Poonawalla fincorps
Poonawalla fincorps

Treatment of advance receipt against PO as revenue

This query is : Resolved 
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(Querist)
28 January 2021 If we are getting advance from the client against PO by end of FY20-21, and supply is happening on next FY 21-22.

Whether advance amount received from the client as revenue in our books during FY 20-21 by providing corresponding expense provision on books.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2021 Keep it as advance and adjust it against the sale next year.

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