Accounts NextGen

The pandemic has changed the entire working sector of the world. The economic crisis has led to less demand for products, and thousands of employees have lost their jobs. Nations have imposed the lockdown in their entire states to mitigate the spread, and these restrictions have made the IT firm employees work from their homes. In short, all the pre-calculations of 2020 have now just become speculation.  The half-year has passed in the battle of Covid-19, but those working also need to think about the tax returns and reimbursement from the company or consult a  tax accountant . While working at home, we sometimes wonder how much we can claim on tax. But don’t worry; you have landed on the right page. We will sort out your all hazy thoughts about reimbursement. And also tell you about the best ways to calculate your tax deductions-  Home office deduction Due to the pandemic crisis, a massive number of employees is now working from home, and there is no comple...

Accounting and bookkeeping are the two most essential functional aspects of every business organisation. However, in simple terms, bookkeeping refers to financial transaction record management. In contrast, accounting refers to the classification, interpreting, reporting, analysing, and keeping a track record of financial data services. Although both terms may look integrated or have the same functional role; still, they have some dissimilarities too. Besides that, both terms require to deal with the financial records and basic accounting knowledge that can be generated by using the financial transaction. On the same sides, both the processes serve some different jobs and offer some valuable sets for business vendors. So, let’s know about some valuable differences between both accounting and bookkeeping. The Major Differences between Accounting and Bookkeeping One of the major misconceptions about accounting and bookkeeping is that people take them as the profession. Alth...