Friday, May 27 2005 08:17 Hrs (IST) - World Time -

Bangalore: A Value Added Tax (VAT)-intelligent, trading-inventory accounting software - 'balance' - was launched yesterday (May 26, 2005) by information technology solutions provider Source Code International.

The in-built VAT intelligence of the software provides a means for small traders and merchants to keep their records VAT compliant, without having to delve into the intricate VAT rules, the Bangalore-based company said.

The company's CEO Niraj Jaipuria said they are looking at sales of 10,000 copies of 'balance', valued at Rs 5 crore, in the first year.

Single user edition is priced at Rs 5,000. Multi-user edition, which is yet to be launched will carry a price tag of Rs 10,000, he said.

The software is currently available in English and Kannada, and the Hindi version is expected to be launched in two months time; thereafter it would be launched in different Indian languages at regular intervals, Jaipuria said.

He said 'balance' allows users to enter their purchase and sale transaction in data entry screens similar to a manual billing interface, ensuring a low learning curve.