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Book keeping made simple

No matter where you go, who you ask, it has been a notion that accounting is a very complex science and should be left to professionals. Why do most of us think that way? Let’s take a step back, what we intend to achieve out of accounting - the outcome, is what you need to know, there is no shortcut to that, however what pains us (who are unaware of book keeping) is not the outcome but the process of creating and maintain the books of accounts. So do we need to understand process of bookkeeping? If you are using our product, the answer is a NO. But you do need to understand what you want to achieve – the outcome. So let’s look at each statement, as the accountants call, which you need and is not optional when it comes to filing returns for your business.

Profit and loss statement

Very simply, it reports a company’s revenues, expenses, net’s the two and gives you profit or loss which occurred during a specified period. That’s it, that’s all you need to know. However, you may have got into creating one and may have made error in calculation and have not known the exact format of this statement and have thought if there was some tool that could do it for you in a much simpler way? Well you have a solution now 

Balance sheet

Balance sheet is a key statement that is indicator of health of a business. Put in simple terms it should tell you, your investors (if applicable), what your business owns (assets) and what your business owes (the liabilities). Sounds simple, but a bit complex when you try to create one for your business. So don’t concern yourself with that, just understand what it is and let our tool do the build for you.

Daily cash book

Simply put, it net’s off what you receive in cash and what you have paid in cash for the day. Do you need a tool to keep track of this? May be no, but what if it’s part and parcel of other complex stuff you get from the software. Another job, well done!

Tax Reports

Tax report give you details of the various taxes you collect and you need it handy, so that you can remit it to relevant tax authorities at the right time. With so many different taxes applicable, it may become a daunting task to keep track of all of it. What if, we say it comes as a part of the package of reports that are produced!

Account statement

This one gets very specific, talks about your business with each of your clients and vendors and is an individual statement for each entity, so that you are always aware of your position (owe, own or is even) with respective client or vendor. Question again, do you want to get into maintaining each out it yourself, manually? Definitely not! But you need to know.

Having understood all the key outcomes, our job is done! Because you don’t want to get into understanding how to build it as you have already left the job to topnotepad.com! A simple yet multi featured invoicing, accounting and CRM software.

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