I have the following queries in the Accounting entries
Engaged in providing Architect services (rendering of professional sevices which involve man power only)
There is a an invoice/bill which worth Rs.10(lac) the terms of the contract are half of the payment will be issued during the year and rest of the payment will be issued on approval of the Govt in the later years , there arises a question of booking the entire invoice during the current year or only part of the bill should be booked .
whether invoice should be raised for the whole value of contract or part of the contract
how the following invoice should be accounted
CAclubindia
