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What is a Lot number
November 20, 2023

What is a LOT Number? Everything You Need to Know

Business owners find it difficult to run an enterprise without any complexities. As your business grows, even your warehouses expand. Hence, you will be required to fit a system in
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What is LIFO Method
November 14, 2023

What is the LIFO Method? Definition and Example

Inventory is an important part of any business. It has the capability to influence the revenue of the business directly. There are many inventory methods to manage and control the
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What is a Journal Entry in Accounting
November 13, 2023

What is a Journal Entry in Accounting?

Accounting is crucial for the business to analyze and comprehend the financial status of the entity. Further, it is essential as it points out the business’s financial position. Business leaders
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Just-in-Time Inventory
November 7, 2023

What is Just-in-Time Inventory?

Inventory Management  requires a lot of planning to effectively function without any bottlenecks. Just-in-time inventory management is crucial to increase efficiency and lower inventory costs for the company. A study
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November 1, 2023

Time Entry and Reporting

Time entry and reporting is to record the cost of labor utilized for a Project Task such as Project management, drafting, control engineering, etc. Time Entry and Reporting →Steps for
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Quick Entry Mode in Sage 300
November 1, 2023

Quick Entry Mode in Sage 300

According to the Minimum Wages Act 1948, it’s mandatory for corporate employees to work for 9 hours a day, and out of every department it has always been observed that
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ERP for Subscription Business
October 31, 2023

How ERP for Subscription Business Empowers Recurring Revenue Model?

What is ERP for Subscription Business? ERP for Subscription Business is a single, cohesive system tailored to address the complexities of subscription-based enterprises operating with recurring revenue models. It assists
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Invoice vs Receipt
October 31, 2023

Invoice vs Receipt : Key Differences You Need to Know

Businesses involve lots of receipts and invoices. Both documents are used to record sales that aid in keeping track of every transaction of the business. It will help any business
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What is an Invoice Number ?
October 30, 2023

What is an Invoice Number ?

Business owners have to face challenges when operating a business. The biggest hurdle is to get paid on time. This can be achieved by having an efficient invoice management system
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Inventory Turnover Ratio
October 26, 2023

Inventory Turnover Ratio – Formula, Examples and Tips

Inventory is a crucial part of any business. It is directly linked to the profit of the company. In a business, it is common that sometimes the product sells off
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What is Inventory Cycle Count?
October 23, 2023

What is Inventory Cycle Count?

Audits are crucial for inventory that runs efficiently. Ensuring the physical inventory to match the recorded data is crucial for maintaining accurate information throughout the entire logistics process. As businesses
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Customer Transaction vs AR Trial balance
October 19, 2023

Difference between Customer Transaction and AR Trial Balance

In the 21st century where India is the fifth largest economy, our service industry is at boost it becomes the responsibility of the management to have an ERP that provides
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