Quick summary
Incorporporation done. Bank account open. Now what? Here's how to set up your accounting function from scratch in the first 90 days of your Bangalore startup.
Day 1–30: the foundation
The first month after incorporation is when accounting habits are set. The decisions you make now determine whether your books are clean or chaotic 12 months later.
- Open a current account in the company's name. Separate from personal accounts (mandatory, not optional)
- Appoint a bookkeeper or CA firm for ongoing accounting. Even at 0 revenue
- Set up accounting software: Tally Prime, Zoho Books, or QuickBooks. Your bookkeeper will advise based on your transaction type
- Apply for GST registration if you expect to cross ₹20 lakh turnover or have inter-state supplies
- Deduct TDS on any contractor or professional payments from day one
Day 31–60: compliance calendar
Once your accounting infrastructure is in place, understand the monthly compliance rhythm your accountant will run:
- By 11th of each month: GSTR-1 filing (outward supplies of previous month)
- By 20th of each month: GSTR-3B filing and GST payment
- By 7th of next month: TDS payment for deductions made in previous month
- By 31st of quarter-end month: TDS return filing (Form 24Q / 26Q)
- Monthly: bank reconciliation, P&L review
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Find a verified accountant in BengaluruDay 61–90: financial reporting baseline
By the end of month 3, you should have a working financial reporting structure:
- Monthly MIS report: revenue, expenses, burn rate, cash position
- Chart of accounts configured for your business model (SaaS, services, e-commerce, product)
- Fixed assets register started (laptops, furniture, equipment. Even early stage)
- Director loan / shareholder loan properly documented if founders have put in personal money
- Expense policy drafted: what gets reimbursed, what requires approval, what's not reimbursable
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