Sole proprietors and partnership firms often need accounting that keeps business transactions, owner/partner balances, bank accounts, expenses, taxes and management reporting organised. CorporateWalla can support proprietors and partnership firms with bookkeeping, bank reconciliation, receivables/payables, partner or proprietor account tracking, month-end close and management reporting based on the records and scope agreed.
Proprietorship and partnership accounting involves recording business transactions and maintaining financial records for owner-managed businesses.
Partnership accounting may require additional tracking of partners' capital, current accounts, drawings, interest or remuneration where applicable and supported by the partnership arrangement and applicable tax rules.
A proprietorship has no separate legal entity distinct from the proprietor in the same way as a company, so personal and business transactions should be appropriately identified and separated for accounting purposes.
Depending on scope:
For sole proprietors, reporting may include:
Personal transactions should not be treated as business expenses merely because they pass through a business bank account.
Depending on the partnership arrangement:
The partnership deed and applicable law should be reviewed before applying specific partner accounting or tax treatment.
Partner-related transactions can include:
| Transaction | Accounting Consideration |
|---|---|
| Capital introduced | Partner capital |
| Drawings | Partner drawings/current account as applicable |
| Partner loan | Separate loan/advance classification where appropriate |
| Interest on capital | Depends on deed and applicable rules |
| Remuneration | Depends on deed and applicable tax rules |
| Profit allocation | Based on agreed profit-sharing arrangement and applicable requirements |
Not every payment to a partner is automatically deductible, and not every partner withdrawal is a business expense.
Accounting records may support separate compliance such as:
These are separate compliance services unless specifically included.
Tax treatment depends on the entity, transactions, tax year and applicable law.
Possible reports include:
The final reporting pack should be customised to the business.
Businesses may face:
A reconciliation difference should be investigated using source documents before adjustments are posted.
Possible systems include:
Specific integrations or automation should be technically verified.
Pick the speed and depth that matches your need. Same quality, same CA team — only the timeline changes.
Timeline: Quoted on transaction volume
Timeline: Quoted on partners, bank accounts and volume
Timeline: Quoted on locations, cleanup and reporting frequency
Every price above is a professional fee, excluding GST and government charges. 50% on delivery.
Pricing is scope-based. The quote depends on transaction volume, entity type, number of partners, number of bank accounts, GST/TDS complexity, historical cleanup, accounting software, reporting frequency and number of business locations. All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.
Obtain bank statements, sales, purchases, expenses and other agreed records.
Post transactions into the accounting system.
Compare accounting records with bank statements.
Review customer and supplier balances.
Check capital, drawings, loans and other partner/proprietor transactions.
Complete agreed reconciliations and adjustments.
Prepare agreed reports for the proprietor or partners.
Tell us your requirement, a CA will call you in 30 minutes.
Personal transactions are identified rather than treated as business expenses merely because they pass through a business bank account.
Capital, current accounts, drawings, partner loans, interest and remuneration recorded in line with the partnership deed.
Banks, customers and suppliers reconciled, with differences investigated using source documents before adjustments are posted.
Monthly P&L, Balance Sheet, cash-flow summary, ageing and partner balance reports customised to the business.
From ₹4,999 • Monthly
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From ₹2,499 • Monthly
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From ₹2,499 • Monthly
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From ₹999 • Monthly / Quarterly
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Custom quote • Scope-based
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From ₹999 • 48 hours
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From ₹9,999 • 15–30 days (indicative)
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From ₹6,999 • Monthly
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