Murad (Accountant) (24 Points)
30 March 2020Hi, Appreciate if someone could help me on this.
Lets say a client has ordered a specialized software costing $1,500. As of the year end, software has not been delivered yet and client has made an advance payment of $1,000.
The only entry made in regard of this transaction is recording of advance payment.
My question is whether we need to accrue the remaining amount of $500 in the books at the year end?.
Thank you.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 30 March 2020
sabyasachi mukherjee
(27574 Points)
Replied 03 April 2020
CAclubindia
