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Project-wise accounting, head office reconciliation, TDS and GST workings, reporting for the foreign company and audit support through project completion.
150+ Regular Clients · Chartered Accountants and Company Secretaries · Since 2016
A project office in India must keep project-wise books of account, record transactions with the foreign company, prepare audited accounts for its filings, and report to its head office. AU Corporate, a New Delhi firm of Chartered Accountants and CPAs, runs monthly project bookkeeping, bank and head office reconciliations, work in progress and retention tracking, TDS and GST workings, reporting in US GAAP or IFRS, and audit and completion support, for a fixed monthly fee.
Written and reviewed by Abhishek Jaiin, Chartered Accountant (ICAI Membership No. 544646) · Last reviewed: 9 October 2026
A project office accounts for one contract, so costs, milestones, retention and tax must be tracked per project, and completion accounts are needed to remit the surplus — see the Project Office Registration guide for how this fits into the wider compliance picture.
AU Corporate runs the cycle for you: bookkeeping, month-end close, reporting and audit coordination, reviewed by Chartered Accountants.
The accounting steps a project office follows each month, plus audit support once a year.
Contract revenue, subcontractor costs, expenses and payroll recorded project-wise.
Every bank account matched to the books, including remittances from the foreign company.
Funds received and charges from the foreign company recorded and reconciled.
Milestones, retention money, advances and guarantees tracked.
Tax to be deducted and net GST liability, with due dates flagged.
Monthly pack in US GAAP, IFRS or your group format.
Audited accounts, tax audit schedules, the Annual Activity Certificate and completion accounts.
Five items to get started. Share them on day one, and onboarding is typically complete in about 3 days.
Bank statements or read-only access, and your existing accounting files.
The contract, milestones and project budget.
Invoices, bills, subcontractor bills and payroll inputs each month.
Your chart of accounts, template and closing calendar.
One person who approves payments and answers our queries.
The same steps every month, so your head office knows when to expect the numbers.
Record the month's transactions.
Reconcile each bank account.
Update work in progress and retention.
Calculate TDS and GST.
Send the pack to the head office.
Fixed monthly fee, confirmed in writing before we start.
Not included: the auditor's own fee, government fees, and filing of tax returns, which are separate services from the same team — see Project Office Tax, GST and Transfer Pricing.
Your project office accounts, tax returns, RBI filings and ROC forms must agree with each other. The same team handles each of them.
Straight answers to the questions foreign finance teams ask most about a project office in India.
Written and reviewed by Abhishek Jaiin, Chartered Accountant (ICAI Membership No. 544646) · Last reviewed: 9 October 2026
This is general guidance based on Indian law and practice as at the date above. It is not advice for your specific case, and rules can change.
Tell us about your project office's reporting format and head office requirements, and our team will confirm onboarding and a fixed monthly fee.