Advance received against services
This query is : Resolved
08 May 2018
A company has given an advance towards services to be rendered for next 12 months, the amount has already been received in the bank
for USD 100,000 how do it treat this in books ?
Please help me
Regards
Javed
for USD 100,000 how do it treat this in books ?
Please help me
Regards
Javed
09 May 2018
Treat the receipt as advance, raise monthly invoice for services rendered and adjust it against advance.
Message likes :
1 times
09 May 2018
Treat it as advance for services received and show it as liability till the work is completed as if as per the agreement if the amount has to be given back for non -performance of service.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
