How to calculate this?

 Dear All,

Plz. look into the matter.

Suppose We r running a institute. Part time professional course. duration 1 year. ok

Fee plan are = one time plan having amount of rs. 50,000/-

Installment plan= 10000/- at the time of Admission 

Five equal monthly installments of Rs. 8000/-

Suppose we got five admission in april month with Rs. 50,000/- ie: april income was rs. 50000/-

then, 10000*5= 50000/- rs. installment received in May month similarly 50,000/- in june.

So, how to show these entries in books and what will be the entries???????

 

 

Replies (1)
Hi, For one time fee, you can directly treat it as income. For installment fee, when the student is getting registration you can accrue the total fee income and Dr the student. Whenever you receive the installment, give credit to Student.

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