As per user suggestions last month there had been few changes in setting preferences for multi currency options . Numia had only ten settings for setting currencies for handling the bookkeeping. We had a TO DO in future for adding those currency options but anyway it is added now. Now you can add any type of currency while setting your preferences.
And also there had been few suggestions regarding selecting the number format as per user defined in generating reports. Besides, changes has been made by which user can set in any number format he/she needs.
Setting Preferences for currency & number formats
Managing Budget with Numia
BUDGET is nothing but a financial plan to manage the spending and saving of money.It lists all the revenues and expenditures for a period of time in advance. Budget is one of the fundamentals to run any kind of business , government or a family.
There could be a budget for specific purposes, e.g., for the bank, for the head office, optimistic budget, realistic budget, pessimistic budget, etc. Departmental Budgets such as Marketing Budget, Finance Budget, Sales budget , Production budget , Cash Flow/Cash budget , Project budget , Revenue budget , Expenditure budget can also be created.
A budget may be prepared simply using Ledgers , or on computer using a spreadsheet program like Excel, or with a Online Accounting Software like Numia . Time periods can be alloted for the budgets depending on our requirements such as monthly or yearly budgets. Preparing Budgets with our online software Numia.biz is much easier task when compared to other resources.
We provide Multiple Budgeting options along with the time period limit as Month , Quarter-year and Year
This is the create budget form of numia.biz for monthly budgeting.
This is the form for quarter-year budgeting.
This is the form for Yearly Budgeting.
Make your budget and save your precious time being wasted.
Double Entry Bookkeeping Method – An accurate recording of transaction
Accounting should be concentrated, as small errors can have huge impacts. To resolve this the concept of Double entry bookkeeping is used where single transaction will always have impact in at least two different accounts. It serves as a kind of error detection; i.e. "if at any point, the sum of debits do not equal to the corresponding sum of credits" , an error has occurred.
Numia, use this method of Double entry bookkeeping to record transactions, i.e. one entry as a debit in one account and the other entry as a credit in another account. These two entries needs to balance the accounting equation, thus helps to have an error free transaction recording process.
Numia, use this method of Double entry bookkeeping to record transactions, i.e. one entry as a debit in one account and the other entry as a credit in another account. These two entries needs to balance the accounting equation, thus helps to have an error free transaction recording process.
Find out what's new in Numia accounting (Ver 2.0)
Numia is a free online Accounting service . Numia has many
features and it is updating . All these updates are still available for free whereas other online accounting services are having very little features as free and the updates as paid
service.
Look at what's new in Numia accounting @
http://numia.biz/newfeatures.html
features and it is updating . All these updates are still available for free whereas other online accounting services are having very little features as free and the updates as paid
service.
Look at what's new in Numia accounting @
http://numia.biz/newfeatures.html
You are lucky if you want more in numia , Numia acconting Version 3.0 is due in short period.
Numia has special feature of adding transaction from
mobile by just sending a SMS.
Want to know more about that?
Just have a demo @ http://numia.biz
Video Tutorials - Accounting made easier
During past the accounting was more of book keeping done in huge ledgers. But at present everything had changed. Accounting is much more widely accepted as a business function and general people also look for the accounting details of the firms they are associated with.
In day to-day business maintaining book keeping in ledgers is hard in few situations(both for small and large business). Huge amount of time and man power is required for maintaining those kind of records. So Online accounting service, viewed as merely experimental a few years ago are now becoming the vital role to run a business.
These softwares becomes more transparent for businesses where limited time & man power is required. Our main aim is to make numia easier and comfortable for user/business. So we had a team to create these video tutorials for you to get a clear picture on what you are working into. Each process has a video tutorial so go ahead and come out with any suggestions.
Video Tutorials in Numia is intuitive and makes everything easy. The step-by-step instructions that map out each accounting task. This makes managing finances easier, especially for the beginner who doesn't understand every step in each task. Getting started is easy using the Setup Guide and instructional video demos.
In day to-day business maintaining book keeping in ledgers is hard in few situations(both for small and large business). Huge amount of time and man power is required for maintaining those kind of records. So Online accounting service, viewed as merely experimental a few years ago are now becoming the vital role to run a business.
These softwares becomes more transparent for businesses where limited time & man power is required. Our main aim is to make numia easier and comfortable for user/business. So we had a team to create these video tutorials for you to get a clear picture on what you are working into. Each process has a video tutorial so go ahead and come out with any suggestions.
Video Tutorials in Numia is intuitive and makes everything easy. The step-by-step instructions that map out each accounting task. This makes managing finances easier, especially for the beginner who doesn't understand every step in each task. Getting started is easy using the Setup Guide and instructional video demos.
Ago a go - Slow startup for Numia
Its been since 2 years Numia was launched, An Online accounting software. Started with a team of young, youthful software engineers who always had a thirst to succeed. Now this online accounting serves more than 1k companies and 850 individual users. This is low when compared with other services but numia always had trusted users.
Being a Free Online accounting software, this has all options compared with other paid accounting softwares. With in two years Numia team had learn't a lot in developing the software more easier and flexible for the end users.
As there are many giant paid accounting softwares and also they have huge number of customers, its very tedious for numia to reach the online customers without promotion. Even though numia had very nice features compared to other paid sites it has lacked in reaching customers for a while. But for the past 4 months numia is having a rapid growth both in system level and also in user level.
The main objective for creating a blog is to have the technology in its place and all about providing an insight in order to build an audience. Mainly learn from sharing, Numia want to be conversational, personable and transparent.
From now there will be multiple authors to write blogs about the product, features and usage of Numia. So keep reading our blogs to know the day to-day updates and also comment on anything you like... Suggestions invited. Only you people are going to use our Free Online Accounting Software - Numia.
Being a Free Online accounting software, this has all options compared with other paid accounting softwares. With in two years Numia team had learn't a lot in developing the software more easier and flexible for the end users.
As there are many giant paid accounting softwares and also they have huge number of customers, its very tedious for numia to reach the online customers without promotion. Even though numia had very nice features compared to other paid sites it has lacked in reaching customers for a while. But for the past 4 months numia is having a rapid growth both in system level and also in user level.
The main objective for creating a blog is to have the technology in its place and all about providing an insight in order to build an audience. Mainly learn from sharing, Numia want to be conversational, personable and transparent.
From now there will be multiple authors to write blogs about the product, features and usage of Numia. So keep reading our blogs to know the day to-day updates and also comment on anything you like... Suggestions invited. Only you people are going to use our Free Online Accounting Software - Numia.
Jokes about Big 4
Sharing the following jokes with you only:
Your alarm rings, signalling another brand new day. You get up, looking
forward for another new day of challenge, another new day to learn.
After washing up, you put on your office outfit, giving you that
professional look, one that you believe many out there envy. Breakfast
follows (perhaps), and you head off to your office. You're one of the
earliest to arrive, ahead of all your superior and when they come in
later, they greet you and you feel all charged up for another productive
day. Plenty to do and learn and hence, you are prepared to stay back
late to do all that is necessary.
If you're currently doing a degree in finance, accounting or law, the
above is probably what you've been waiting for all these years. You work
your ass off (well... most of you) in university because it's your dream
to join one of those big glamorous firms out there in the market.
Lawyers and accountants are the usual suspects for this curse. Once
graduated, all of them will run like headless chicken towards those big
firms. If you're an accounting student... you want to be an auditor in
one of the Big-4 right?
Well, if you do make it, it's like a dream come true. In such firms, you
get a personal computer, maybe a notebook (wow!). All your stationeries
are free, and it's also the first time you step into a 'pantry', where
you can make your own coffee, just like those nice offices in TVB
series. Next, you get an exclusive e-mail, the domain after your name is
not the ordinary @ gmail.com
not, it's your-name@a-big-and-glamorous-firm.com
. You can't wait to tell
that to your friend.
Then comes the feeling of giving a business card with your name on it,
and it's not any other business card, it's one with your name on it,
it's one that signifies you're an employee with
a-big-and-glamorous-firm. And... the word below your name is not a lowly
"accounts executive"... the word below your name is exclusive... the
word below your name is... "Associate". And when your friend gives you
the "Wow, you're an associate with this firm?"... you get into instant
orgasm.
3 or 6 months into your job, you will then be experiencing the euphoria
of saying... I-am-very-busy... I-have-a-lot-work...
I-worked-till-very-late-last-night...
I-can't-make-it-for-the-gathering-cos-I-have-to-work-this-weekend. Yeah,
it's an euphoria because to you, it's a privilege to be busy, it's very
cool to work late, you're very proud to work in during weekends. When
you utter such words, a sense of arrogance and pride radiates from you.
You feel great because working so hard means you learnt a lot of things,
those not in the professional industry somehow looks lowly to you. You
feel big, you feel you're a level smarter than them .Reality will tend
to sink in within 2 years or so, though the duration seems to be getting
shorter and shorter now with the younger generation.
First, you will probably ask yourself, how come a graduate like you must
do all sorts of donkey jobs such as photocopying, checking invoices,
going through pile and pile of documents and filing. You will also be
wondering how come your superior whom you once looked up to have to suck
up to clients. Oh yeah... most all clients are unreasonable.
If you're an accountant, you will probably realise that there is no such
thing called a 'balance' sheet. It's balanced because you did the
balancing act so that your big boss can sign on it and certify it as
'true and fair'.
Yeah... signing on accounts, the job that you once dreamed of... isn't
exactly all a bed of roses. You then realise that you will probably
never reach that "just-need-to-sign-only stage" but hey... it's ok, you
probably hate that job by now. When you tell your client something,
chances are you are just as blur and confuse as them. But you have to
act as though you're an expert because you're the con-sul-tant. This is
just a glimpse of it.
Now, all the late nights and irregular meals will probably caused you to
age 8 years in 2 years. Those I-am-very-busy... I-have-a-lot-work...
I-worked-till-very-late-last-night...
I-can't-make-it-for-the-gathering-cos-I-have-to-work-this-weekend will
take its toll on your body and it will show. You will probably look very
skinny... or very far... you will certainly look old and worn out.
Working late and spending weekends in the office is no longer a cool
thing but absolute stupidity. But hey... you will still have to do it,
because there's still much work to be done.
By now, all your friends who ended up as salesmen or doing other thing
except being a professional, those whom you felt superior to are driving
anything but a proton. But for you, it's time to think whether you
should buy a proton cause your perodua is beginning to give you problem.
Of course, if your father is well-connected fella, things can be
different.
But if you're not, tough luck. You'll be wondering how come you're
generally under-paid. Those exposure and learning curve that you once
craved are no longer relevant. You want to make more money. But unless
you're a partner of the glamorous firm, money can be a lil tough to come
by.
At this point of time, probably after 3, 4 or 5 years, you finally
realised that document you signed when you first joined the glamorous
firm was nothing but lies. Then, you decide to ply your trade in the
commercial world, you leave those glamorous firm. You think joining a
commercial firm will bring about a good change, not knowing that such
move means you switched from being a 'profit centre' to a 'cost centre'.
One of the main effect of the switch is that you will be working doubly
hard compared to the profit centre, which probably includes a lot of
late nights too... but your salary and bonus is much lower compared to
profit centre. What does this mean... a story for another time.
One thing for sure... your morning will now be something like...
Your alarm rings, signalling another day... another weekday. You get up,
after snoozing the alarm a million and one times. You hope today is
Friday, but it's not, and you feel like shit. You think of a million and
one reasons to take MC, but you realised you have to go to office
because you failed to finish the report due today though you stayed till
10pm last night. You tell yourself you need to change job, just like how
you have been telling yourself in the last 1 year. Once in office,
you're in a dilemma cause you want time to go slower so that you can
finish your work but yet, you want time to go faster so that you can
leave the office and go for lunch.
During lunch, you will b**** with your colleagues about work and
probably the bosses. You will all talk about so many people who seem to
be doing so well except for you. You realised you should have done
something else while in university. You realised you may have made a
mistake in life... a mistake in being a professional... you have made...
a professional mistake.
Your alarm rings, signalling another brand new day. You get up, looking
forward for another new day of challenge, another new day to learn.
After washing up, you put on your office outfit, giving you that
professional look, one that you believe many out there envy. Breakfast
follows (perhaps), and you head off to your office. You're one of the
earliest to arrive, ahead of all your superior and when they come in
later, they greet you and you feel all charged up for another productive
day. Plenty to do and learn and hence, you are prepared to stay back
late to do all that is necessary.
If you're currently doing a degree in finance, accounting or law, the
above is probably what you've been waiting for all these years. You work
your ass off (well... most of you) in university because it's your dream
to join one of those big glamorous firms out there in the market.
Lawyers and accountants are the usual suspects for this curse. Once
graduated, all of them will run like headless chicken towards those big
firms. If you're an accounting student... you want to be an auditor in
one of the Big-4 right?
Well, if you do make it, it's like a dream come true. In such firms, you
get a personal computer, maybe a notebook (wow!). All your stationeries
are free, and it's also the first time you step into a 'pantry', where
you can make your own coffee, just like those nice offices in TVB
series. Next, you get an exclusive e-mail, the domain after your name is
not the ordinary @ gmail.com
not, it's your-name@a-big-and-glamorous-firm.com
that to your friend.
Then comes the feeling of giving a business card with your name on it,
and it's not any other business card, it's one with your name on it,
it's one that signifies you're an employee with
a-big-and-glamorous-firm. And... the word below your name is not a lowly
"accounts executive"... the word below your name is exclusive... the
word below your name is... "Associate". And when your friend gives you
the "Wow, you're an associate with this firm?"... you get into instant
orgasm.
3 or 6 months into your job, you will then be experiencing the euphoria
of saying... I-am-very-busy... I-have-a-lot-work...
I-worked-till-very-late-last-night...
I-can't-make-it-for-the-gathering-cos-I-have-to-work-this-weekend. Yeah,
it's an euphoria because to you, it's a privilege to be busy, it's very
cool to work late, you're very proud to work in during weekends. When
you utter such words, a sense of arrogance and pride radiates from you.
You feel great because working so hard means you learnt a lot of things,
those not in the professional industry somehow looks lowly to you. You
feel big, you feel you're a level smarter than them .Reality will tend
to sink in within 2 years or so, though the duration seems to be getting
shorter and shorter now with the younger generation.
First, you will probably ask yourself, how come a graduate like you must
do all sorts of donkey jobs such as photocopying, checking invoices,
going through pile and pile of documents and filing. You will also be
wondering how come your superior whom you once looked up to have to suck
up to clients. Oh yeah... most all clients are unreasonable.
If you're an accountant, you will probably realise that there is no such
thing called a 'balance' sheet. It's balanced because you did the
balancing act so that your big boss can sign on it and certify it as
'true and fair'.
Yeah... signing on accounts, the job that you once dreamed of... isn't
exactly all a bed of roses. You then realise that you will probably
never reach that "just-need-to-sign-only stage" but hey... it's ok, you
probably hate that job by now. When you tell your client something,
chances are you are just as blur and confuse as them. But you have to
act as though you're an expert because you're the con-sul-tant. This is
just a glimpse of it.
Now, all the late nights and irregular meals will probably caused you to
age 8 years in 2 years. Those I-am-very-busy... I-have-a-lot-work...
I-worked-till-very-late-last-night...
I-can't-make-it-for-the-gathering-cos-I-have-to-work-this-weekend will
take its toll on your body and it will show. You will probably look very
skinny... or very far... you will certainly look old and worn out.
Working late and spending weekends in the office is no longer a cool
thing but absolute stupidity. But hey... you will still have to do it,
because there's still much work to be done.
By now, all your friends who ended up as salesmen or doing other thing
except being a professional, those whom you felt superior to are driving
anything but a proton. But for you, it's time to think whether you
should buy a proton cause your perodua is beginning to give you problem.
Of course, if your father is well-connected fella, things can be
different.
But if you're not, tough luck. You'll be wondering how come you're
generally under-paid. Those exposure and learning curve that you once
craved are no longer relevant. You want to make more money. But unless
you're a partner of the glamorous firm, money can be a lil tough to come
by.
At this point of time, probably after 3, 4 or 5 years, you finally
realised that document you signed when you first joined the glamorous
firm was nothing but lies. Then, you decide to ply your trade in the
commercial world, you leave those glamorous firm. You think joining a
commercial firm will bring about a good change, not knowing that such
move means you switched from being a 'profit centre' to a 'cost centre'.
One of the main effect of the switch is that you will be working doubly
hard compared to the profit centre, which probably includes a lot of
late nights too... but your salary and bonus is much lower compared to
profit centre. What does this mean... a story for another time.
One thing for sure... your morning will now be something like...
Your alarm rings, signalling another day... another weekday. You get up,
after snoozing the alarm a million and one times. You hope today is
Friday, but it's not, and you feel like shit. You think of a million and
one reasons to take MC, but you realised you have to go to office
because you failed to finish the report due today though you stayed till
10pm last night. You tell yourself you need to change job, just like how
you have been telling yourself in the last 1 year. Once in office,
you're in a dilemma cause you want time to go slower so that you can
finish your work but yet, you want time to go faster so that you can
leave the office and go for lunch.
During lunch, you will b**** with your colleagues about work and
probably the bosses. You will all talk about so many people who seem to
be doing so well except for you. You realised you should have done
something else while in university. You realised you may have made a
mistake in life... a mistake in being a professional... you have made...
a professional mistake.
#87- Disposing capital-intensive business
What's happening in the corporate world now?
Capital-intensive require heavy investment of resources, including, but not limimted to: cash, human resource,management's effort, etc. As part of the restructuring exercise to scale down, there are evidence that a lot of corporate are disposing off capital-intensive business.
How would disposing capital-intensive business benefit the corporate?
- immediate liquidity ( i.e. proceeds from disposal)
- better working capital management
- allow management to evaluate other business opportunities
- lesser resources are required, which allow the business to scale down
- higher return on asset ("ROA") ratio
However, it's always not easy to dispose off a capital-intensive business unit/ busines during this business environment, unless a substantial discount is given to the potential buyers.
Capital-intensive require heavy investment of resources, including, but not limimted to: cash, human resource,management's effort, etc. As part of the restructuring exercise to scale down, there are evidence that a lot of corporate are disposing off capital-intensive business.
How would disposing capital-intensive business benefit the corporate?
- immediate liquidity ( i.e. proceeds from disposal)
- better working capital management
- allow management to evaluate other business opportunities
- lesser resources are required, which allow the business to scale down
- higher return on asset ("ROA") ratio
However, it's always not easy to dispose off a capital-intensive business unit/ busines during this business environment, unless a substantial discount is given to the potential buyers.
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