Hello,
What are the accounting entries that are booked if I invoice my clients a month before consumption of the service. E.g I invoice a client for internet services to be offered between 23 June to 22 July 2014 and the sales invoice is dated 23 May 2014.
When do I book this revenue? Is it on the invoice date, or at the start of the consumption period? And also, do I apportion the revenue according to the number of days?(b'se consumption starts from June into July).Assume sales is $354 inc of taxes.
Thanks

billings in advance become revenue at the service date