Accounting & Bookkeeping Setup in Nepal
Setting up a proper accounting system from the start is one of the most important things a new business can do. A clean Chart of Accounts, the right accounting software, and a consistent monthly process ensures your finances are always accurate, audit-ready, and tax-compliant.
What Does an Accounting Setup Include?
A proper accounting setup for a Nepali business includes:
- Chart of Accounts: The structured list of all accounts used to record financial transactions (assets, liabilities, income, expenses)
- Software configuration: Setting up Tally, Swastik, QuickBooks, or other software with your company details, fiscal year, and tax settings
- Opening balances: Entering the starting financial position if your business already has history
- Invoice templates: Creating VAT-compliant invoice formats for sales
- Monthly process: Defining how transactions will be recorded, reconciled, and reported each month
- Staff training: Training your accountant or admin on using the system correctly
Choosing the Right Accounting Software
Tally / TallyPrime: Most widely used in Nepal. Supports VAT, TDS, payroll, and multi-currency. Works offline. Preferred by IRD auditors.
Swastik / FACT: Nepali-specific accounting software with built-in OCR and IRD report formats. Popular with smaller businesses and CA firms.
QuickBooks / Zoho Books: Cloud-based options suitable for businesses with remote teams or multiple locations. Requires adaptation for Nepal tax formats.
Excel: Suitable for very small businesses. Lacks audit trail and is not recommended for VAT-registered businesses.
Step-by-Step Process
- 1
Business assessment
We understand your industry, transaction volume, VAT status, and team size to recommend the right software and process.
- 2
Chart of Accounts design
We design a Chart of Accounts tailored to your business and Nepal's tax reporting requirements.
- 3
Software installation and configuration
We install and configure the chosen accounting software on your computer or cloud, including company profile, fiscal year, and tax settings.
- 4
Opening balance entry
For existing businesses, we enter all opening balances and historical transactions to bring your books current.
- 5
Process documentation and training
We document the monthly accounting process and train your team to record transactions correctly.
- 6
First month review
After the first month, we review all entries, reconcile accounts, and fine-tune the process.
Start Right — Don't Backtrack
The most expensive accounting work is cleaning up poorly maintained books. Businesses that set up their accounting correctly from the beginning save tens of thousands of rupees in cleanup costs, penalties, and audit preparation. Chartered Corporate's one-time setup service is designed to give your business a clean, compliant start.Need help with this process? Chartered Corporate Business Consulting handles it all for you — from start to finish.