Please Help: RA BILLS
Posted Date : 07-Jan-2014 , 05:50:03 pm | Posted By ANAND JADHAV
WHAT IS RA BILLS AND HOW IT IS ACCOUNTED IN BOOKS..?
Category : Accounts | Answers : 1 | Comments : 1 | Hits : 218
Answers
Answer By: Vikash Kumar Jha
Running Account Bills : Raised for
periodic payments for an ongoing projects,
periodic payments for an ongoing projects,
Comments
CA Md. Asad Quadri
08-Jan-2014 , 12:38:49 pmRA bill is a running account bill issued by contractors for their progressive work.In case of big contract work, as per contract agreement contractors can issue their progressive bill after achieving certain milestone.They may be monthly or certain percentage of work completion.