Having studied 12+ credit hours of accounting in college, and done accounting for 2 companies, I would recommend hiring a part-time / consulting accountant. Wh

Having studied 12+ credit hours of accounting in college, and done accounting for 2 companies, I would recommend hiring a part-time / consulting accountant. While you are probably more than capable of doing basic double-entry accounting, it is a huge nuisance and a mistake can get you into trouble. Your time, as a founder, is better spent growing the business than dealing with the annoyances of accounting, reconciliation, reporting, and taxation. The hired accountant will suggest software packages with which they prefer to work. Lastly, India may present a different scenario, but consider having payroll and benefits handled by a firm like ADP or TriNet -- even if you hire a consulting/part-time accountant. The quickest way to get in trouble with federal government is to make a mistake on payroll tax withholding/reporting. My 2 cents...