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Cost Accounting: Meaning, Types & Examples

Razorpay

What is Cost Accounting Cost accounting is a form of managerial accounting that analyses how much money is being used in production. The objective of cost accounting is to provide management with information that can be used for decision-making, cost control, and performance evaluation.

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Current Accounts: Understanding and Maximising Business Banking

Razorpay

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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Statement of Cash Flow

Wall Street Mojo

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.

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Unified Payments Interface (UPI): Meaning and How it Works?

Razorpay

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. It enables individuals to make online purchases, pay utility bills, and shop at brick-and-mortar stores by scanning QR codes.

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What Is an Electronic Payment System & How Does It Work?

Razorpay

Besides, electronic payment systems have revolutionized the way we handle our finances, making transactions quicker, more efficient, and accessible to anyone with a bank account. NEFT is typically used for smaller transactions, while RTGS is reserved for larger, time-sensitive transfers.

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What is the Difference Between Invoice and Bill?

Razorpay

Knowing the difference between an invoice and a bill helps business owners and financial professionals streamline their accounting processes and avoid confusion. Maintaining Records Invoices provide a detailed account of sales transactions, helping you track your income and manage financial records accurately.

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Mastering Purpose Codes with Razorpay: Streamlining International Payments

Razorpay

Trade in Goods Customs authorities mandate a purpose code for categorizing transactions during the importation or exportation of goods. This code assists in determining tariff rates and may be utilized for statistical analysis purposes. Navigate to Account & Settings, then click on International Payments under Payment Methods.

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