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Accounting entry of unaccounted sales

shailesh (student) (27 Points)

30 July 2017

If a company make a sale or provides any service to any client and invoice has not been raised then how it will be accounted in books of accounuts at the end of financial year?

Kindly suggest

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6 Replies

Giridhar S Karandikar (Team Lead) (7553 Points)
Replied 30 July 2017

make a provision in the account by debit customers account and credit to sales

shailesh (student) (27 Points)
Replied 31 July 2017

thnks

Chinmay (Accounts Professional) (356 Points)
Replied 17 August 2017

Hi, as per my point of view you need to accrued this revenue by credited to revenue account & debited to Income Accrued Account (Current Asset). Next financial year just simply debit to customer & credit to Income Accrued Account...

Please correct me if I'm wrong...

1 Like

shailesh (student) (27 Points)
Replied 25 August 2017

I also asked the same thing with Mr Giridhar but he told its not correct, and i think he is right

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8656 Points)
Replied 26 August 2017

If invoice is not raised, no question of accounting entry.

durga bhai (2 Points)
Replied 10 November 2018

Hello sir My father has an asset of 50cents land he is trying to sell it.But it's not accounted in my father's IT returns (He bought the land 2010 year) Now can he sell this land.