India Artist Management Toolkit — Money Kit
If you are formally setting up your music career as a business — whether as a sole proprietor, partnership, LLP, or private limited company — this template captures your financial starting position on Day 1. It tells you what you are bringing in, what you owe, and what cash you have available to operate.
When to Use This
- When formalising your music career as a business entity for the first time
- When separating personal and business finances with a dedicated business account
- When onboarding a partner, manager, or investor who needs to see starting position
- When your CA asks for opening balances to start formal bookkeeping
Business Details
Business Name: ___________________________ Legal Structure: Sole Proprietor / Partnership / LLP / Pvt Ltd Date of Formation / Registration: ___________________________ Business PAN: ___________________________ GSTIN (if registered): ___________________________ Business Bank Account No.: ___________________________
Ifsc: ___________________________
Financial Year Start: April 1, ___________ Opening Balance Date: ___________________________
Opening Assets
Cash and Bank
Business bank account (opening deposit) ₹ ___________ | Notes: ___________________________ Cash float ₹ ___________ | Notes: ___________________________ UPI / payment gateway float ₹ ___________ | Notes: ___________________________
Total Cash and Bank ₹ ___________
EQUIPMENT (brought into business on Day 1)
Musical instruments Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________ Recording / studio equipment Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________ Laptop / computer Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________ Microphones / audio interfaces Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________ PA / live sound equipment Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________ Other Description: ___________________________ | Purchase price: ₹ ___________ | Current value: ₹ ___________ | Notes: ___________
Total Equipment Current Value ₹ ___________
Note: If you are bringing personal equipment into the business, value it at current resale price, not purchase price.
INTELLECTUAL PROPERTY (brought into business)
Music catalogue (masters owned) Estimated value: ₹ ___________ | Notes: ___________________________ Publishing rights (IPRS registered) Estimated value: ₹ ___________ | Notes: ___________________________ Domain name / website Estimated value: ₹ ___________ | Notes: ___________________________ Brand / logo Estimated value: ₹ ___________ | Notes: ___________________________
Total Ip Assets ₹ ___________
RECEIVABLES (money owed to you on Day 1)
From: ___________________________ | Invoice no.: ___________ | Amount: ₹ ___________ | Due date: ___________ From: ___________________________ | Invoice no.: ___________ | Amount: ₹ ___________ | Due date: ___________ From: ___________________________ | Invoice no.: ___________ | Amount: ₹ ___________ | Due date: ___________
Total Receivables ₹ ___________
Total Opening Assets: ₹ ___________
Opening Liabilities
Personal loan (moved to business) To whom: ___________ | Outstanding: ₹ ___________ | Interest rate: _____% | Monthly payment: ₹ ___________ Equipment finance / hire purchase To whom: ___________ | Outstanding: ₹ ___________ | Interest rate: _____% | Monthly payment: ₹ ___________ Advance from label or partner To whom: ___________ | Outstanding: ₹ ___________ | Interest rate: _____% | Monthly payment: ₹ ___________ Money owed to studio / vendor To whom: ___________ | Outstanding: ₹ ___________ | Interest rate: _____% | Monthly payment: ₹ ___________ Tax dues outstanding To whom: IT Dept | Outstanding: ₹ ___________ | Interest rate: N/A | Monthly payment: ₹ ___________ Other To whom: ___________ | Outstanding: ₹ ___________ | Interest rate: _____% | Monthly payment: ₹ ___________ ──────────────────────────────────────────────────────────
Total Opening Liabilities ₹ ___________
Owner's Equity (Opening Capital)
Opening Capital = Total Assets - Total Liabilities
Total Opening Assets: ₹ ___________ Total Opening Liabilities: ₹ ___________ Opening Capital / Owner's Equity: ₹ ___________
First 90 Days Operating Budget
Plan for the first 3 months of business operations. This covers the period before income is predictable.
Month 1 planned expenses: ₹ ___________ Month 2 planned expenses: ₹ ___________ Month 3 planned expenses: ₹ ___________ Total 90-day operating budget: ₹ ___________
Minimum cash reserve needed to start: ₹ ___________ (ideally 3 months of expenses) Cash available on Day 1: ₹ ___________ Gap (if any): ₹ ___________ (must be funded before launch)
Business Registration Checklist (India)
Sole Proprietorship (simplest — most independent artists start here):
- PAN card (personal PAN doubles as business PAN for sole proprietors)
- Open a separate business current account (many banks offer free current accounts for proprietors)
- GST registration if turnover is expected to exceed ₹20 lakh/year
- Udyam registration (MSME) for free — benefits include easier bank loans, government tenders
One Person Company (OPC) or Private Limited:
- Register on MCA portal (mca.gov.in) — requires a CA / CS
- Director Identification Number (DIN)
- Digital Signature Certificate (DSC)
- Company PAN and TAN
- Registered office address
LLP (Limited Liability Partnership — good for artist + manager pairs):
- LLP registration on MCA portal
- Partnership agreement
- DPIN for all designated partners
- Separate LLP PAN
Note: Most independent musicians operate as sole proprietors. LLP or Pvt Ltd is worth considering when revenue exceeds ₹25 lakh/year or when bringing in a formal business partner.
Free to use · Part of the Indie Music India toolkit · Updated September 2026