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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Accounting entry of unaccounted sales
Replies (6)
make a provision in the account by debit customers account and credit to sales
thnks
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...
I also asked the same thing with Mr Giridhar but he told its not correct, and i think he is right
If invoice is not raised, no question of accounting entry.
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.
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