We get income in advance. We debit AR and credit deferred income. Auditor insists we should record AR only when rental period starts. Please advice.

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Khawar
06-September-2013

We bill our clients in advance. Some pay well before the rental period even starts. On raising invoice AR is debited and deferred income is credited. Every month proportionate income is taken to

Auditing Accounts Receivable

Question ajoutée par Tony Thomas , Finance Controller , Khazna Data Center Limited
Date de publication: 2015/11/05

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par Suranjith Chathuranga Warnakula , Accounts Cum Admin Executive , AL Tebah General Contracting Co.

You can Maintain this through Provisional Income Account.

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par Sridhar Rajagopal , Financial Controller , Sai Krishna Bio Tech

Auditors right any Income received will be recorded in advance and there will be an account normally created by any company

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We get income in advance. We debit AR and credit deferred income. Auditor insists we should record AR only when rental period starts. Please advice.

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