Razorpay

JUNE 10, 2023

What is Accounting? Accounting is the process of recording a business’s financial transactions. The objective of accounting is to prepare financial statements like the Balance Sheet, Cash Flow Statement and Income Statement which give detailed insights into the financial performance of a business.

Accountant

Razorpay

JUNE 5, 2023

What is Double Entry System of Accounting? The double-entry system is a method of bookkeeping that records financial transactions in two accounts. For every debit entry made to one account, there must be an equal and opposite credit entry made to another account. What is Single Entry System?

Accountant

Razorpay

JULY 11, 2023

What is a Current Account? A current account is a kind of deposit account for individuals and organizations that deal with a huge number of transactions. The scale of these transactions is too large for a regular savings account. Read more: What is a Current Account? What is RazorpayX?

Accountant

Peak Frameworks

AUGUST 15, 2023

Welcome to a comprehensive exploration of the Accounting Cycle , a critical concept every finance professional should master. It is the backbone of financial record keeping, driving the operation of businesses worldwide. Double-Entry Accounting System Every financial transaction has two sides - a debit and a credit.

Accountant

Razorpay

MARCH 18, 2024

What is Corporate Account? A corporate account is a bank account one can open in the name of a business. It is used to facilitate transactions, receive income, and store funds. Every small business that is required to pay tax should have a corporate bank account for business banking and its numerous benefits.

Accountant

Razorpay

JANUARY 17, 2024

With a RazorpayX Business Banking+ Account, you can add beneficiaries and make payouts with no cooling period. Get Your Own Business Banking+ Account! A beneficiary is a person or organization that benefits from a will , trust , retirement plan , insurance policy , ann uity , financial transaction or another arrangement.

Accountant

Razorpay

MARCH 27, 2024

What is a Checking Account? A checking account is a type of bank account that allows you to deposit and withdraw money, write checks or use a debit card to make purchases or pay bills. Generally, account holders use these accounts on a short-term basis for paying daily expenses like food bills.

Accountant

Razorpay

MAY 30, 2023

What is Cost Accounting Cost accounting is a form of managerial accounting that analyses how much money is being used in production. The objective of cost accounting is to provide management with information that can be used for decision-making, cost control, and performance evaluation.

Accountant

Razorpay

MAY 6, 2024

Payment processing is the backbone of financial transactions in today’s digital world. From credit card payments to digital wallets, comprehending the intricacies of payment processing is vital in safeguarding financial interests and facilitating the smooth flow of commerce. What is Payment Processing?

IT

Razorpay

MAY 23, 2023

Regular retail banks provide financial services to individuals but are not equipped to service businesses. Corporate banking provides businesses financial services like account holding, loans, capital, vendor management, and more. Check out RazorpayX!

Retail

Razorpay

JUNE 8, 2023

What is Banking? A bank is any financial institution that helps people and businesses store, invest and borrow money. Banks provide services like deposits, loans, and investment options. Banks in India are regulated by the Reserve Bank of India (RBI), which is the central banking authority of the country.

Bank

Razorpay

SEPTEMBER 22, 2023

The Unified Payments Interface (UPI) is a game-changer technology for digital payments, allowing users to make instant payments, check account balances, and manage multiple bank accounts in a single app. It does away with the time-consuming process of visiting banks or ATMs for transactions.

IT

Razorpay

JULY 29, 2023

Do you remember the last time you visited a physical bank branch to change your registered mobile number or personal details? Do you remember the last time you visited a bank for any financial operation? If your answer to these questions is “no”, you have e-banking to thank! What is E-Banking?

Bank

Razorpay

MAY 27, 2024

What is Core Banking Solution? A core banking solution (CBS) is a software used by banks to manage primary operations. It is a centralized system that allows customers or businesses to carry out transactions from any branch rather than only from the branch where the account was opened.

Bank

OfficeHours

JUNE 12, 2023

Through a private equity internship, you will be exposed to high-stakes, complex financial transactions and gain valuable experience in investment analysis, deal structuring, and portfolio management. This includes questions related to LBO modeling, multiples valuation, and basic accounting / financial statement analysis.

Private Equity

Razorpay

JULY 27, 2023

Similarly, businesses with large, complex financial needs go to the country’s biggest banks. These banks are called investment banks. Let’s take an in-depth look at what an investment bank is, and how businesses benefit from them. What is Investment Banking? Let’s understand with an example.

Investment Banking

Peak Frameworks

MAY 2, 2024

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course , which help thousands of candidates land top jobs every year. From processing deposits and withdrawals to resolving customer inquiries, tellers play a pivotal role in ensuring a seamless banking experience.

Bank

Wall Street Mojo

JANUARY 17, 2024

Statement of Cash Flows Definition A Statement of Cash Flow is an accounting document that tracks the incoming and outgoing cash and cash equivalents from a business. It helps identify the availability of liquid funds with the organization in a particular accounting period.

Accountant

Business Standard - FInance

MAY 31, 2023

Banks, foreign exchange dealers and other reporting entities have 'couple of days more' to report high-value transactions done by their clients in 2022-23 by filing SFT returns, the I-T department has said. The last date for filing statement of financial transactions (SFT) for 2022-23 fiscal was May 31.

Financial Transaction

Peak Frameworks

SEPTEMBER 19, 2023

History of SWIFT In the early 1970s, banks predominantly used telex for international communications, which was not just cumbersome but lacked standardization. To address these inefficiencies, 239 banks from 15 countries collaborated in 1973 to form SWIFT , aiming for a standardized global transaction protocol.

Bank

Razorpay

JULY 2, 2024

With these, they observed challenges with chargebacks, transaction failures, and high per-transaction costs for alternative payment methods beyond bank transfers. All this was possible for Satrang only by one optimal solution – Razorpay MoneySaver Export Account. Start Saving with the Razorpay MoneySaver Export!

Accountant

Razorpay

FEBRUARY 13, 2024

In India, IMPS and UPI have emerged as widely used electronic funds transfer methods, revolutionising the way people conduct financial transactions. IMPS known for its speed and simplicity, facilitates seamless money transfers between bank accounts. 5 lakhs quickly and securely through mobile banking, NetBanking and ATMs.

Funds

Razorpay

OCTOBER 25, 2024

Offering a broad range of services, from mutual funds to intra-day trading and derivatives, Rupeezy needed a payment partner who could handle the complexities of financial transactions. SEBI requires every transaction initiated by a customer must be made from their registered bank account.

Financial Services

Wall Street Mojo

JANUARY 16, 2024

A reconciliation statement refers to the banking summary prepared by the banks to list down the bank’s account balances and compare the same with their internal records. read more to have parity in the books of accounts of both legal entities. What Is Reconciliation Statement?

Accountant

Razorpay

NOVEMBER 5, 2023

You must be familiar with the term ‘IFSC Code’ if you have transferred funds to another bank account. You may also have noticed the IFSC printed on bank chequebooks. IFSC stands for the Indian Financial System Code. It is an 11-digit alphanumeric code unique to each bank branch in India.

Electronics

Razorpay

NOVEMBER 30, 2023

Besides, electronic payment systems have revolutionized the way we handle our finances, making transactions quicker, more efficient, and accessible to anyone with a bank account. NEFT is typically used for smaller transactions, while RTGS is reserved for larger, time-sensitive transfers.

Electronics

Razorpay

OCTOBER 27, 2023

Payment security refers to the processes and practices used to safeguard financial transactions, funds and personal information of clients from threats like online and offline payment fraud, unauthorized access, and data breaches. As a final confirmation, the bank sends you an OTP on your registered mobile number.

Securities

Razorpay

NOVEMBER 19, 2024

Understanding Mandates and e-NACH Cancellation The National Automated Clearing House (NACH) is a centralised payment system established by the Reserve Bank of India (RBI). NACH mandate cancellation is an important process that every account holder should understand. The mandate is a formal authorisation given to banks and institutions.

Accountant

Razorpay

DECEMBER 20, 2023

These methods include cash, credit / debit cards, bank transfers, mobile payments and digital wallets. Debit Card Payments Debit cards allow you to make transactions by deducting funds from your bank account. Limited funds: You can only spend what’s in your bank account. What are Payment Methods?

Accountant

Razorpay

SEPTEMBER 17, 2023

It is a platform that connects your bank account to the platform where you need to transfer money. A payment gateway authorises you to conduct an online transaction through different payment modes like net banking, credit card, debit card, UPI, or the many online wallets that are available these days. Card Networks (e.g.,

Bank

Razorpay

MARCH 28, 2025

Scammers manipulate invoices to trick companies into making payments to fraudulent accounts. These scams can lead to financial losses, disrupt operations, and damage relationships with vendors. Understanding how invoice fraud works and implementing preventive measures is crucial for safeguarding your business against financial fraud.

Accountant

Razorpay

DECEMBER 20, 2023

Payment reconciliation is an accounting process that serves as the bridge between a company’s internal financial records and its bank statements. This reconciliation is essential because it validates account balances and ensures that the company’s financial records accurately reflect its financial transactions.

IT

Razorpay

OCTOBER 31, 2023

Export vs Import Payments Export payments are the financial transactions that occur when a country or entity sells goods, services, or assets to foreign customers or buyers. Import payments refer to the financial transactions that occur when a country or entity purchases goods, services, or assets from foreign sources.

Bank

Razorpay

OCTOBER 3, 2024

This includes initiating and processing payments, fraud detection, compliance, handling disputes, resolving issues, managing international transactions, reconciliation, and accounting. It involves integrating various elements to ensure efficient and secure financial transactions.

Bank

Wall Street Mojo

JANUARY 15, 2024

read more , and other requirements to express his opinion on the objective and unbiased view of the company’s financial statements during the period under consideration. Inspection involves examining documents, records, and tangible assets, providing tangible proof of financial transactions.

Financial Statement

Razorpay

APRIL 10, 2024

A purpose code is a unique identifier issued by a country’s central bank that is necessary for the successful execution of international payments. These codes are assigned to each transaction involving foreign currency and specify the purpose for which the transaction is being made.

S&P

Razorpay

AUGUST 11, 2024

A payment network is a system that processes electronic payments between consumers, businesses, and financial institutions. By connecting merchants, banks, and card issuers, it enables seamless processing of credit, debit, and other electronic transactions. When a transaction is initiated, the network verifies the details.

IT