ACCOUNTING SOFTWARE

MC Vendor Hub Accounts – Simple, Smart, and Digital
1. Introduction
Accounting is the language of business. It records, summarizes, and reports all financial transactions, helping business owners, vendors, and individuals make better decisions.
Through MC Vendor Hub, we bring simple, structured, and digital accounting tools to help you manage money with clarity and confidence — without needing deep accounting knowledge.
2. What Are Accounts?
An account is a record used to track financial transactions related to a specific item such as sales, purchases, salary, rent, or cash.
The Five Main Types of Accounts:
          a. Assets - What the business owns (Cash, Bank, Inventory, Property)
          b. Liabilities - What the business owes (Loans, Creditors)
          c. Equity / Capital - Owner’s investment (Capital, Retained Earnings)
          d. Income / Revenue - Money earned (Sales, Service Income)
          e. Expenses - Costs to run the business (Rent, Salary, Electricity)
Formula:  Assets = Liabilities + Equity
3. Key Accounting Records in MC Vendor Hub
          > Journal - The first book of entry. Every transaction is recorded as Debit & Credit.
                       Example: Rent Expense A/c Dr 10,000
                                         To Bank A/c 10,000
          > Ledger - Account-wise summary of all transactions.
                       Example: Bank Ledger shows deposits & payments with running balance.
          > Trial Balance – A list of all ledger balances (Debit vs Credit). Ensures accuracy.
          > Profit & Loss Account – Shows Income vs Expenses -  Profit or Loss.
                      Example:  Sales = 1,00,000
                                        Expenses = 80,000
                                        Net Profit = 20,000
          > Balance Sheet – Snapshot of financial position.
                     Example: Assets = 5,00,000 | Liabilities = 2,00,000 | Capital = 3,00,000
4. Supporting Reports in MC Vendor Hub
            > Cash Book - Daily cash transactions
            > Bank Book - UPI, NEFT, Cheques, Transfers
            > Accounts Receivable - Customers who owe you money
            > Accounts Payable - Vendors you owe money
            > GST / Tax Reports - Input/Output GST, Payable, Receivable
            > Bank Reconciliation Report - Matches books with bank statements
5. Audit & Compliance Made Easy
MC Vendor Hub supports Audit Trails - every entry is tracked (who, when, what).
         > Chartered Accountants can easily review & certify accounts.
         > Ready reports: Audit Report, GST Filing, Tax Filing.
6. Why Use MC Vendor Hub for Accounting?
         > Simple dashboard for finances
         > Real-time tracking of income & expenses
         > Auto-generated reports (P&L, Balance Sheet, GST)
         > Easy bank reconciliation (manual upload or API)
         > Audit-ready with complete documentation
7. Conclusion
Accounting is no longer about heavy registers and files. With MC Vendor Hub, businesses and individuals can manage their accounts digitally, easily, and securely.
Tagline: Your City, Your Accounts — at Your Fingertips!