Maitating of accounts in projects construction field
This query is : Resolved
22 February 2018
Sir,
In a construction company if 2 or three project works is going on,which ACCOUNTING PROCEDURE is suitable?
I think If I do cost center vise...its OK...But my friend ,he is also accountant saying that site vise passing the entries is good.If I follow that system I think we should pass double entries in head office books as well as in site books for every transaction.
if we choose cost center vise system we can easily book all entries in HO books by maintaining cost center vise.
I hope any experts will suggest in this above subject little broadly.
Thanks
In a construction company if 2 or three project works is going on,which ACCOUNTING PROCEDURE is suitable?
I think If I do cost center vise...its OK...But my friend ,he is also accountant saying that site vise passing the entries is good.If I follow that system I think we should pass double entries in head office books as well as in site books for every transaction.
if we choose cost center vise system we can easily book all entries in HO books by maintaining cost center vise.
I hope any experts will suggest in this above subject little broadly.
Thanks
22 February 2018
Thank you very much sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
