All Posts in "Month: January 2025"

What is the Process for Generating an E-Way Bill?

In India, you are required to generate e-way bills in the prescribed EWB-01 format when the value of transported goods exceeds Rs. 50,000. You can easily generate such e-way bills using the E-Way Bill (EWB) portal. It is an online platform that allows you to:

  • Generate single or consolidated e-way bills
  • Update the vehicle number if the mode of transportation changes
  • Cancel previously generated e-way bills

Alternatively, you can also create the e-way bills by sending specific SMS codes or through e-Invoicing (bills are auto-generated using e-Invoice systems). 

Still confused and want to know more? In this article, let’s understand all these three modes of generating e-way bills in detail. 

Some pre-requisites valid for any method of generation

Before generating an e-way bill, you must meet the following requirements:

  • Registration on the EWB portal

You must be registered on the EWB portal. Without registration, you cannot access the system to … READ MORE ...

Jonathan Tucker by — January 31, 2025 in Online Services
The Pros and Cons of Long-Term vs. Short-Term Fixed Deposits

Fixed deposits (FDs) have been a cornerstone of financial planning for Indian investors, offering a safe and reliable way to grow money. With guaranteed returns and flexible tenures, FDs cater to a variety of financial needs, from building an emergency fund to planning for retirement. However, one crucial decision when investing in FDs is choosing between long-term and short-term deposits. Each option has its own advantages and disadvantages, depending on your financial goals, risk appetite, and liquidity needs. Tools like an FD rate calculator can help you compare returns and make informed decisions. This article explores the pros and cons of long-term versus short-term FDs, offering insights to help you choose the right option.

What are fixed deposits?

Fixed deposits are investment instruments where you deposit a lump sum with a bank or financial institution for a fixed tenure. In return, you earn a fixed interest rate, which remains unaffected … READ MORE ...

Jonathan Tucker by — January 28, 2025 in Financial Statements
Revolutionizing Remittances: How Blockchain Technology Impacts Cross-Border Peer-to-Peer Payments

Cross-border peer-to-peer (P2P) payments, often synonymous with remittances, have long been a cornerstone of global economies, enabling individuals to send money to family and friends across international borders. However, this vital process has historically been plagued by inefficiencies: high transaction fees, slow processing times, opaque exchange rates, and a lack of accessibility for unbanked populations. Enter blockchain technology, a disruptive force poised to fundamentally transform how cross-border P2P payments are conducted.

Blockchain, the decentralized and immutable ledger system famously underpinning cryptocurrencies like Bitcoin, offers a compelling solution to many of the long-standing challenges in the remittance landscape. Its inherent characteristics directly address the pain points of traditional money transfer systems, paving the way for a more efficient, equitable, and accessible future for global payments.

The Traditional Landscape: A Web of Intermediaries

Before delving into blockchain’s impact, it’s crucial to understand the traditional remittance ecosystem. When an individual sends money internationally … READ MORE ...

Jonathan Tucker by — January 18, 2025 in Financial Technology
The Recipe for Profit: How to Manage Food Cost Percentage in a New Restaurant

Launching a new restaurant is an exhilarating venture, but as any seasoned restaurateur will tell you, the devil is in the details—and the biggest devil of all is often food cost. Food cost percentage, a critical metric that measures how much of your revenue is spent on ingredients, can be the difference between a thriving business and one that shutters its doors. For a new restaurant, mastering this metric from day one is not just a good idea—it’s essential.

What is Food Cost Percentage?

At its core, food cost percentage is a simple calculation:

Food Cost Percentage=(Total Food SalesTotal Cost of Goods Sold (COGS)​)×100

  • Total Cost of Goods Sold (COGS): This isn’t just what you bought in a given period. It’s the value of the ingredients you actually used. The formula is: Beginning Inventory + Purchases – Ending Inventory.
  • Total Food Sales: The total revenue generated from selling your food items.

The ideal food cost percentage for most restaurants … READ MORE ...

Jonathan Tucker by — January 9, 2025 in Culinary Business Management