About contraction exp and Construction value

Pass  Advance entry

Bank   A/c  Dr

To Advance Construction work   A/c  Cr

( being advance received  )

Adjust Advance when full payment  received

Expenses related  to construction  show  under Direct  Expense  and remaining show as Indirect Expense in 

Profit and loss Account  

how to pass journal entry receivable amount under which head???

 

When you issue Invoice after completing construction work pass receivable entry

Trader Debtor's A/c Dr
To Construction work (sales)
( Booking of sales entry)

when you receive balance payment

Bank account. A/c Dr
Advance const work A/c Dr
To Trade Debtor's A/c Cr
( payment received after advance adjustment)

If GST applicable create input and output leaders
show necessary debit , credit .

same entry for the part amount received  as per contract paper(50%,40%,10%)  when we make invoice

 

If you are receiving 50,40,10 =100% as advance payment then , same entry after Invoice , only adjustment entry , (Advance A/c Dr and Trade Debtor's A/c credit .)

thank you for your help sir