Provision

This query is : Resolved 

24 June 2014 Is there any provision entries on income like i give service to mr x and raise bill on 31 march but mr x send me chq on 2 april and date on cheque is 10 april

What is entries for above question

24 June 2014 What's the nature of your business and are you collecting service tax for the services rendered.

pls specify

24 June 2014 Like CA service audit fees i raise bill in 31 march to xyz and they will payment in april

24 June 2014 if you are following accrual practice, then you need to book income on date of invoice itself.

Where it is cash basis, no entry is to be made.


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