HI
Could someone help me
I am working in small local civil contractor firm What ledgers i need to maintain and entries to pass
We get contract and we receive money for the civil work
there is TDS deducted and we also deduct TDC for labour paymnet
beside that we have GST to be paid and recieved
and some loans and OD
prepare the receipt & payment accounts summarizing the data available based on that u can prepare the ledger
broadly u has to maintains contractual receipts ledgers cash, bank , expenses, labour charges you \outsourced & loans you had availed
CAclubindia
