Success and Failure
May 10, 2022
“Success is not final; failure is not fatal: It is the courage to continue that counts.” — Winston S. Churchill Success and Failure – Quote
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“Success is not final; failure is not fatal: It is the courage to continue that counts.” — Winston S. Churchill Success and Failure – Quote
Read More →“Our greatest glory is not in never falling, but in rising every time we fall.” — Confucius Quote of the Day
Read More →The GnuCash application doesn’t have a built-in payroll processing module. However, this is the same scenario as you might encounter when dealing with other commercial accounting /bookkeeping software such as Sage 50 or Quickbooks. In the case of most of the commercial accounting software packages, you might have to pay extra to get the payroll module added. In the case of GnuCash, the general approach to handle payroll is to calculate the payroll taxes and deductions separately using Excel as well as other tools and then use GnuCash for tracking payroll expenses and liabilities.
Read More →In the previous post, we showed how to synchronize the local repository with the remote repository located at Bitbucket cloud. For that we used a single branch called “master” locally and a branch called “origin/master” remotely. This branch can be shared with other users so that they can also clone the repository and do their work in their machines. Once they are done with their updated files, they can stage, commit and push it to remote branch.
Read More →Bitbucket is a version control system. A version control system (VCS) is where programmers can store their code at various stages of development, so that they can restore previous versions easily when there is a requirement. Bitbucket is based on Git, which is one of the most popular VCS. Git was created by Linus Torvalds, who also created the Linux operating system. Bitbucket can be used either as a cloud-based VCS repository or installed as an in-house application within an organization where the development teams can store their source codes.
Read More →Small businesses often might need to purchase things or services from vendors such as online stores, regular retailers or other small businesses. Whenever a purchase happens, it needs to be recorded in the books. So, let us see how to do this using GnuCash. Let us add a vendor and then the purchase bill. Adding vendors is similar to adding customers that was explained in the earlier post. 1] From the top menu, click on Business -> Vendor -> New Vendor…
Read More →Any business needs customers for its continued existence. Major part of the business income is generated from sales to customers. Usually when selling something, an invoice is created in order to document the details of the sale. In this post, let us look at how to add information about customers and sales invoices as well as processing related sales transactions in GnuCash. Adding Customers To start with, collect details about the customer, such as the name, address, phone, etc.
Read More →Cloud vs Desktop version for accounting software ? Nowadays many of the accounting / bookkeeping software are available in both desktop and public cloud versions. In fact, many of them do not provide an option for desktop version. It is a matter of convenience and personal preference as to which version is considered better before being chosen by each person. The cloud providers usually charge a monthly fee or annual fee.
Read More →The accounting equation says that the difference between total assets of a business and its total liabilities equals its net worth (equity). Assets – Liabilities = Equity This can further be expanded when we consider the income and expense. The equity (net worth) increases when receiving an income and decreases when money is spent for something (expense). Assets – Liabilities = Equity + Income – Expenses The above equation has five accounting entities (accounts):
Read More →(I used to have a small business and previously was relying on third party accountants for bookkeeping and accounting. Though I was okay to send most of the financial documents and receipts to the bookkeeper, I was looking for a software that can be used for personal bookkeeping and accounting as well as preparing the year end reports that can be used for tax filing purpose. There are a number of commercial software such as Quickbooks and Sage Pro that can be used for this purpose and I intended to purchase one.
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