Account Maintenance for LLPs Proper account records must be maintained by all Limited Liability Partnerships based on revenue and accrued funds after incorporation. As opposed to Private Limited Companies that are only expected to have a record of accounts based on accrued funds. LLPs can also maintain a record of account based on revenue. The Registered Office of the LLP will be responsible for maintaining the record of account for the LLP, which will comprise all the details of income and expenditure, liabilities and assets, inventories, statement of COGS and statement of end products. All LLPs are expected to have their financial statements prepared in not more than six months from filing for the RoC, at the end of a financial year.