Retention money treatment in financial accounts
This query is : Resolved
15 May 2014
What is the treatment of Retention money in contract sales and if retention money is deducted from sales amount then how it can be treated in balance sheet.
16 May 2014
it is to be reflected as receivable (normally as current receivable).
24 May 2014
you can make separate a/c as receivable or as security deposit with contracte.
24 May 2014
i would not suggest security deposit as retention money is not in form of a deposit.
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