Recording of commission income

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Vijay Kumar (Querist)
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26 August 2013 Dear Experts,

I have raised a bill of commission income in july'13 but this commission income pertaining to June'13 as we get commission for services giving to party for getting sales order in June'13

I want to know that if the commission invoice raised by us in july'13 for that then it should be booked in june'13 or July'13 according to accounting concepts.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 August 2013 If you are following mercantile accounting method then you should book in JUNE 2013.

If you follwing cash system then when u receive cash u should book it.

Vijay Kumar

Vijay Kumar (Querist)
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27 August 2013 Dear Mr. Tushar,

It does not matter whether the the bill raised on july'13. can we book this in july ?

and cash received in august'13 against this invoice

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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27 August 2013 Follow accounting standard-9 revenue recognition in this case also.

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