Interest on mobilization advance
This query is : Resolved
Raja Banerjee
(Querist)
23 May 2014
I would like to have an opinion on accounting treatment of interest levied on mobilization advance given to the contractor. Should it be treated as a "Miscellaneous income" or should it be reduced from Capital Works in Progress as and when it is recovered from RA Bills of the contractor?
Rupesh Jain
(Expert)
23 May 2014
it should be show as your income as misc income or interest income.
Message likes :
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Raja Banerjee
(Querist)
23 May 2014
Thank you very much Sir for your clarification.
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