Dear all,
I am an Accountant. These days i as handling the Accounts of a construction company. The company has the work going on various sites. The head persons on these sites are not well educated or less caring. They simply purchase the thinghs they need e.g.wire, petrol, diesel, and other suttering material & provide no bill for the same.
Similarly, we have to purchase sand, cursher and other shuttering material from the local persons who do not provide us any kind of bill.
There is labour which is paid weekly, advance is given to them. There is no record except the daybook is kept for the payments.
We have hired sub-contractors also, who are not regular income tax payer. They simply provide us the bill and we pay accordingly.
Now, My querry is that how to enter these type of expenses in our account books.
Please dear friends suggest me to what to do ?
CAclubindia
