Why it is necessary to use SAP in an industry? & What is the
difference from other advance accounts software like Tally
ERP 9?
What is the importance of using GAAP for best management
decission or why GAAP using by Top Management?
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Answer / Yashvir Singh
SAP is a comprehensive enterprise resource planning (ERP) system used to manage business operations and customer relations. It's necessary because it provides real-time data, automates processes, and integrates various functions such as finance, HR, supply chain, and more. Unlike Tally ERP 9, which is primarily an accounting software, SAP has a broader scope and can handle a wide range of business operations. GAAP (Generally Accepted Accounting Principles) is important for best management decisions because it provides a standardized framework for financial reporting, ensuring consistency and transparency in financial statements.
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Actually we had Posted P.V.C bills to Indian Railway the total bills amount is Rs.10,00,000/-, and government had passed only Rs. 8,00,000/- and gov. had said that there are no more P.V.c bills are lying outstanding in their a/c, so for now are claiming Rs. 2,00,000/- as loss on sale, i m totally confused what would be the impact on the Profit and loss a/c , and in which group it will come,if I do a entry of:- dr. Central sale @12.5% a/c Rs.2,00,00/- Cr. Loss on sale a/c Rs.2,00,000/- or Will i adjust the Cst@12.5% on Pricipal Value, or will i pass on the entry on total amount i.e Rs.2,00,00/- Plz guide,me soon.
we are run construction (residence & commercial)last year we are sale 4 flats (16 flats apartment) registration value example:10.75 * 4 = 43.00 but we are collected from customers 45.00 total so 45 - 43 = 2.00 this amount we are booking additional agreements work amount (income)because we are standing sub contractors expendeture side 2.00, we are service tax paid or not ?
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