Entries that post themselves
Construction accounting goes wrong when site records and books are kept separately. In Sampraxis they are one:
| What your team records | What reaches the books |
|---|---|
| Vendor bill against a GRN | Material cost, input GST and the vendor's payable |
| RA bill certified | Client receivable, contract revenue and output GST |
| Petty cash voucher | Site expense against the petty cash balance |
| Wages paid | Labour cost for the project against cash or bank |
| Payment to a vendor or subcontractor | Payable cleared, TDS recorded, bank reduced |
| Receipt from a client | Receivable cleared, retention and TDS held, bank increased |
Construction accounting reports by project and for the firm
- Project P&L and company P&L, trial balance and balance sheet
- Work-in-progress (WIP) schedule and budget against actual
- Receivables and payables ageing, so you know who owes what and for how long
- Vendor ledger confirmations and an audit trail of changes
Petty cash and wages from site
Site cash is where most leakage hides. Petty cash vouchers and wage payments are entered at site on the phone, approved, and posted to the right project — no envelope of bills at month end.
Bank reconciliation, fixed assets and year-end
Reconcile bank statements with the books, keep machinery and equipment in a fixed-asset register with depreciation, lock past periods, and close the financial year with the GSTR-9 figures ready — see GST billing.
Corrections by reversal, never by overwriting
Money is never changed silently. A posted entry that turns out to be wrong is reversed and re-entered, and both steps stay on record with who made them. Your CA sees the same history you do.