Setting Up Financial Processes in a Startup: How Would You Approach It?

Dear Seniors, I work for a software company; it's a startup organization. I have been asked to set up basic financial processes for our new company. I would like to request each one of you to help in setting up the process.

Thanks in advance

Financial Processes to Implement

Financial processes include:

• HR - ESI and PF registration
• Professional tax registration
• PAN registration
• Service tax registration
• Sales tax registration
• TDS payment and return filing online - purchase a software
• Service tax payment and return filing online
• Accounting software - which will include mainly every aspect of accounts
• Appoint a person who is conversant with these aspects
• Have a better MIS system in place
• Take a monthly trial balance without fail
• Keep a deadline for all the payments and receipts every month and close the books every month incorporating all the business transactions.

Regards,
Sriprathyaksha