HOUSE CONSTRUCTION PAYMENT

house construction paid to amount contracter
contractor amount ledger pls

this type of amount add in house building fixed assets amount or any ledger plz guide
thanks in advance
Replies (5)
Quick Summary
This discussion clarifies how to record payments made during the construction of a personal house. The advice given is to debit all related expenses under a single ledger titled 'Personal House Property', unless the payment is an advance. This method ensures all costs are properly tracked for accounting purposes.

Are you builder or the house is for personal use?

Personal use

Go on debiting all such expenses under one leger 'Personal House property', unless it is advance.

Ok sir thanks

You are welcome.            

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