How to keep records in construction

In order to properly conduct accounting and tax accounting in construction, it is necessary to take into account the specifics of this industry and apply normative documents regulating the procedure for recording business operations in the accounting of construction organizations.

Instruction manual

1

Develop and approve, by order of the head, an accounting policy taking into account the specifications of the construction organization. Define the accounting for expenses in the document. Set also the procedure and timing of the inventory of property.

2

Make out separate subdivisions (branches) in the tax inspection at the location of the construction sites, if the construction projects of the organization are located in different regions. Determine the order and timing of the transfer of primary documents from these units.

3

Use for fixing committed business operations the Standardized Unified Forms of Primary Documents in force in construction (Decree of the State Statistics Committee of 11.11.1999 No. 100 "On the Approval of Unified Forms of Primary Records for the Accounting of Works in Capital Construction and Repair and Construction Works").

4

Reflect the research, development work in accounting with the following entries:

- Debit of account 08 "Investments in non-current assets", Credit of account 60 "Settlements with suppliers and contractors" - expenses for the acquisition of intangible assets were taken into account;

- The debit of account 04 “Intangible assets”, Credit of account 08 “Investments in non-current assets” - intangible assets are accepted for accounting.

5

Include in tax accounting the costs of research and development in other expenses evenly for one year, provided that they are used in production from the first day of the month following the month in which such studies are completed (Article 262 of the Tax Code of the Russian Federation).

6

Reflect the costs for each object in the work in progress from the beginning of the work to the end of the construction (PBU 2/94 "Accounting for contracts (contracts) for capital construction"), if the organization performs work under a contract.

7

Take into account the costs of the facility on account 20 "Main production, if the organization is a contractor or investor. Open subaccounts to this account by each customer and construction project. Write off the cost of the facility to account 43" Finished products "upon completion of construction.

8

Keep a record of costs on account 08 "Investments in non-current assets", if the organization is a developer. After completion of work, write off the value of the object by posting: Debit of account 01 "Fixed assets", Credit of account 08 "Investments in non-current assets".

• The main regulatory documents governing accounting in construction
• how to keep accounting
• Challenges of construction accounting