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CA Rinky Vishwakarma, Fellow Chartered Accountant
CA Rinky VishwakarmaFellow Chartered Accountant · SVT & AssociatesICAI No.: 177507
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Accounting for Your Industry

Accounting Services for IT and Software Companies: From Rs. 3,500 a Month, MIS by the 10th

Accounting Services for IT and Software Companies, prepared and reviewed by a practising CA at an ICAI-registered firm, with a fixed fee confirmed in writing.

Starting priceRs. 3,500per month + GST
TurnaroundMIS by the 10thFixed fee in writing
What is includedCA-reviewedBooks, reconciliation, MIS
IT company accounting covers project and milestone billing, export-of-services invoicing under LUT, foreign-currency receipts, payroll with TDS and PF, and monthly profit by client. SVT & Associates, an ICAI-registered CA firm, keeps books for software and services firms from Rs. 3,500 per month plus GST.
★ 4.8 Google rating
20 years combined experience
1,000+ clients served
ICAI-registered firm
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Reviewed by CA Rinky Vishwakarma (ICAI No.: 177507) · Last updated

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CA Rinky VishwakarmaReviewed by CA Rinky Vishwakarma · ICAI No.: 177507
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1,000+
Clients served
20 years
Combined experience
4.8 ★
Google rating
UDIN
On every attest certificate
Who Needs This

When You Need Accounting Services for IT and Software Companies

In Detail

Accounting Services for IT and Software Companies: how it works and what to expect

Revenue that follows the contract, not the bank

Software firms bill in several ways: fixed-price milestones, time-and-material, monthly retainers and subscriptions. Revenue should follow the work done or the service period, not the date the client pays.

We map each contract to its method and record revenue accordingly, with unbilled revenue and advances shown on the balance sheet. The MIS therefore compares the month's revenue to the people and tools used to earn it.

Exports of services, foreign receipts and contractors

Services supplied to a client abroad can qualify as exports if the conditions in the GST law are met, which allows supply under a letter of undertaking without paying IGST. Receipts must come in convertible foreign exchange or as permitted.

Developers engaged as independent contractors are paid under specific TDS provisions that differ from salary, and mislabelling an employee as a contractor creates PF and tax exposure. We classify each person correctly and document the reason.

Common billing models and revenue treatment
ModelWhen revenue is recorded
Fixed-price milestoneOn milestone completion
Time and materialAs hours are worked and approved
Monthly retainerOver the service month
Annual subscriptionSpread over twelve months

See also: Virtual CFO Services, GST Accounting Services, Payroll Processing Services.

What You Get

What Is Included

  • Milestone and retainer revenue recognition
  • Export invoices under LUT and foreign receipts
  • Payroll with PF, ESIC and TDS
  • Contractor and freelancer payments with TDS
  • Client-wise and project-wise profitability
  • GST returns and refund support
Documents Required

Documents Checklist

  • Client contracts and statements of work
  • Invoices and bank remittance advices
  • LUT copy and GST details
  • Payroll data and contractor invoices
  • Cloud, software and hosting bills
  • Bank statements
  • Timesheets for project costing
How It Works

How It Works, Step by Step

  1. Set up

    Clients, projects and currencies

    Days 1 to 3
  2. Record

    Invoices, receipts and costs

    Monthly
  3. Reconcile

    Foreign receipts and TDS

    Days 5 to 7
  4. Report

    Client profitability and MIS

    By the 10th
Sample Output

What Your Monthly Report Looks Like

Every client receives a short, CA-reviewed MIS. A free blank format is available to download with no sign-up: Monthly MIS report format.

Sample monthly MIS snapshot (illustrative figures, not a real client)
LineThis month (Rs.)Last month (Rs.)Comment
Revenue12,40,00011,10,000Up 11.7%
Gross margin31.5%29.8%Better purchase rates
Operating expenses2,95,0002,80,000Rent revision
Net profit before tax95,60052,300Margin improved
Closing cash and bank3,42,0002,60,000Collections on time
Debtors over 90 days74,0001,12,000Two accounts recovered
Transparent Pricing

Accounting Services for IT and Software Companies Fees: Fixed and Transparent

Fee breakdown for Accounting Services for IT and Software Companies
LineAmount
Our professional fee (per month + GST)Rs. 3,500
GST at 18%Rs. 630
Government or statutory feeRs. 0 (none for accounting work)
Total payableRs. 4,130
Monthly plans, by volume of work (fees before GST)
PlanBest forEntries a monthFee a monthWith 18% GST
StarterProfessionals, service firmsUp to 100Rs. 1,500Rs. 1,770
GrowthTraders, small manufacturersUp to 500Rs. 3,500Rs. 4,130
ScaleRetail, restaurants, e-commerce500+Rs. 7,500Rs. 8,850
Add-ons and one-time work (fees before GST)
ServiceFee
Payroll, up to 10 employeesRs. 1,000 a month
TDS accounting and returnsRs. 1,000 a month
Extra bank account reconciliationRs. 1,000 a month
MIS pack with commentaryRs. 2,000 a month
Backlog clean-up, up to 6 monthsRs. 4,999 one-time
Annual accounts and audit supportRs. 9,999 a year
Virtual CFORs. 15,000 a month

Fees are fixed in writing after we review one sample month. Accounting has no government fee; taxes you owe are paid directly to the government.

Client Reviews

What Our Clients Say

G
★★★★★
4.81,000+ clients · View on Google Maps
★★★★★

"Ever since my association, I am impressed with the professionalism and personal conduct of the firm. Clients are made to feel belonging."

RS
Rachana SinghBusiness Owner, Mumbai
★★★★★

"An extremely professional setup, very responsible to all our needs. Strongly recommend for taxation and accounting services."

AD
Abhishek DubeyEntrepreneur, Mumbai
★★★★★

"The best for auditing, finance, and budget analysis. Will consistently give the best possible solution, worth every penny."

MS
Mayur SinkarCFO, Startup, Mumbai
Your CA

Reviewed and Signed by a Practising Chartered Accountant

CA Rinky Vishwakarma, Fellow Chartered Accountant, ICAI No. 177507

CA Rinky Vishwakarma

Signing Chartered Accountant, SVT & Associates
ICAI No.: 177507Fellow CA – ICAI20 years combined experience1,000+ clients served

Fellow Chartered Accountant (FCA) with over 12 years of experience across Big 4 audit, investment banking and independent practice. Personally reviews each client's books and MIS before sign-off, and signs certificates in her capacity as a practising CA.

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FAQ

Frequently Asked Questions

What is a LUT and why does an IT exporter need one?

A letter of undertaking lets an exporter supply services or goods without paying IGST, which avoids blocked cash and a later refund claim. It must be filed on the GST portal each financial year before making zero-rated supplies without payment of tax.

How should freelancers and contractors be paid for TDS?

Payments to independent contractors and professionals fall under specific TDS sections, with thresholds and rates that differ from salary. We check each engagement, collect the contractor's PAN, deduct tax as required and issue certificates, so your expense stays allowable. Contract copies are kept on file for support.

Can you track profitability by client or project?

Yes. Salaries, contractor costs, tools and overheads are allocated to projects using timesheets or agreed percentages, and the monthly MIS shows margin by client. Many firms find that their largest client yields the thinnest margin once support effort is included.

Who prepares and signs the work?

SVT & Associates is an ICAI-registered Chartered Accountancy firm. Every account is supervised and reviewed by CA Rinky Vishwakarma, Fellow Chartered Accountant, ICAI Membership No. 177507. Where a certificate or attest report is issued, it is signed by a practising CA and carries a UDIN.

How quickly can you start?

After a short consultation and receipt of your documents, onboarding usually takes three to five working days, and the first monthly books are delivered within seven days of receiving complete data. If a filing deadline is close, we handle that first and then complete the wider setup.

Is my financial data confidential?

Yes. As a Chartered Accountancy firm we are bound by the ICAI Code of Ethics on professional confidentiality. Your records are accessed only by staff working on your account, are shared through controlled folders or your own software, and are never given to third parties without your written consent or a legal requirement.

Which accounting software do you work in?

We work in your existing software, whether Tally Prime, Tally ERP 9, Zoho Books, QuickBooks or Busy, so you do not need to switch. Your licence and data remain yours at all times, and a full export of your books is available whenever you ask for it.

Are your fees fixed, and are there hidden charges?

Fees are fixed and confirmed in writing after we review one sample month of your data. Our fee and GST are shown on separate lines, and accounting has no government fee. Work outside the agreed scope, such as a backlog clean-up, is priced separately and agreed with you before it begins.

Do you serve clients outside Mumbai?

Yes. Most of our work is delivered online across India, using shared folders, your accounting software, video calls and WhatsApp. Our office is in Goregaon West, Mumbai, where local clients can meet the CA in person, but no visit is needed to start or continue the service.

Can I stop the service if I am not satisfied?

Monthly plans are not locked in, and you can end the service by giving us notice. You will receive your books, reconciliations and working papers in an exportable form. The Refund Policy linked in the footer explains how any advance payment is treated.

Related

Related Services and Pages

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Who signs and issues the work. SVT & Associates is a Chartered Accountancy firm registered with the Institute of Chartered Accountants of India. Accounting, MIS and tax work is prepared under the supervision of CA Rinky Vishwakarma (FCA, ICAI Membership No. 177507). Certificates and attest reports, where issued, are signed by a practising CA and carry a UDIN. Our role in online document collection and delivery is administrative; the professional opinion is the CA's. Fees are shown before 18% GST. We do not guarantee any outcome, approval or sanction by a bank, lender or authority.
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