First-Time Founder? Here’s How to Set Up Your Accounting Without Losing Your Mind

CA Yashwanth
Jun 3
2 min read

Updated: Jun 5

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The First-Time Founder's Accounting Checklist (India)

If you’re a first-time founder, you’ve probably been told to “keep your books clean” but no one ever explains how. Between building your product, onboarding clients, and chasing payments, accounting ends up buried at the bottom of your to-do list… until a GST deadline, due diligence, or a tax notice shows up.

And when it does, things get messy fast.

Why Accounting Shouldn’t Be an Afterthought

In the early stages, many startups manage finances using Excel sheets, WhatsApp receipts, and a shared folder nobody remembers to update. It works, until it doesn’t. You realize:

You can’t track your cash flow
Your CA is asking for documents you don’t have
You don’t know what taxes you’re liable for
Your investor asks for a report you can’t generate

Bookkeeping isn’t just about filing taxes. It’s about giving yourself the clarity to grow. Clean books = informed decisions, confident investors, and fewer last-minute fires.

What Should You Set Up First?

Let’s break it down. As a founder, here are the non-negotiables to set up early on:

Use an accounting system — Zoho Books, Tally, QuickBooks, or even a clean Excel template
Open a dedicated business bank account — don’t mix personal and business
Create a monthly routine — reconcile your books, track payments, file returns
Understand your tax responsibilities — GST, TDS, ROC, and ITR obligations
Think ahead — prepare simple reports like P&L and Cash Flow monthly

Free Download:

The First-Time Founder’s Accounting Checklist (India)

To make it easier, I’ve put together a short and simple checklist you can use as your starting point.

What it covers:

Essential bookkeeping tools
Monthly bookkeeping habits
Questions to ask your first accountant

📥 Download the checklist here

Pin it to your wall or share it with your team

it’s designed to help you avoid costly mistakes from Day 1.

You Don’t Need to Be a Finance Pro

You just need the right systems and a bit of consistency.

Whether you plan to outsource bookkeeping or do it in-house, this checklist will give you a clear path forward. You’ll stop relying on guesswork and start building a business that’s fundable, audit-ready, and truly under control.