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Revenue Not Recognized in Last Year

Asad Ikram's Profile

in 2014, I wrongly missed one invoice to prepare which we identified in 2015. Invoice Amount in AED 10,000. We Contact with Customer and he agreed to pay. after that he paid that amount and we deposited in our bank account and prepared BRV. but its not yet posted in system because there is no Invoice against that BRV. Please tell me how can i resolve this issue. The solution which i have is Dr: Receivable Cr: Retained Earning Dr: Bank Cr: Receivable Can you please assist me on this.,

Answers

Ross Anderson, CPA, MBA
Title: Controller
Company: TFS Capital
(Controller, TFS Capital) |

That sounds like it may be correct

Yinan Shi
Title: Auditor
Company: Cost Reduction Solutions, Inc.
(Auditor, Cost Reduction Solutions, Inc.) |

Asad, I agree with your correcting entry.

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