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Accounting Software Business

Accounting Software is a class of computer software, or program that helps accounting professionals mange accounts and perform accounting operations. The simplest accounting programs, sometimes called personal finance managers, are single-entry systems that automate tasks such as check writing and record keeping. Double-entry systems include functions for general ledger, accounts receivable, and accounts payable. More sophisticated systems also support functions for payroll, inventory, invoicing, and fixed assets. Some high-end systems even support sales analysis and time billing.
 

 

 


Now a days accounting software is coming with integrated statutory compliance software. Good quality accounting software with facility of statutory compliance have great demand in the market. Continuous updating of changing statutory requirements are very important to keep the demand of the software. Now a days big organizations are using ERP software for their overall requirements. But small medium business organizations are using tailor made software which suits their requirements. Business of Accounting Software can be started in different Business Models. There is great demand for tailor made accounting software. The following business forms can be used to start accounting work.


Proprietorship

A Proprietorship can be started by single person with the following facilities:

Office

Rented or own office

Staff

Facilities

Dealership

For Accounting software Business, Dealership from reputed software developers can be taken. Many companies are offering good commission to sell their software.

 

 

 

Opening of Bank Account

In India, Bank Account of a Proprietorship can be opened by giving the following documents:

  1. ID Proof of Proprietor
  2. Address Proof of Proprietor
  3. Photograph of Proprietor
  4. Copy of PAN Card of Proprietor
  5. Copy of Service Tax Registration Certificate or any other relevant document.

But in other countries, documentation procedure will be different according to the law of land.

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Partnership

A Partnership can be made by two or more persons by creating partnership deed.

Registration of Partnership Deed

In India, it is not compulsory to Register a Partnership deed. But an un registered partnership have some disadvantages in the eye of law. So it is better to register the deed with the Registrar. A Registered partnership firm has all the right to sue in a court of law in India. But in other countries there may be differences in rule.

Office

 

 

Rented or own office

Staff

Facilities

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Partners
  2. Address Proof of Partners
  3. Photograph of Signatories
  4. Copy of PAN Card of Partnership Firm
  5. Copy of Partnership Deed
  6. Address Proof of Partnership firm
  7. Any other document which may be asked by the bank

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Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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Private Limited Company

A Private Limited Company can be registered by minimum of 2 person and maximum of 50 persons. There are many advantages of registering a private limited company. A Private Limited company can be registered with limited liability, which will protect the personal asset of the business man in case of failure of business.

Registration of Private Limited Company

In India, it is compulsory to Register a Private Limited Company. It can be registered with the help of a Practicing Company Secretary, Advocate or A Chartered Accountant. Facilities required for Business are:

Please refer to Registration Procedure of a Private Limited Company for more information related to Registration of Private Limited companies.

Office

Rented or own office

Staff

Facilities

 

 

Dealership

For Accounting software Business, Dealership from reputed software developers can be taken. Many companies are offering good commission to sell their software.

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Directors
  2. Address Proof of Directors
  3. Photograph of Signatories
  4. Copy of PAN Card of Company
  5. Copy of Memorandum and Articles of Association
  6. Address Proof of Company
  7. Any other document which may be asked by the bank

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Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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Public Limited Company

A Limited Company can be registered by minimum of 7 person and there is no maximum limit of members. There are many advantages of registering a Limited company. A Limited company can be registered with Limited liability, which will protect the personal asset of the members in case of failure of business.

Registration of Limited Company

In India, it is compulsory to Register a Limited Company. It can be registered with the help of a Practicing Company Secretary, Advocate or A Chartered Accountant. Facilities required for Business are:

Please refer to Registration Procedure of a Public Limited Company for more information related to Registration of a Public Limited company.

Office

Rented or own office

Staff

Facilities

Dealership

For Accounting software Business, Dealership from reputed software developers can be taken. Many companies are offering good commission to sell their software.

 

 

Software Development

Software can be Developed according to the needs of the client. But it is a very competitive field and there are many reputed companies who are making tailor-made software. So the Business structure should be made strong.

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Directors
  2. Address Proof of Directors
  3. Photograph of Signatories
  4. Copy of PAN Card of Company
  5. Copy of Memorandum and Articles of Association
  6. Address Proof of Company
  7. Any other document which may be asked by the bank

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Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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