Hi there,
A situation has come up; a customer made a deposit for an Invoice but the job will be done only after three months. How to treat this deposit if we don't want to show it as income yet and exclude GST in current month?
Thank you very much.
Ban.
Thank you for your post.
As we're not an accountants we're not permitted to provide advise on this matter. Since this is more of a question to an accountant or financial advisor. However, here's our Help Article, Customer prepayments, that has detailed instructions to assist with this. You might find this useful.
Please feel free to post again I'm happy to assist.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Cheers,
Princess
