IT and ITes Companies Bookkeeping and Accounting

Accounting performs a vital role in the success and sustainability of IT (Information Technology) and ITEs (Information Technology-enabled Services) companies.

IT and ITES companies usually have diverse revenue streams, which include software licenses, subscriptions, maintenance contracts, and consultations.

IT and ITES companies frequently enter into complex contracts that involve multiple elements, such as software licenses bundled with implementation services or maintenance contracts.

These companies may possess valuable intellectual property assets like patents, copyrights, and trademarks.

Tracking and allocating costs to specific projects can become complex, especially when shared resources or overlapping activities are involved.