A Profit & Loss statement shows whether a business made a profit or loss during a specific period. Learn the P&L format, understand revenue and expenses, and see simple examples of how to calculate gross and net profit.
A general ledger is one of the foundations of accounting. Learn what a general ledger is, how transactions move from journals to ledger accounts, with simple examples, formats, debit and credit entries, and its connection to the trial balance.
The current ratio helps measure whether a business has enough short-term assets to cover its short-term liabilities. Learn the current ratio formula, see simple examples, understand what the result means and how it relates to working capital.
A sales invoice is an important document that records a sale and the amount a customer needs to pay. Learn what a sales invoice contains, see a practical format and GST example, and understand how to create one for your business.
A balance sheet shows what a business owns, what it owes, and the owner's equity at a specific point in time. Learn the standard balance sheet format, understand its components, and see a simple example of how to prepare one.
Bills payable represent amounts a business has formally agreed to pay at a future date. Learn the meaning of bills payable, how they work, journal entries, practical examples, and how they differ from accounts payable.
Accounts receivable and accounts payable are two essential parts of business accounting. Learn what AR and AP mean, how they differ, with practical examples, accounting entries, formulas, processes, and tips for managing business cash flow.
Gross profit shows how much a business earns after subtracting the direct cost of goods or services sold. Learn the gross profit formula, COGS calculation, gross profit margin, examples and how to use these metrics to understand business profitability.
AI is changing how businesses manage accounting, bookkeeping and financial information. Learn how AI accounting software, automation and emerging agentic AI are transforming invoicing, reconciliation, reporting and business finance in 2026.
Excel can work well when a business is small, but growing transactions, GST, inventory, payments and reporting can make spreadsheets difficult to manage. Learn when it's time to switch to accounting software and compare five popular options for Indian businesses.
Manage GST, payroll, invoicing and compliance from one platform.
