Vendors Quotation entry

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Prapti (Querist)
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26 May 2023 Hello, I had an doubt regarding when the vendors quotation's are to be included in the pnl account. We are interior designers who also undertakes civil work and for the same we hire vendors ( labour basis) temporary to get the particular work done. Now we take advances from the client and aslo provide further advances to vendors to get the work done. Labours are direct expense for us. Many a times we receives the quotation before they starts with the work. So when should I add those expenses to COGs/ direct expenses?

Prapti

Prapti (Querist)
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26 May 2023 Also let me know if they work partly and collect cash for the work done. How expenses to be recorded?

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