Revenue recognition
This query is : Resolved
30 November 2012
Dear Expert,
Please help me out in the following situation:
My Mgt. wants me to book the travel cost (Abroad) as revenue to the Client, my argument is it is just a reimbursement, no proper clarity in the 'Contract'. It just says travel reimbursable at actual. Client based at US, billing is done in US$.
If it is possible what should be the description made in the invoice? and in which head it should be accounted?
kindly suggest at your earliest.
Regards
Suresh
Please help me out in the following situation:
My Mgt. wants me to book the travel cost (Abroad) as revenue to the Client, my argument is it is just a reimbursement, no proper clarity in the 'Contract'. It just says travel reimbursable at actual. Client based at US, billing is done in US$.
If it is possible what should be the description made in the invoice? and in which head it should be accounted?
kindly suggest at your earliest.
Regards
Suresh
01 December 2012
If the expense has been incurred by your company and then you are recovering the same on actual basis, then it is reimbursement of expenses.
Such amount shall be reduced from the amount of expenditure.
Such amount shall be reduced from the amount of expenditure.
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