Accounting of monthly revenue billing

CA Venkata Koteswararao Mogali (job) (45 Points)

20 January 2021  

We bill our client for the services provided every month on 1st day of subsequent month. And the revenue is recorded for each month on the 1st day of subsequent month. The same happens for march month. 

 

Is the same correct, i.e say march 2020 bill being raised on 1st april 2020 and recognizing it as revenue for 2020-21 instead of revenue for 2019-20?