Forget to pass commission receivable entry what next???

Which accounting system you follow: Cash or Mercantile?

mercantile

As per law you have to revise return of ass. year 2015-16.

If amount is small and tax liability do not differ much, can credit it (as mistake) in FY 2015-16

DEAR SIR 

YOU CAN  DO ENTRY AS UDNER 

DR -BANK (BANK)

CR- COMMISSION RECIEVED (DIRECT  INCOME)

NOTE: KINDLY CHECK YOUR  26 AS FORM AND YOUR CLIENT STATEMENT BEFORE THIS ENTRY.

GOOD LUCK

You have to show that commission income as Prior Period Income in P/L and offer for tax in the current year. In practice PP Expenses are disallowed but PP Incomes are considered.