According to the standards and tax requirements, this kind of project should recognize revenue according to the completion rate, and report and pay relevant taxes at the same time according to the revenue recognition

Usual accounting can set up labor cost accounts or engineering construction and Project settlement accounts, these accounts are cost accounts, and their main sanctions are assets. The ending balance in the balance sheet is reported in the inventory

The main business costs are carried forward every month according to the costs and expenses corresponding to the income. Calculate profit and loss

Financial staff may not be clear about the completion progress.

There are generally two methods of data processing:

1. Project progress reports are required to be reported at the end of each period. The share is given to finance, and finance recognizes revenue according to this report

2. Revenue is recognized directly according to the progress specified in the project contract

3. Finance estimates revenue based on the percentage of actual cost to budgeted cost.

For specific accounting processing, it is recommended to download the "Appendix to Accounting Standards for Business Enterprises - Accounting Accounts and Main Accounting Processing" document to check the usage of the above related accounts