Track the financial performance of each project with a structured accounting process. CorporateWalla provides project accounting support covering project cost capture, billing and receivable reconciliation, work-in-progress reporting, project profitability analysis and project-level MIS.
Project accounting tracks revenue, costs, billing, collections and other financial information at the project, job, contract or assignment level. It helps management compare project budgets or expected costs with actual performance and identify variances.
The appropriate treatment depends on the business model, contract terms, accounting framework and quality of project data.
Project accounting can be useful for:
See also construction accounting, professional services accounting and agency accounting.
Track agreed project revenue against project costs, billing milestones and management-defined profitability measures. Revenue recognition must follow the applicable accounting framework and actual contract facts.
Project reporting can connect recorded employee/contractor time, reimbursable costs and billing data, subject to the client's agreed billing model.
Project reports may include WIP, advances, costs incurred, billing and other project metrics. The accounting treatment of revenue and WIP should be determined under the applicable framework rather than assumed from project duration alone.
For internal initiatives, reporting can track approved budgets, personnel costs, vendor spend and other project expenditure for management purposes.
Depending on the engagement, outputs may include:
Project accounting does not automatically determine the accounting treatment of revenue, WIP, contract assets, contract liabilities, provisions or other items. These depend on the applicable accounting framework, contract terms and facts.
Project accounting support is also not automatically a statutory audit, tax audit, valuation, certification, engineering cost certification, quantity survey, legal contract review or independent assurance opinion.
Physical site inspection, measurement certification, technical progress verification and legal recovery are separate services unless specifically scoped.
Project accounting is generally scope-based. The fee depends on the number of projects, transaction volume, reporting frequency, data quality, accounting-system structure, complexity of allocations and required MIS.
Pick the speed and depth that matches your need. Same quality, same CA team — only the timeline changes.
Timeline: Quoted on number of projects and system structure
Timeline: Quoted on transaction volume and reporting frequency
Timeline: Quoted on allocations, data quality and MIS depth
Every price above is a professional fee, excluding GST and government charges. 50% on delivery.
Project accounting plans are customised to your project volume, accounting complexity and reporting requirements. The quote depends on the number of projects, transaction volume, reporting frequency, data quality, accounting-system structure, complexity of allocations and the MIS required.
Review projects, customers, contracts, billing models and reporting requirements.
Establish a consistent way to identify project-related transactions.
Organise payroll, contractor, vendor, material, travel and other relevant costs.
Compare invoices, advances, credit notes, receipts and customer balances.
Produce project cost, budget-versus-actual, WIP or profitability reports as applicable.
Identify significant cost, billing or margin movements for management review.
Update project-level reporting on the agreed monthly or periodic schedule.
Tell us your requirement, a CA will call you in 30 minutes.
Project-wise income and cost statements and profitability reports on an agreed methodology.
Invoices, advances, credit notes, receipts and customer balances compared with the accounting records.
Project budgets compared with actual costs, with significant variances flagged for management review.
Project reports reconciled with the financial accounting records so management works from one set of numbers.
Custom quote • Scope-based
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Custom quote • Monthly
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Custom quote • Monthly
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Custom quote • Scope-based
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From ₹12,999 • Monthly
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Custom quote • Scope-based
View details →
Custom quote • Monthly
View details →
From ₹9,999 • Monthly
View details →
