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Provision For Sales Invoice
Can we book provision for income i.e. sales invoice if we dont know the party to whom the invoice to be raised but we know the quantity and amount to generate the invoice??
Replies (2)
No. Because there should be an uncertain obligation which will result in a liability which is probable with reliable estimates to raise a provision. If the party name is unclear, take it to suspense account.
Obviously you can make provision for doubtful debt because knowing the party is not necessary if it will make default you have provisions to make it good but if it will pay your amount mention his name
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