Accounting entries for work order

JAIKUMAR SINGH (DEALER) (27 Points)

15 March 2012  

My Friend is working in a Private Limited company. which is ingaed in work orders for CGWA Aprovals.

Payment Schedule is as below

1. 40% advance with work order

2. 40% on Submission of Reports

3. balance at Completion

So when Revenus should be Recognised in Accounts. Because every Work order takes aprox 5 to 6 Months for Completion

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