If a company make a sale or provides any service to any client and invoice has not been raised then how it will be accounted in books of accounuts at the end of financial year?
Kindly suggest
shailesh (student) (27 Points)
30 July 2017If a company make a sale or provides any service to any client and invoice has not been raised then how it will be accounted in books of accounuts at the end of financial year?
Kindly suggest
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 30 July 2017
Chinmay
(Accounts Professional)
(356 Points)
Replied 17 August 2017
Hi, as per my point of view you need to accrued this revenue by credited to revenue account & debited to Income Accrued Account (Current Asset). Next financial year just simply debit to customer & credit to Income Accrued Account...
Please correct me if I'm wrong...
shailesh
(student)
(27 Points)
Replied 25 August 2017
I also asked the same thing with Mr Giridhar but he told its not correct, and i think he is right
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3979 Points)
Replied 26 August 2017
If invoice is not raised, no question of accounting entry.
durga bhai
(2 Points)
Replied 10 November 2018
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)