Hi, guys..how should Chartered Accountants services be accountified? Should we pass JV and cancel when we receive payment? or should we record it as sale of services?
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Chartered accountants accounting
Replies (3)
Depends upon method of accounting followed, cash or accrual.
No, sorry what I meant was if the services provided are shown as the sale of services or should they be shown under the head Direct Income?
Services are provided, goods are sold.
CA firm's incomes are shown under 'direct incomes' as 'professional fees' or just 'fees'.
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