Ask Experts Questions for FREE Help !
Ask
    Camacho1's Avatar
    Camacho1 Posts: 1, Reputation: 1
    New Member
     
    #1

    May 23, 2014, 02:03 AM
    Advance invoicing
    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
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
     
    #2

    May 26, 2014, 09:22 PM
    billings in advance become revenue at the service date

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

I have been accused of stealing up to $1000 for not invoicing correctly? [ 3 Answers ]

My ex employer has just rung yelling at me telling me that I have over paid myself by $1000 over a 2 month period. I told him that I was not paid for any work that I did not do, I have just forgotten to invoice for all the hours that I have worked. H is demanding that I pay back the $1000 that he...

How to record pre-invoicing for future work? [ 2 Answers ]

Due to the given circumstances... we had to produce an invoice for work to be done in the future... how do I account for that now? Would it be considered an accrued a/r? Do I still show this as sales?? Which of course will not match the expense! Help!

Tax and Invoicing a US company [ 1 Answers ]

Hi I work for a UK consultancy company and have been offered a project in the US for 4 months. I will be predominantly doing my work outside the US but will be doing some work from within the US - e.g. business meetings some training etc. How do I invoice the firm and am I liable for any...

No-show known in advance by plaintiff atty, my atty not told in advance [ 3 Answers ]

Will I be able to prevail in small claims court against the plaintiff's attorney and/or her? My ex-girlfriend filed a motion for a 2-year protective order to keep me out of our jointly-owned house. At the hearing, she didn't appear, but her attorney truthfully claimed that she was on business...

Invoicing for past work [ 2 Answers ]

What is the maximum time that you can invoice an individual after performing work for them? Dane from PA


View more questions Search