How to enter last year invoice payment for this year

Save Share

This query is : Resolved

Srimannarayana (Querist)
Follow

04 June 2015 Greetings of the Day

In my Company we have raised an Invoice 14thDecmber2014. we got 80%payment in the FY 2014-15. remaining 20% payment got in 01st May how to enter this. Please let me know

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

04 June 2015 when you close the books of accounts for the year 2014-15, the due amount is carried forward as the DEBTOR.
The remaining 20%, when received in the year 2015-16, can be credited to the said debtor's account in the year 2015-16

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now