Accounting & finance

1 Pay a bill and deduct TDS Allocating a payment, settling the TDS the bill booked when it was entered, and clearing it with a… 2 Prepare GSTR-1 and 3B Reading the return, checking it, and exporting for the portal. 3 Run payroll Employees, PF, ESI and professional tax, a monthly run, and paying it. 4 Tax rates, GST and TDS The GST slabs that ship with a new business, adding a rate of your own, cess, international rates,… 5 Bills and expenses that repeat Rent, retainers, subscriptions and standing orders: set them up once from a bill or an expense and they… 6 Repay an employee who paid An expense somebody paid from their own pocket is owed to them. Repay it on its own or… 7 Read the balance sheet What the business has, what it owes and what the owners have in it, at any date, in… 8 Plan the year with a budget What you expect to earn and spend each month, against what the books say happened. 9 Move money between your accounts Cash into the bank, the bank to a card, one account to another: recorded once, on both statements. 10 Reconcile a bank account Bring in the statement your bank gives you and tick off each line against the books. 11 Change several expenses, bills or payments at once Tick the rows, choose Change, and set the category, the due date, the mode or the account on… 12 Returned goods on credit and debit notes Goods a customer brings back go into stock with the credit note; goods you send back to a… 13 Stock in the books The goods on your shelves are on the balance sheet, valued at weighted average cost at each month… 14 Payments in another currency A payment against a USD invoice is in USD, at the rate the bank gave. The difference from… 15 Revalue foreign currency balances Restate open foreign invoices and bills at a month end rate, as an unrealised gain or loss turned… 16 Fixed assets and depreciation A computer, a van, a machine: what it cost, how it was paid for, what it loses each… 17 Write a manual journal An accrual, a correction, a reclassification: debits and credits written by hand, and the rules they follow.