Ledgers to Maintain

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Executive
188 Points Posted on 11 January 2021

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 

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On 11 January 2021 at 16:16 Report
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This discussion focuses on the crucial ledgers a small local civil contractor firm needs to maintain. It covers essential accounts such as services, commission, cash, bank, and expense ledgers. The advice also touches upon managing TDS and GST, labour payments, loans, and preparing key financial statements like profit and loss accounts and GST reconciliation.

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Chartered Accountant
16188 Points Posted on 11 January 2021
For contractor business you need to maintain all services ledgers, commission ledgers, cash and Bank ledgers, trading and profit and loss statements,Tds statements,Gst reconciliation statement and summaries and certain other major expenses ledgers
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On 11 January 2021 at 16:37
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Advisory & consultancy Services
26 Points Posted on 12 January 2021

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   

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On 12 January 2021 at 10:27

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