Razorpay

MARCH 27, 2024

What is a Checking Account? A checking account is a type of bank account that allows you to deposit and withdraw money, write checks or use a debit card to make purchases or pay bills. Generally, account holders use these accounts on a short-term basis for paying daily expenses like food bills.

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Razorpay

MAY 30, 2023

What is Cost Accounting Cost accounting is a form of managerial accounting that analyses how much money is being used in production. It analyses the different kinds of costs that a business incurs for ways to make production as cost-efficient as possible.

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Accountant Profitability Business Utilities 52

Razorpay

JULY 11, 2023

What is a Current Account? A current account is a kind of deposit account for individuals and organizations that deal with a huge number of transactions. The scale of these transactions is too large for a regular savings account. Read more: What is a Current Account? What is RazorpayX?

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Accountant Banking Bank Business 40

Sun Acquisitions

FEBRUARY 23, 2024

Financial transactions, whether buying a business , selling a property, or investing in a venture, can be complex and riddled with potential pitfalls. In these intricate financial landscapes, professional guidance becomes invaluable. Valuation: Accountants help sellers determine the fair market value of their assets.

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Razorpay

MAY 6, 2024

Payment processing is the backbone of financial transactions in today’s digital world. Understanding its fundamentals is essential for businesses and consumers alike. Payment processing meaning refers to the series of actions triggered by businesses during digital payment transactions.

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Razorpay

JANUARY 17, 2024

With a RazorpayX Business Banking+ Account, you can add beneficiaries and make payouts with no cooling period. Get Your Own Business Banking+ Account! A beneficiary is a person or organization that benefits from a will , trust , retirement plan , insurance policy , ann uity , financial transaction or another arrangement.

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Wall Street Mojo

JANUARY 17, 2024

Statement of Cash Flows Definition A Statement of Cash Flow is an accounting document that tracks the incoming and outgoing cash and cash equivalents from a business. It helps identify the availability of liquid funds with the organization in a particular accounting period. read more arising from each activity.

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Peak Frameworks

MAY 23, 2023

Bookkeepers are the backbone of an organization's financial health, diligently tracking every financial transaction to ensure accuracy and transparency. They play a pivotal role in not just recording but also making sense of the company's financial data. Recording financial transactions.

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Razorpay

SEPTEMBER 22, 2023

The Unified Payments Interface (UPI) is a game-changer technology for digital payments, allowing users to make instant payments, check account balances, and manage multiple bank accounts in a single app. The purpose of UPI The primary purpose of UPI is to provide a unified and simplified platform for facilitating digital transactions.

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Razorpay

SEPTEMBER 27, 2023

billion transactions were carried out through UPI in India. The future too looks extremely bullish – UPI is expected to account for 90 percent share of retail digital transactions volume in the next five years, up from 75.6 Accepting payments via UPI should be as seamless as the transaction itself. India loves UPI.

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Razorpay

JULY 2, 2024

Dedicated to providing outsourced cloud services, Satrang caters to a diverse clientele, ranging from small and mid-sized businesses to large IT vendors. Addressing this challenge involved simplifying international financial transactions, making costs clear for clients, and improving transparency in cross-border fund transfers.

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Razorpay

MAY 27, 2024

It is a centralized system that allows customers or businesses to carry out transactions from any branch rather than only from the branch where the account was opened. With a robust CBS, banks can manage various account activities like deposits or withdrawals, loans, payments, information like account balance and more.

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Banking Bank Accountant Business 52

Business Standard - FInance

MAY 31, 2023

Banks, foreign exchange dealers and other reporting entities have 'couple of days more' to report high-value transactions done by their clients in 2022-23 by filing SFT returns, the I-T department has said. The last date for filing statement of financial transactions (SFT) for 2022-23 fiscal was May 31.

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Razorpay

MAY 23, 2023

Businesses have financial needs, too. Regular retail banks provide financial services to individuals but are not equipped to service businesses. Corporate banking provides businesses financial services like account holding, loans, capital, vendor management, and more.

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Razorpay

JUNE 8, 2023

A bank is any financial institution that helps people and businesses store, invest and borrow money. There are many types of specialized banks that provide specific services to certain members of the economy, like businesses, startups, individuals, and more. Businesses store money in checking accounts or current accounts.

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IBG

FEBRUARY 6, 2024

In a business sale, forewarned is forearmed. An informed seller understands, and can be prepared for, the likelihood that the net value of their business at sale will be impacted by normal costs of a transaction and a wide variety of contractual adjustments. Holdbacks are common elements of a business sale.

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Razorpay

JULY 29, 2023

If you’ve ever transferred money online, changed your ATM Pin on an app, or gotten an email copy of your account statement, you’ve enjoyed the benefits of e-banking. E-banking/Electronic banking allows us to perform financial transactions and other operations online seamlessly. You swipe your card and ping!

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Razorpay

DECEMBER 20, 2023

In today’s fast-paced digital world, where transactions are increasingly becoming digital, payment reconciliation has emerged as a critical process for businesses. To illustrate the significance of payment reconciliation, let’s take the example of India, a country experiencing a rapid surge in digital transactions.

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Razorpay

DECEMBER 20, 2023

Online payments play an essential role in today’s financial world. They define how individuals and businesses exchange money for products and services. From the ancient barter system to the modern digital era, payments have evolved significantly, offering a wide array of options to facilitate transactions.

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Wall Street Mojo

JANUARY 16, 2024

A reconciliation statement refers to the banking summary prepared by the banks to list down the bank’s account balances and compare the same with their internal records. Preparing reconciliation statements is a significant task for any company as it helps them manage the business finances well.

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Razorpay

NOVEMBER 30, 2023

An electronic payment system, often referred to as e-payment, is a digital solution that enables customers to make payments and conduct electronic or online transactions without the need for physical cash or cheques. It’s the technological bridge that connects individuals and businesses to a world of financial possibilities.

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Razorpay

DECEMBER 5, 2023

As businesses grow, they face exciting opportunities along with new challenges, especially in areas like payment tracking and reconciliation. Managing these complexities becomes increasingly challenging as transaction volumes rise from dozens to thousands, particularly when dealing with multiple payment partners.

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Razorpay

JULY 27, 2023

Similarly, businesses with large, complex financial needs go to the country’s biggest banks. Let’s take an in-depth look at what an investment bank is, and how businesses benefit from them. Here’s more detail into the services that investment banks provide to businesses. What is Investment Banking?

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Razorpay

OCTOBER 27, 2023

The internet has revolutionised the way businesses collect customer payments. As a business owner, you must strive to deliver an excellent payment experience to your customers when they make payments through different online payment channels. To avoid this, you must use a secure payment system for your business.

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Razorpay

SEPTEMBER 22, 2024

The finance team then records this in accounts payable and pays the vendor. Processing invoices on time is a critical factor in maintaining a smooth flow of raw materials and services for your business operations. STEP 2: Manual data entry Information is manually entered into the accounting system.

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Razorpay

APRIL 10, 2024

Every payment requires the assignment of a purpose code, distinguishing between import and export transactions. Personal Remittances When transferring money to another country for personal purposes, such as supporting family members, a purpose code denotes the transaction’s nature. Where are Purpose Codes Used?

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Sun Acquisitions

FEBRUARY 20, 2024

Seller financing can be an attractive option for acquiring a business or real estate property. However, like any financial transaction, it comes with its own set of risks and complexities. This will help you assess the financial health of the business or property you’re acquiring.

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Wall Street Mojo

JANUARY 15, 2024

read more , and other requirements to express his opinion on the objective and unbiased view of the company’s financial statements during the period under consideration. Inspection involves examining documents, records, and tangible assets, providing tangible proof of financial transactions.

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Razorpay

OCTOBER 3, 2024

Payments operations are processes for managing a business’s entire lifecycle of money movement. This includes initiating and processing payments, fraud detection, compliance, handling disputes, resolving issues, managing international transactions, reconciliation, and accounting.

Bank 52

Bank Banking Business Accountant 52

Razorpay

OCTOBER 8, 2024

Invoice management is a critical accounting function that involves receiving, processing, and tracking vendor invoices. It serves as a link between a company’s purchasing activities and its financial records, helping it maintain accurate accounting ledgers and timely payments to suppliers. What is Invoice Management?

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Razorpay

OCTOBER 10, 2024

A credit note is a document issued by a seller to a buyer to notify them of a credit applied to their account, often due to returns, overcharges, or discounts. 3) Next Steps for Both Buyer and Seller Seller: They update their accounting records to reflect a decrease in accounts receivable by ₹5,000. What Is a Credit Note?

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IT Accountant Management Business 40

Peak Frameworks

SEPTEMBER 12, 2023

White-collar crime refers to financially motivated, non-violent crimes committed by individuals, typically in business and government. White Collar Crimes: A Closer Look Given their sophisticated nature, white-collar crimes often overlap with legitimate business operations. Let's take a closer look at the most prominent types.

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Accountant Finance Finance Investors 52

Razorpay

AUGUST 6, 2024

Knowing the difference between an invoice and a bill helps business owners and financial professionals streamline their accounting processes and avoid confusion. An invoice is a commercial document issued by a seller to a buyer that itemises and records a transaction between the two parties.

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Razorpay

MARCH 11, 2024

Import payments involve the financial transactions that take place when a country or entity acquires goods, services, or assets from foreign origins. Here are some common methods of Business-to-Business import payments, which are very similar to that of export payments. What are Import payments?

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Razorpay

SEPTEMBER 17, 2023

While sending and receiving payments online has become a part of life in the digital age, businesses are actively looking for ways to simplify seamless payments by utilising a variety of digital payment solutions that boost customer satisfaction through seamless checkout. Bank Approval: Your bank reviews the request and checks your account.

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Bank Banking Financial Institution Accountant 52

Razorpay

NOVEMBER 19, 2024

NACH mandate cancellation is an important process that every account holder should understand. The system serves multiple purposes payments of subsidies, pensions, salaries, dividends, and regular consumer transactions such as bills, EMIs, and loan payments. The mandate is a formal authorisation given to banks and institutions.

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Accountant Banking Bank Electronics 40

Razorpay

AUGUST 20, 2024

By harnessing AI and machine learning, these systems optimize the entire invoice lifecycle, reducing errors, accelerating processing times, and allowing accounts payable teams to focus on strategic initiatives. Benefits of Automated Invoice Processing for Businesses 1. Related Read: What is an Invoice Number and How to Generate One?

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