26 June 2013
When u swipe your credit card, i understand that money will be credited on next day in ur bank account. Since customer has given the money, there is no question of receivable from the customer. Hence, this cannot be disclosed as a "Trade Receivable". But since u have not realised cash in ur account, it may be appropriate to disclose the same as "Cash in Transit" in Cash and Cash equivalents note. PS: Give a reference to cash in transit that this amount is receivable on account of credit card transactions.
CAclubindia
