Tag: Accounts

  • Does a fixed deposit counted towards the saving account’s minimum balance?

    No, a fixed deposit does not count towards the minimum balance. I do have to appreciate you, if you come to this article searching such a logical question. The minimum balance requirement is for Saving Accounts (and Current Accounts), it is not waived if you do any other business dealings with the bank. Technically, a […]

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  • Choosing business tactics for your future that fit your unique business

    Choosing business tactics for your future that fit your unique business

    We live in an ever-changing world where people frequently have new ideas. Presently, corporations aren’t only on the rise, but small business owners are popping up everywhere as well. In addition to corporations and small businesses, there’s also a multitude of online stores and companies. Many individuals who dive in are already experienced, but many […]

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  • Double-entry bookkeeping system

    Double-entry bookkeeping system

    The Double Entry Bookkeeping system is scientific, perfect, and a complete method of recording business information in the books of accounts. Generally, in every business transaction, we find two accounts, out of which one account is given debit effect and another account is given credit effect. In other words, in this system for every debit, […]

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  • What is bookkeeping?

    What is bookkeeping?

    Bookkeeping is a systematic method of keeping and maintaining a record of day to day business transactions in words and figures in the books of accounts so as to show clearly and correctly the financial position of a business. Thus bookkeeping involves the following actions: To record summarized and systematic financial business transactions in the […]

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