Debit and Credit Explained in Simple Words with Examples
Learn how debits and credits work with simple Indian business examples, including sales, purchases, GST, TDS, bank entries and common mistakes.
Pankaj Malhotra
Guides for Starting a Business
Planning to start a business or just getting started? This section brings together practical guides to help you set up the right processes from day one. Learn how to manage your first customers and bills, maintain important records, handle basic compliance, and avoid mistakes that may become costly or difficult to fix later.
26 articles
Articles
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Accounting Cycle for Small Businesses: Steps from Transaction to Report
Learn eight simple accounting steps, from recording transactions to preparing reports, with practical guidance for new Indian business owners.
Pankaj Malhotra -
Shops and Establishment Registration: Meaning, Need and State-Wise Basics
Understand shops and establishment registration, who may need it, required documents, application steps, and key state-wise rules in India in 2026.
Pankaj Malhotra -
Partnership Firm Registration in India: Process, Deed and Documents
Learn how to register a partnership firm in India, including the deed, state filing process, required documents, PAN, TAN, and cost factors.
Pankaj Malhotra -
Stock Register Meaning, Format and Use for Small Businesses
Learn what a stock register is, the details to include, GST rules, a simple format and practical steps for managing stock in a small Indian business.
Pankaj Malhotra -
LLP Registration in India: Meaning, Process, Documents and Benefits
Understand LLP registration in India, including eligibility, documents, government fees, benefits, limitations and annual compliance requirements.
Pankaj Malhotra -
Cash Book, Bank Book, and Petty Cash Book: Meaning and Simple Formats
Learn cash book, bank book, and petty cash book formats with filled examples and simple steps to track daily cash, bank, and small expenses.
Pankaj Malhotra -
Goods Receipt Note: Meaning, Format and Use
Learn what a goods receipt note is, when to create a GRN, what its format includes, and how it helps manage short, damaged, or partial deliveries.
Pankaj Malhotra -
Bank Reconciliation and Payment Matching: Simple Process for Small Businesses
Understand bank reconciliation, prepare a BRS, and match bank, UPI, and gateway payments with invoices using a simple process for Indian small businesses.
Pankaj Malhotra -
GST Composition Scheme: Meaning, Eligibility, and Pros and Cons
Learn the GST composition scheme limit, eligibility, tax rates, benefits, restrictions, filing rules, and how to decide if it suits your business.
Pankaj Malhotra -
Accounts Receivable Meaning for Small Businesses
Understand accounts receivable meaning in simple words. Learn how receivables, customer outstanding, and money to receive affect cash flow for small businesses in India.
Pankaj Malhotra -
Private Limited Company Registration in India: Beginner's Guide
Learn private limited company registration in India, including eligibility, documents, costs, process, GST, and compliance basics for new founders.
Pankaj Malhotra -
Accounts Payable Meaning for Small Businesses
Learn accounts payable meaning in simple words. Understand how to track supplier payments, payables, GST bills, and amounts owed to vendors in a small business.
Pankaj Malhotra -
Purchase Order Meaning, Format, and Use in Small Business
Learn what a purchase order is, why small businesses should track POs, and what a simple purchase order format should include.
Pankaj Malhotra -
Invoice Format for Small Businesses: Fields, Example, and Template
Learn the right invoice format for Indian small businesses with field-by-field details, GST notes, invoice sample, and a ready-to-use template.
Pankaj Malhotra -
Inventory Management Basics for Small Businesses
Learn the basics of inventory management for small businesses. Understand stock tracking, stock control, reorder levels, stock counts, and simple ways to manage inventory from day one.
Pankaj Malhotra -
Working Capital for Small Businesses: Meaning, Formula, and Examples
Learn what working capital means, how to calculate it with a simple formula, and how small businesses in India can manage day-to-day cash needs better.
Pankaj Malhotra -
Ledger Meaning in Accounting: Simple Guide for Business Owners
Learn ledger meaning in accounting with simple examples of ledger accounts, customer ledgers, and supplier ledgers for small business owners.
Pankaj Malhotra -
Quotation Format for Small Businesses: Fields, Terms and Example
Learn what to include in a business quotation, understand common terms, and use a simple quotation format with an example for Indian small business owners.
Pankaj Malhotra -
Journal Entry Meaning and Examples for Small Businesses
Understand journal entry meaning with simple examples for small businesses. Learn how accounting journal entries record sales, purchases, expenses, loans, and payments.
Pankaj Malhotra -
Proforma Invoice Meaning, Format and When to Use It
Learn what a proforma invoice means, when to use it, how it differs from a tax invoice, and see a simple proforma invoice format for your business.
Pankaj Malhotra -
Trade License for Small Businesses: Meaning, Need and Documents
A trade License is a local permission to run a business from specific premises. Learn who needs it, how trade License registration works, and what documents are usually required.
Pankaj Malhotra -
FSSAI License for Small Food Businesses: Basic Guide
Planning a food business in India? Learn which FSSAI License or registration you may need, documents required, validity rules, annual compliance, and how to apply online.
Pankaj Malhotra -
HSN and SAC Code Guide for Small Business Owners
Learn what HSN code and SAC code mean under GST, how to find the right code, where to use it, and why correct classification matters for invoices and returns.
Pankaj Malhotra -
GST Registration for Small Businesses: Eligibility, Documents, and Process
Learn GST registration eligibility, turnover limits, documents required, online process, composition scheme, and post-registration compliance for small businesses in India.
Pankaj Malhotra -
Udyam Registration for MSMEs: Benefits, Process and Documents
Udyam registration gives eligible MSMEs access to loans, delayed payment protection, government tenders and schemes. Learn who qualifies and how to register.
Pankaj Malhotra