5 basic accounting disciplines for startups.. Credit to Yourstory

MyMuneemji did a guest blog for one of the renowned blogs for entrepreneurship called YourStory.in.
Below are the excerpts of the blog. http://
bit.ly/1gRSmws

What if accounting become live compass to the business?

It's like finding a gold bar from a junk box which we never thought was useful.

If entrepreneur perceived the accounting to be a live compass instead of a postmortem of the business, life would change drastically for businessmen and the way they perceive accounting to be.

They will start working hard to keep this live and track it daily. It will become like a dart game for them which one plays when frustrated from the regular work. One will like to check what's going on in my business? Is the hard-work right on target? Does my business have enough fuel (cash) to drive it to a distance where I want to reach before I get the next fuel station. Is the spread (growth rate) correct to control when need be and at the same time to reach in time. 

This can convert business into a game of numbers like any other game where we have a clear cut board showing where we are and what are we chasing to win. 

The enjoyment multiplies and so the business!!

Points to act on:

1. Make your accounts upto date on daily basis

2. Track all your accounts on weekly basis

3. Understand that cash is king and track it hard

4. Choose a right accountant

Believe me knowing something is almost like achieving. Just start knowing more to be winners. Accounting is way ahead!! 

myMuneemji - an Accounting revolution !!!!

|| श्री || 

In the mid sixties, White and Green revolution took place in India making us self sufficient in the field of dairy and agriculture.  Likewise there is a need to do an accounting revolution to make accounting simple and hassle free for common man and entrepreneurs. While there had been substantial progress in the field of Information Technology from the manual age, the key problem today is the lack of an ecosystem, which provides accounting as a solution and not just as a product or service!!!  Accounting and taxation still remain mystery topics and the knowledge is in the handful of few. With increasing compliance, it is important that entrepreneurs and individuals get a proper book keeping and tax solution, so that they can focus on the business and not worry on the compliance matters at any point during the year. myMuneemji proposes to be the One Stop Shop Solution combining the latest technology  and processes , backed up by best in class accounting professionals.

In our country, many people are non-compliant not because they don’t want to pay tax, but because they feel the pinch of time and effort to handle these compliances. Today, there are variety of taxes both at a state and central level, which are applicable with different periodicity, rates and procedures. Complication in compliance is topped up by lack of skilled resources such as accountants and consultants to handle these procedures in systematic and timely manner.

On the other hand, India is yet a rural economy with majority of population concentrated in the tier two and three cities as well as villages which is scarcely literate. This population is ignorant of the compliances and disconnected from the happenings in these laws.

The only way to build in governance in this country is the Internet bases tools which can reach farthest of the places at a time with same amount of accuracy 24 X 7.

We are myMuneemji, are working towards taking accounting including all kinds of tax filings online with simplicity and service. The mission to make “Accounting for everyone and everywhere”.

Features like Document Management, Sms / email alerts,help desk and dashboards help make this a unique combination of product with service which creates transparency with complete accountability on both the sides.

Along accounting data entry options, myMuneemji endeavours that the best of the tax and legal advisors could be part of our panel who feel like joining this mission and helping their fellow countrymen, with the best in class advice. All this will be reaching the farthest and remotest places through the internet connection and sms.

Life with myMuneemji will be joyous as everything will be accounted for by everyone with effortless ease. People will not only file their taxes in time but even the smallest of the businessmen will also get their MIS (Management Information System). Along with compliance, this is also targeted to add value to the businesses as well as personal finance in some way. Having said this, myMuneemji is a product backed by a service engine, to handhold the customers and encourage them to adhere to the compliance.