What type of accounts do I need to maintain for a sole proprietorship doing export business?

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My plan is to start a Sole proprietorship for export and later if the business expands then convert it to a Pvt Ltd but I don’t know what are the names of the accounts I must maintain.

For example:- cost A/c, or ledger A/c or P&L + B/S A/c or something else? These are just a few names not all.

Being a Sole proprietor the nature of the transaction would be:-

making or purchasing products from India and then selling to other countries either through visiting at that country's trade fair or transporting the product directly to that country's retail shops.)

Replies (2)

Avoid all of this by using tally. Customisation can be done for free . Because youll have loads of things to do by yourself. Manually you can name any account what name is relevant. Plus, check schedule 3 or relevant acts for a format. 

Is there any better software than Tally. although I am from B.Com, and then M.Com Bus Admin but then I did MCA and worked as a software engineer at MNC and I feel that I am not excellent in accounts so for those who can understand but not in touch or require to learn or recall accounting. For these types of people (Me), I am looking software that uses a simple approach to make accounts. For example, first, provide a template that includes all types of transactions showing in which account they should come and on what side, and then I can relate my transaction so that I can simply insert those transactions to the relevant account based on the template and then export those account file in generic format xls or X M L or universal format that can be used by others in other accounting software also and then I simply send to the CA for review or may be able to generate an Audit report using those account and then send to CA for review and digital signature so that I can upload it to MCA portal. or maybe if required to generate IT or GST Audit reports. 

I am mentioning few of the names which are used or alternatives of Tally or may be better software compared to Tally.

Can you please point out which one is best or better than Tally or in case I forget any name which is the best software?

My preference would be choosing free software but if it is paid and monthly charges are less then also I am ok with that. I think (not sure) that Tally installed in educational mode is free but then I don't think that I am allowed to use 'Education mode' for my export business ? or I can use ?

I have seen a lot of reviews on quora but it is very difficult to pick one based on review because some people say this is good but others say no this is good and even some say that QuickBooks does not provide GST-based account treatment so it is very difficult to pick one name ? I am also concerned about using software that does not store my account info in their cloud server or just to process purposes using an external server (not my laptop). looking any lightweight desktop-based software. 

here is the list :

winfa
OneStop Accounting Software
Clear Tax
Tally ERP 9
Reach GST

NetSuite
Zoho Books.
QuickBooks Online and QuickBook Desktop Pro. and QuickBooks Desktop Enterprise

Sage Intacct

XERO

FreshBooks

Busy Accounting Software.

Intuit Quickbooks
ProfitBooks.
Logic.
MargERP
Vyapar.
Bearbook
Kashoo
Zipbooks
Easy Accountx
IDOS (Starts at only Rs 250 a month)
MYOB


CCI Pro

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