and affection from the users.

We are no fan of an Accounting Software. But let us accept that Tally has created name for itself. And it is really praiseworthy. An Indian company, completely homegrown and has made a mark for itself in this country. In the next article, we will discuss more on this topic.

Accounting and Tally classes in Ahmedabad are so much in demand that students despite having a subject to learn are still wanting to learn more from these classes. the bigger challenge is to find the right institute to train you and hone your accounting skills.

Financial Accounting – Accrual Method v/s Cash Method

Friends in our today’s article we will try to understand what is financial accounting.…

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Friends in our today’s article we will try to understand what is financial accounting. Well, many people try to undergo financial accounting coaching classes in Ahmedabad or may be a tally course or such other courses/training for their career enhancement. So what we do in such accounting courses/tally courses / quickbooks courses is quite deeper. But within this given space let us understand financial accounting.

So what is financial accounting? It is a specialized branch of accounting which deals with all of the company’s financial transactions. It is a process of recording, summarizing and reporting the myriad of transactions resulting from business activities for a particular time interval.

Now let us understand what various accounting training institutes, tally training institutes and software vendors like tally, quickbooks confuse us with two important terms i.e. Accrual v/s Cash. What is this? It is simply nothing but a difference of timing of recognition of revenue and expenditure. Financial accounting may be performed using either the accrual method, cash method or a combination of the two.

During the course of accounting/book keeping, accrual accounting method ensures recording transactions when the transactions have occurred/incurred and the revenue is recognizable.

Cash accounting entails recording transactions only when the cash is exchanged. Revenue is only recognized when the payment is received and expenses are only recorded when we make the actual payment. Looks simple, Right?

Both methods are used everywhere. Accrual accounting is more prevalent because most of the professional accountants generally adopt accrual method since they have generally undergone accounting courses/tally courses and they stress more on accrual accounting. Cash method is more prevalent in small businesses.

Now let us understand with an example.

We will write an accounting entry in the books of Amit Trading Corporation.

Amit Trading Corporation purchases goods from Pawan Dealers Pvt. Ltd. worth Rs. 1,05,000/- and paid Rs. 5,000/- as advance rest is payable when the goods are delivered.

In this case Amit Trading Corporation is a buyer

Now we will be able to understand the difference between accrual method and cash method of accounting.

This is just very basic things. In various tally courses/training or  accounting courses at our institute we make complex concepts very straightforward, use cases to work upon them. We are one of the top accounting institute in ahmedabad.

Feel free to contact us any time. Your feedback is most welcome.