The one system your business needs.
Billing, GST, stock, purchase and sales in one open source system. One price per company, every app included, AI on your own key.
- Every app included, one price per company
- GSTR-1/3B, e-invoicing and e-way bills built in
- AI on your own key, or on your own servers
A person on our team replies. The reply time is on your quote.
Accounting for Construction Companies
Construction accounting requires job costing, percentage-of-completion revenue recognition, retention tracking, and the ability to manage dozens or hundreds of active projects simultaneously. Every project is a profit center, and understanding the financial health of each project in real time determines whether the company is profitable overall. Cost overruns on one project can erase the profit from several others if not detected and addressed quickly.
Industry Solution
Construction
Feature
Accounting
Why Construction teams run Accounting in OneYukti
The Accounting app for Construction provides job cost accounting that tracks costs against budgets at the cost code level. Labor, materials, equipment, and subcontractor costs are coded to specific project activities, and the system compares actual costs to the original estimate continuously. When costs in any category exceed the budget, the project manager and accounting team are alerted immediately rather than discovering the overrun at month-end reporting.
Percentage-of-completion revenue recognition is calculated based on the cost-to-cost method, units-of-delivery method, or milestone method depending on the contract type and your firm's accounting policies. The system maintains the working schedules that auditors require, tracks over- and under-billings, and produces the disclosure information needed for financial statement notes related to long-term contracts.
Retention receivable and payable tracking manages the cash flow impact of held retainage. Construction contracts typically withhold a percentage of each payment until project completion. Yukti tracks retention earned on receivables and retention owed to subcontractors, and shows the timing and amount of retention releases. Cash flow management depends on this because retention represents significant working capital.
Construction challenges that Accounting solves
Common problems in construction operations that Accounting in Yukti addresses
Challenge 1
Job cost overruns are discovered at month-end reporting rather than when they occur, making corrective action harder
Challenge 2
Percentage-of-completion revenue recognition requires manual calculations and working schedules that auditors frequently question
Challenge 3
Retention receivable and payable tracking is disconnected from cash flow planning, causing working capital surprises
How Accounting in Yukti helps Construction
What construction organizations using Yukti get from the app
Benefit 1
Real-time job cost tracking with budget variance alerts enables immediate corrective action when overruns begin
Benefit 2
Automated percentage-of-completion calculations with auditor-ready working schedules and over/under-billing analysis
Benefit 3
Retention tracking for both receivables and payables provides clear visibility into timing and amounts for cash flow planning