Why credit sales is recorded
Atharv Sankliya (1354 Points)
29 December 2021
why credit sales is record on the date of sales, not on the day of cash/payment received for sales
4 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 30 December 2021
Accruals. This why revenue can be recognised firat
MPR Sanjay Kumar
(3118 Points)
Replied 30 December 2021
Accrual basis of accounting system are considering in companies a scientific proper method to record.
Tanuj Chandra Saxenaa
(Company Secretary)
(7075 Points)
Replied 30 December 2021
Revenue Recognition on the Basis of Accrual System of Accounting
Meghraj Ojha
(Accountant)
(60 Points)
Replied 31 December 2021
Sales books always running in sequence like invoice number, date etc. but payment is not sure. suppose you make an invoice on dated 31-12-2020 and payment not received till 31-12-2021.Then how would you record your sale.
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