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riddhi (Querist)
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20 May 2015 Do we need to book the invoice first and then the receipt entry? or directly we can pass the receipt entry?

Our company received fees from 1 client and they have sent the invoice for that so should we book the invoice also?

Client
to gross receipts

bank
to client

is this the way

or

bank
to income

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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20 May 2015 Client dr.
To income head

Bank dr
To client

is the right way

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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20 May 2015 yes you can receive the money first and then also book the invoice...

because sometimes, bills came late in compare to payment in banks...

so til the invoice booked, it wil b treated as advance received

riddhi

riddhi (Querist)
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20 May 2015 we have made the invoice and issued it to the client so can i book only

bank
to income

riddhi

riddhi (Querist)
Follow

20 May 2015 we have made the invoice and issued it to the client so can i book only

bank
to income

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

20 May 2015 nopes.. stil u need to book the invoice first then make the receipt entry

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