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Cash Flow statement reflects the differences in the cash position i.e. the Inflows and outflows of a firm. Whereas, the Fund Flow statement reflects the changes in the financial position of a firm between the two fiscal years. We can say that the Cash Flow statement is an analytical reconciliation statement that reflects the causes responsible for the differences between the opening & closing balances of cash in a stated time-frame. On the other side, Fund Flow Statement is a statement that depicts the upturns and downturns in the financial status or the differences in working capital of the business firm between the two financial years. A company’s financial status can be thoroughly and precisely understood with the help of financial statements - Income statement, Cash Flow Statement, Balance sheet, Fund Flow Statement. Although all the four reflects the financial capacities of a firm and changes in them over a period of time, all are extremely different from eac...

A balance sheet is an overview of the  financial statements of a business at a specific point in time. It includes the total assets and liabilities of a business or organization. Also, it reflects the financial position of a company during the financial year. A balance sheet consists of three entities likewise assets, liabilities and ownership equity. In the balance sheet, the assets are listed category-wise. Assets are of two types-current assets and fixed assets. Alongside the assets, there are liabilities mentioned in the balance sheet. One side of the balance sheet displays assets such as cash, property and inventory whereas another side has reported liabilities such as accounts payable and long-term debt. It is to be noted that there is an array of balance sheet software available in the market. But we should opt for the  Best Gen Balance Sheet Software  with highly considered main features. From another perspective, balance sheets can be observed as Asse...

As per the rules and regulations of Income Tax Act, every taxpayer has to maintain books of accounts as per the provisions of the IT act. But how does it get assured that income is accurately calculated as per this act and the books of accounts is in accordance with the provisions of the act. Here comes the role of Tax Audit which is an examination of your tax return wherein the accuracy of income and deductions is verified. As the name suggests, tax audit is the meticulous examination of your tax return and authentication of the correctness of your income and deductions. Under Section 44AB, Tax Auditing is done by a Chartered Accountant who is certified to practice his profession for full time i..e the CA with full time Certificate of Practice. The tax audit is reported in Form no. 3CA/3CB & Form no. 3CD and it should be submitted before the due dates. Now we shall discuss the circumstances under which these forms are used to furnish the Tax Audit Reports Form No. 3...

There were days when the taxpayers had to file the tax through his/her hands but as the days passed, technology grew and many software were developed. One of that software is ‘Gen CompLaw’ by which you can file the MCA as well as the ROC filing software . There are several ROC filing software in the industry but Gen CompLaw software is one of the best software in the market. What is Gen CompLaw Software? Gen Company Law is among the leading software which deals in taxation. With the help of this software, we can do the following things- Complete ROC/MCA Filing XBRL Resolutions Various MIS Reports AOC-4, MGT-7, MGT-7A, ADT-1 LLP (3,8,11,12,15) E-filing Form CHG-1, 4, 6, 8 Forms DIR-3 and DIR-3 KYC Web Form e-Filing of MCA V3 Forms DIR 3, 5, 6, 11 This software comes with 'XBRL' as well as 'without XBRL'. SAG Infotech Pvt. Ltd. offers the Gen CompLaw with XBRL at the installation price of INR 20,000 while the yearly updation is INR 8,000. It offers quick XB...

The companies in today's era have a lot of work to execute, out of which one of the most vital aspects is to keep the track of each and every employee of the firm. In earlier days, the calculation and approval of leaves were maintained manually, which was very time-consuming. This has stimulated technical guys to deliver a software system for the same, and as a result, Payroll came into existence. Payroll is a well-built application, which holds the details of employees in a managed form, consisting of salary, leaves, deductions, wages, and other similar stuff. Payroll is an important concept for financial proceedings, as it affects the net income of the companies and firms. It is the deciding factor, which makes sure that the employees are receiving the right amount at the right time after analyzing all the fields of payroll . Hence, to execute so, the requirement of good software is a must. Among the varied range of payroll software, SAG Infotech offers Gen payroll software ful...

Here, we introduce Genius as a helpful tax compliance software for chartered accountants in India. As we know the taxation system is vast with several taxes levied by the Indian government in the form of income tax, TDS, wealth tax, etc. So, instead of e-filing that many taxes, the need for software arises which can e-file several taxes at once. SAG Infotech's developer team always gives new updates to the taxation industry. Genius Tax Software It is a complete package with facilities like Gen BAL, Gen IT, Gen CMA, Gen Form Manager, Gen e-TDS and AIR. Also, It provides maintenance aids of the database containing information of clients such as their address and telephone directory, partner’s details and signatory details. With Genius, one can also grow with your business as well.  Genius is an unlimited tax return filing software for clients in such a way that one can backup, Restore data set passwords, etc. While the help option gives a solution for any of your problems. Anoth...

A payroll system is a crucial software adhere to by businesses. It is important to know that a business performs constant and regular financial operations to make timely payments to its employees. In case any company fails to pay salaries on time, or encounters useless delays, develops negative thoughts among employees about the financial stability of the company and the morale of the company’s manpower also get down. Not even this, the fact that should be in one's mind is, the payroll management software has been made compulsory for businesses by law. What is HR Payroll Management? Payroll management can be understood as the process being used for the administration of the company by maintaining the financial records of the employees. The records may contain the details of the salaries, incentives, bonuses, deductions, and net pay given to the employees. Every employer must keep and maintain these records as prescribed by the law. In case the company does not comply with...

Gen IT is one of the income tax software created by professionals from SAG Infotech Pvt. Ltd. This software helps to compute Income Tax, Interest Calculations, Advance and Self Assessment Tax. The software is created with high quality-perfection to prepare returns. It also provides e-filing to upload returns with the help of the software. This software is proficient in calculating Income Tax, Advance, Interest Calculations, and Self Assessment Tax. The quality of the software is very high as the returns are prepared by it. The software provides the facility to file and upload returns. Also, there are simple steps to download the free download Gen IT software for the trial version. To complete the processes, the Gen Income Tax returns filing software has 2 different sections which include - Client Manager, Income Tax, Billing, AIR, Calculator, Backup/Restore, Password and Printer Settings, Bulk SMS/E-Mail and Help. These operations are explained briefly below- 1. Client Mana...

After the introduction of the Companies Amendment Act, 2017 and the Companies Amendment Ordinance Act, 2018, drastic changes have been observed in the provisions related to the filing of documents and e-forms with the Registrar for companies. Earlier, a time period of 270 days has been given to companies to file any document with the Registrar (ROC) by paying additional fees, as per section 403 of the Companies Act 2013. However, this section has been recently amended, and now companies have to file statuary documents within the time mentioned in the relevant section of the amended Companies Act. For instance, AOC 4 form must be filed within 30 days of AGM. Although after the expiry of the given period in the relevant section, a company can file a particular document by paying an additional fee and penalty in case the same receives a showcase notice from the Registrar: Here are the consequences of non-filing or late filing of any statutory document with the Registr...

Who is a Registrar & Share Transfer Agent (RTA)? RTA is an authorized trust or entity which handles the responsibility of maintaining detailed records of all the investor transactions at mutual fund houses or other financial institutions for their convenience. Mutual fund houses are responsible for processing the investor transactions wherein RTA manages all the data generated under such transactions as a part of their RTA Services. SAG RTA , CAMS, and Karvy are some of the leading RTAs in India that provide top-quality R egistrar & T ransfer A gent S ervices to clients, i.e., investors, mutual fund houses, distributors, etc . through their country-wide network. From the investor's point of view, RTAs serve as a single-window solution by assisting them in the share certificate transfer process (buying or selling records), security dematerialization via NSDL and CDSL depository, email processing, name & address update at mutual fund houses, dividend payout th...

Considering the management process of payroll, it is required to find solutions that streamlined the process. A business can look out for payroll management or can implement payroll software to fulfill the requirements of their payroll processes. These measures not only ensure business compliance with legal and tax requirements but also aids in simplifying payment manner to employees. Here is a list of reasons which explains the need of having payroll software for your business: Saves Time: The management of federal taxes including employment taxes is a time-consuming activity. On average one in every three businesses spends 80 hours performing such exercises which translates into full-time working for almost two weeks. Well, one can consider the payroll calculation task as simple as the addition of hours worked with the employee's rate. However, it turns complicated when factors such as vacation leave, overtime, and other benefits are also involved in the calculation. In add...