Accounting Transaction ?

A/c entries 620 views 1 replies

Shaik

M.com IC(W)AI - Inter

723 Points Joined December 2010

Dear All

I am working as Accounts Executive one of Fitness Studio usually your are selling packages like , Aerobics 1months, 3months, 6months and 1 year packages, but now we are going to sale Aerobics life time Package to our regular Client as per Accounts how can i book entry to them ?

Replies (1)

Dhawal Mohnot

Practicing

449 Points Joined October 2009

account it as your income when you have received it. You cannot anticipate a life time of a member.. so account it in the year of receipt itself. Do not defer it. Thats my opinion.