Revenue recognition
This query is : Resolved
Gudla Vagdevi
(Querist)
08 July 2015
Can anybody help me in the following issue.
I am facing problem in revenue recognition.
My client is into the business of providing links on an agreement.
Invoice raised in march,2014 for which services to be rendered during Apr,15 to June,15.
When to recognise this revenue? FY 14-15 or FY 15-16.
I am facing problem in revenue recognition.
My client is into the business of providing links on an agreement.
Invoice raised in march,2014 for which services to be rendered during Apr,15 to June,15.
When to recognise this revenue? FY 14-15 or FY 15-16.
CA R SEETHARAMAN
(Expert)
08 July 2015
Recognize the revenue in FY 15-16 the year in which service rendered.
Gudla Vagdevi
(Querist)
08 July 2015
For which payment also received. How to recognise it in the Financials?
CA R SEETHARAMAN
(Expert)
08 July 2015
Payment received keep it in advance.
Gudla Vagdevi
(Querist)
08 July 2015
Sales entry already passed in tally. Shall i reverse it.
Gudla Vagdevi
(Querist)
08 July 2015
Or transfer it to deferred revenue income account.
CA R SEETHARAMAN
(Expert)
08 July 2015
Reverse the sales entry....
Gudla Vagdevi
(Querist)
08 July 2015
Thanks a lot........
Thanks a lot........
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