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    b1953's Avatar
    b1953 Posts: 7, Reputation: 1
    New Member
    		  
    #1

    Mar 15, 2007, 04:03 AM
    Deferred Income
    I am in a construction and want to know how to book monthly deferred income. I have sales that are recognized in this month but will not receive the money until next month; thus deferred income? I use QuickBooks Enterprise.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 15, 2007, 04:30 PM
    Are you recording your revenue on the cash basis or the accrual basis?

    If on the accrual basis…

    Just…
    Debit Accounts Receivable
    Credit Revenue

    Why they pay you next month…
    Debit Cash
    Credit Accounts Receivable
    RAVINDRA_P1983's Avatar
    RAVINDRA_P1983 Posts: 1, Reputation: 1
    New Member
    		  
    #3

    May 12, 2007, 12:05 AM
    What is deferred revenue expenditure
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