Kindly let me know as per Indian Accounting Standards, are we allowed to maintain books of accounts in Quick books software(American software), if it is in INR version, Kindly let me know,
07 February 2011
Why not. definitely you can. please understand that there is no prescribed software under Indian Accounting Standards. Also, these standards does not prescribe anywhere the set of books of accounts to be maintained. These requirements generally come from the Companies Act, the Income Tax Act and the like. Now if Quickbooks enable you to maintain the prescribed set up of books of accounts, then definitely you are good to go.
CAclubindia
