Archive for the ‘Finance’

  • Journal Entry to Final Balance Sheet>
    Journal Entry to Final Balance Sheet
    Even through the entire accounting system is now totally IT based, the basics followed are the same.  Many accounting packages have come out with sophisticated features to manage the entire financial accounts of a company.  Accounting packages like Tally, or any other software is designed with basic accounting principles of debit and credit, journal entry, ledger posting, and final profit and loss account and balance sheet. Financial accounting and other finance details start with the initial journal entries which follow the common rule of debit and credit where receiver account is debited and outgoing account is credited.  For example if you make a credit purchase from a trader, the purchase account is debited and the party’s account is credited.  After purchase, the process of production  [...]
    at March 12th, 2013 at 12:03 am
  • Causes For Delay In Tax Refunds>
    Causes For Delay In Tax Refunds
    It is a known fact that collecting your tax refunds is a nightmare all tax payers have to face, and it has been found that there are many reasons for the delay in getting the tax refunds and some of them are listed below- If the tax returns filed by you have too many tax deducted at source entries, your assessment takes a longer time to process, and hence there is a delay in collecting tax refunds. You must furnish proper your proper bank account details and MICR code with your tax returns and if error is found in your bank account details your tax refunds are bound to be delayed. If the tax deducted at source details provided by you in the form does not match with the data of the tax department, your refund may be put on hold, till all the queries are replied and complied. If you have provided  [...]
    at August 3rd, 2012 at 03:08 am
  • Critical guidelines before you apply personal loan>
    Critical guidelines before you apply personal loan
    Personal loan is a loan provided by financial institutions or money lenders for undefined purposes; it could be for anything. Most personal loan borrowers use the loan money to fulfil their general financial necessities. And to help customers accomplish these needs banks or financial institutions in the present day have variety of personal loans to offer: home loan, car loan, secured personal loan, unsecured personal loan, short-term personal loan, fast cash loan and many more. You can decide for best loan services depending on suitability, your current situation and most importantly your capability to repay. Gone are the days when borrowing money from banks was considered complicated, there was lot of documentation, validation, reference check, verification etc. However, now you can get personal  [...]
    at March 6th, 2012 at 04:03 am
  • Just-in-time production model fails in time of troubles>
    Just-in-time production model fails in time of troubles
    Industrial methods for manufacturing keep changing with the advancement in technology. The just-in-time industrial methods gained prominence in Japan during the period of 1970 to 1980. This kind of industrial method in manufacturing companies opened ways to earn greater profits by reducing the cost of raw materials. The new just-in-time production model initiated by Japan gradually become an acceptable model for every manufacturing firm since the use of computer applications and network of transportation helped to run factories within budgeted raw materials. The just-in-time production model helped to make the supply chain model of every company get orchestrated in various fragments. And it is ensured that each fragment reaches its destination just-in-time to complete the subsequent step of  [...]
    at March 23rd, 2011 at 12:03 am
  • Personal financial planning: to do or not to do>
    Personal financial planning: to do or not to do
    Now don’t get me wrong. I know fully well that personal financial planning is something that we all must do. My only question is whether I should do it myself or leave it to some expert on behalf of me. The thing is that I don’t trust most of these financial planners. Most of them seem to have their own vested interests and it becomes very hard to trust someone when they become more of a broker than an adviser. Over time, many financial advisers have tried to talk to me about signing up with them, but I think this requires trust more than anything else and none of them seem particularly trustworthy. So all I end up saying is “thanks, but no thanks” as I stonewall all of them into submission. You see, it’s just not complicated in the slightest to do my own personal financial  [...]
    at December 6th, 2010 at 05:12 am
  • Personal Financial Planning Made Simpler>
    Personal Financial Planning Made Simpler
    Why do you want to make your personal financial planning process difficult, if it can be done in a simpler way? I am about to mention few tips to manage your money efficiently, which may sound over-simplified and repetitive. The fact is, however, these tips are always simple. The only things you need to adopt are consistency and discipline. 1.    Save Some Money Every Month, and Invest Most people, as soon as they receive their paycheck, don’t even plan how to utilize the money. They simply keep spending. There is no harm even if you continue the habit to spending carelessly. Just save some amount every month and invest in products that would reap benefits over time. This is important for personal financial planning. 2.    Have a Budget Simply knowing where all your money goes every  [...]
    at June 4th, 2010 at 04:06 am
  • Pay Bills Online to Get Rid of the Chaos>
    Pay Bills Online to Get Rid of the Chaos
    I simply hate paying bills. Along with giving away my money, thinking about writing numerous checks makes me feel sad. And it’s not only me. I don’t think paying bills is one of the most exciting things in life for any one of us. Few years ago, one of my friends asked me to pay bills online. Though it was a convenient option, I was scared about payment scams spread all over the web. However, later I found most creditors offer this service, through a secure website. I tried once, and it worked out well. That’s the solution I was looking for. I just wanted to get rid of my bills without involving in a messy process. It’s been few months now since I first paid my bill online. In the following months, I learned few benefits you enjoy when you pay bills online. One of the most useful advantages,  [...]
    at May 26th, 2010 at 02:05 am
  • Maintain a Reward Checking Account and Get Huge Amounts of Interest on Your Money>
    Maintain a Reward Checking Account and Get Huge Amounts of Interest on Your Money
    Banks offer about 3 %-5 % interest on your checking account if you maintain it under their terms and conditions as the bank is going to benefit from it. Reward checking accounts are on the rise these days and you find about 600 credit unions and banks asking their clients to opt for them. So what are the requisite criteria for you to open and maintain a reward checking account? Firstly, you’ve got to use the direct deposit mode of transactions. Secondly, you’ve got to make e-statements. Thirdly, you need to use your debit card at least a dozen times. If you don’t do this, interest on your account balance is going to be withheld for that month. Otherwise, these are the benefits that you get. You are going to get about 4 % interest on an average, on the initial $25,000 and 1% interest on  [...]
    at February 11th, 2010 at 01:02 am
  • No More Unexplained Fees by Wireless Service Providers – FCC Questions Google and Others on Early Termination Fees!>
    No More Unexplained Fees by Wireless Service Providers – FCC Questions Google and Others on Early Termination Fees!
    Wireless service providers have been taking customers on a ride by imposing unexplained fees on them! But not anymore!  I’m glad that regulatory bodies have woken up to the unfair practices of service providers and have started questioning their justness. The Federal Communications Commission questions Google and wireless service providers on the early termination fees that they are imposing on clients of wireless services. FCC enquires the leading wireless service providers, namely, AT &T, Verizon Wireless, Sprint and T-Mobile about the early termination fees and if they should be charged at all. The FCC says that there is no definite framework for service providers to charge early termination fees on their customers and such moves were questionable by the FCC. This was the reason they  [...]
    at February 8th, 2010 at 01:02 am
  • The Plus and Minus of Social Lending- The New Age Financing System>
    The Plus and Minus of Social Lending- The New Age Financing System
    With credit card companies lowering credit limits and increasing interest rates more and more people are turning towards social lending service agencies for financial aid. Social lending organizations are websites that help you in getting loans for personal purposes. You might want to refinance your credit card debt or you might want to finance the birth of your first child or by a new house- social lending websites come to your rescue. The interest rates are just about 7% -8 % which turns out to be less than 10%-15% less than those of credit card lending.  The service charges are also much lower than credit card lending. The reason being, social lending is done online and the lending organization does not have to spend huge amounts of money on brick and mortar offices. With so many advantages,  [...]
    at January 18th, 2010 at 01:01 am