Income
This query is : Resolved
20 May 2015
Do we need to book the invoice first and then the receipt entry? or directly we can pass the receipt entry?
Our company received fees from 1 client and they have sent the invoice for that so should we book the invoice also?
Client
to gross receipts
bank
to client
is this the way
or
bank
to income
Our company received fees from 1 client and they have sent the invoice for that so should we book the invoice also?
Client
to gross receipts
bank
to client
is this the way
or
bank
to income
20 May 2015
Client dr.
To income head
Bank dr
To client
is the right way
To income head
Bank dr
To client
is the right way
20 May 2015
yes you can receive the money first and then also book the invoice...
because sometimes, bills came late in compare to payment in banks...
so til the invoice booked, it wil b treated as advance received
because sometimes, bills came late in compare to payment in banks...
so til the invoice booked, it wil b treated as advance received
20 May 2015
we have made the invoice and issued it to the client so can i book only
bank
to income
bank
to income
20 May 2015
we have made the invoice and issued it to the client so can i book only
bank
to income
bank
to income
20 May 2015
nopes.. stil u need to book the invoice first then make the receipt entry
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