Summary content

Contracting accounting This accounting is one of the branches of accounting science that is specialized in calculating the costs of huge projects such as (roads - bridges - buildings - and others)

And that is becauseContracting accountingIt is considered an integral part of the cost accounting, which is by which the costs of the project are determined from its inception until the end of the project and its full delivery.

Sometimes the contracting company that wants to enter the tender purchases the brochure of the conditions, which contains all the papers in which it explains the subject of the tender or submitting the primary guarantee.

There are a lot of accounts included in contracting accounting, which I will explain to you.

First: Calculate the project costs

This is in which all the costs and expenses of the project are recorded, and this is given by the different expenses that contain the brochure of conditions.

The cost account is divided into the following items:

And this division is optional, so you can divide it in different ways from that, and this is according to the nature of the project in which you work, and also according to your agreement with your engineering administration and public administration.

And this division is characterized by that it has better control over the project and shows all deviations that occur between estimated costs and actual costs, and this is according to the project's timetable.

Second: Customer account

And this is a record of customer account that is a city for the owner of the project, in which all dues are recorded to pay on the project owner, and this is due to the issuance of a payment certificate with the total of the works.

Third: Calculating the payments provided by customers

This is the first installment that the customer pays when the contract is signed, which is always or often 10% of the amount of the amount prescribed in the contract.

Fourth: Customer guarantee account

And this account includes women With the dedicated that the customer reserved, which is the one that represents the achievements of the completion, and this is in exchange for ensuring the contracting maintenance period agreed upon for the project.

These are all accounts that are included in contracting accounting, which you have explained to you in an easy and simple way.

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I will explain to you a brief summary of the work course in the contracting sector.

Sources of contracting companies are formed on the projects that are being worked out into two sectors, namely:

The project owner (the supervising or owner of the project) makes a tender and is considered as auction and whoever wins it has the right to implement the project.

Then, each company wants to enter the tender by purchasing the brochure of conditions and tender files, and these files include all the details that concern the project in terms of the project site and the number of housing units, for example, the project space, technical, administrative, financial and other matters.

The project submitted in the tender is well studied by the contracting companies that have accepted the purchase of the terms of the conditions and the tender files, which will study the project well and provide good offers and appropriate prices to win the tender and create the project.

. Then the two parties sign the contract and agree to all conditions and the approval of the two parties on the penalty clause if the date is not delivered on the specified date in the contract.

This is a small summary of the course of the work companies working, and I hope that I have explained it to you in the easy and simple way.

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