banner_ad

Prepaid ecpenxse

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 January 2012 My client is providing service for SAP to external clients. They are also purchasing service (SAP) from other external clients.Eg. Client is providing service for the period Dec 2011 to Nov' 2012 and they are receiving contract amount for the full period. Quetion arises whether the amount received for the months subsequent to financial year 2011-2012(i.e from April 2012 to Nov'12) should be charged as Advance received (or prereceived)?? Plz Advice...
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
19 January 2012 Since the amount received covers two different accounting periods the amount received shall be apportioned to both the accounting years.

Amount for 8 months from April to Nov shall be shown as advance receipt.
Profile Image

CA Shiv

Profile Image

CA Shiv (Expert)
19 January 2012 It will be considered as Advance Recd only for the portion of the next year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details