Our company comes under works contract services where goods are the major portion. My query relates to entries relating to sales. Actually when a contract is initiated with the customer, we are debiting the customer and crediting the Project Fixed amount(created in Assets side). So everytime when we receive advance, cash and customer a/c are being debited and credited respectively. Please help me regarding posting of sale entries. Is there any better idea for these type of transactions??
Menu
How to record transaction for advances from customers, sale and showing debtors in BS
Replies (1)
Recent Threads
- LTCG Tax & Indexation on Debt Mutual Funds Sol
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
- Clarification on Deemed Export Status for EOU-to-E
- LTCG Tax on property
- Short term gain in itr2, missing 111A
- Errors in ITR Filing: Minimum One Character Requir
- Which ITR Opt
- Employer Details for NRI
Related Threads
CAclubindia
