This ppt is a comprehensive presentation on various aspects for the entities working in the construction domain. Starting from Tendering to Budgeting and going on to indirect tax aspects like VAT and service Tax.
143. Project Manager to calculate total project material requirement through Bill of Quantity (BOQ).
144. This would be categorized as FIM , Raw / Principle Material, Consumable / Hardware / Tools Material, Capital goods - Plant / Machinery / Equipment
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147. Authorized person should be allowed to raise an indent. The status about present level of stock should also be given.
194. Branches maintain accounts at the construction site itself. Because if we have a smart accountant at the site that would serve as the best internal control measure.
196. Complexity involved is you then need a perfect co-ordination between HO and Branches. Reconciliation between the two is required on a regular basis. As many a times HO would directly be making payment to Branch’s creditors without routing the same through the branch.
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203. Stores Material Receipt entry can be passed from the site provided there is a proper internet connectivity.
204. When the purchase Invoices are received the same are certified by the stores department and the printed MIN is then attached behind the invoices.
205. Accounts then enters the rates of materials picking up the tracking number. Any deviations are settled by way of Debit / Credit Note.
210. Non-Fund based Limits are of great importance in the construction sector, as for any Project that is about to begin, the client is willing to give Mobilisation Advances against Bank Gaurantees.