Accounting for advance receivables 15

Generally, there is no separate account for accounts receivable, and accounts receivable are placed on the credit side of accounts receivable.

When the payment is received and the sale is not realized:

Debit: Bank deposit 13000

Credit: Advance receivables 13000

If the remaining payment is not received when the goods are shipped in accordance with the contract:

Debit: Advance receivables 13000

Accounts receivable 13000

Credit: main business income.

Tax Payable - VAT Payable (Output Tax).

If the balance is received at the same time when the goods are shipped:

Debit: Advance receivables 13000

Bank deposit 13000

Credit: main business income.

Tax Payable - VAT Payable (Output Tax).

At the same time: borrow: the cost of main business.

Credit: Inventory of goods.

First of all, you only received in advance, and there was no opening invoice, in this case, that is, you can't recognize the revenue, and you can record it in advance first.

Debit: Bank deposit 13000

Credit: Advance receivables 13000

So, you don't have to carry it forward at the end of the month, wait until that month and you issue an invoice.

And the money was collected.

Continued. Debit: Bank deposit 13000

Advance receivables 13000

Credit: main business income 26000

That's it, ah.

Debit: Bank deposit or cash 13000

Credit: Advance Accounts Receivable 13000

The remaining 13,000 hours are received after the invoice is issued.

Debit: Bank deposit or cash 13000

Advance Accounts Receivable 13000

Credit: Accounts receivable 26000

In order to carry forward without bothering, you can directly make the prepaid accounts into accounts payable.

Prepaid Debit: Accounts Payable 13000

Credit: Bank deposit 13000

Goods received Borrow: raw materials or goods in stock.

Tax Payable - VAT payable (input tax).

Credit: Accounts payable.

The same payment entry is being made.

Accounts receivable in advance is a liability account, which means that you have received the accounts of the other party in advance, but the actual goods have not yet been shipped.

What is the accounting treatment of advance receivables? How to deal with the accounts receivable in advance?

1. Received advance receivables:

Borrow: Bank deposit.

Credit: Accounts received in advance.

2. Receipt of the remaining payment:

Debit: Accounts receivable in advance.

Credit: main business income.

Tax Payable – VAT payable (output tax).

Borrow: Bank deposit.

Credit: Accounts received in advance.

3. Enterprises with small amounts of advance receivables shall credit the advance receipts to the "accounts receivable".

Advance payment received:

Borrow: Bank deposit.

Credit: Accounts receivable.

Receipt of the remaining payment:

Debit: Accounts receivable.

Credit: main business income.

Tax Payable – VAT payable (output tax).

Borrow: Bank deposit.

Credit: Accounts receivable.

Generally, it includes the payment received in advance, the deposit for the pre-purchase of goods, etc. At the time the enterprise receives the money, the contract for the sale of goods or services has not yet been performed, so it cannot be recorded as income, but can only be recognized as a liability, i.e. credited to the "advance receivables" account. After the enterprise provides goods or services in accordance with the provisions of the contract, it will convert the unrealized income into realized income in accordance with the performance of the contract, that is, debit the "accounts receivable in advance" account and credit the relevant income account.

Receipt of Advance Receipts for Side Changes:

Borrow: Bank deposit.

Credit: Accounts received in advance.

Advance receivables refer to the purchase deposit or part of the payment received by the enterprise from the purchaser in advance. The payment received in advance by the enterprise shall be deducted when the actual goods, products or services are provided. Advance receivables are a liability arising from the buyer's or seller's agreement or contract, which is incurred by the buyer in advance to pay part (or all) of the purchase price to the ** party, and this liability is to be repaid with future goods or services.

Generally, it includes the payment received in advance, the deposit for the pre-purchase of goods, etc. At the time of receipt of this money, the contract for the sale of goods or services has not yet been performed, so it cannot be recorded as income, but can only be recognized as a liability, i.e. credited"Accounts receivable in advance"Account. After the enterprise provides goods or services in accordance with the provisions of the contract, it will convert the unrealized income into realized income in accordance with the performance of the contract, that is, debit"Accounts receivable in advance"Accounts, credited to the accounts concerned.

The term of advance receivables is generally not more than 1 year, and should normally be reflected on the balance sheet at the end of each period as a current liability, if it exceeds 1 year (the advance receipt is more than one year for the provision of goods or services)."Deferred loan banquet is included", which is listed separately between the liabilities and owners' equity of the balance sheet.

If the company's accounts receivable are not collected, an accounts receivable account should be set up for accounting. Advance accounts generally refer to the advance deposit, what is the corresponding accounting treatment?

How to account for pre-receivables?

1.Obtain advance receivables.

Borrow: Bank deposit.

Credit: Accounts received in advance.

2.At the time of shipment:

Debit: Accounts receivable in advance.

Credit: main business income.

Tax Payable – VAT payable (output tax).

3.Receipt of retroactive payment.

Borrow: Bank deposit.

Credit: Accounts received in advance.

Advance receivables refer to the purchase deposit or part of the payment received by the enterprise from the purchaser in advance. Generally, it includes the payment received in advance, the deposit for the pre-purchase of goods, etc. Advance receivables generally have a maturity of no more than 1 year and should normally be reflected on the balance sheet at the end of each period as a current liability, and if they exceed 1 year (goods or services provided in advance for more than one year), they are called "deferred credits" and are listed separately between liabilities and owners' equity on the balance sheet.

The time when revenue is recognized for advance receipts.

Advance receivables cannot be directly recognized as revenue, advance receivables are the liabilities of enterprises, and enterprises can only gradually recognize revenue after the performance of obligations is converted into sales.

1. Advance Accounts Receivable Accounting for the amount received in advance from the purchasing unit or the unit receiving labor services in accordance with the provisions of the contract or the agreement between the parties to the transaction when the goods are not issued or services are provided. Generally, it includes the payment received in advance, the deposit for the pre-purchase of goods, etc.

2. When the enterprise receives the money, the contract for the sale of goods or services has not yet been performed, so it cannot be recorded as income, but can only be recognized as a liability, that is, credited to the "accounts received in advance" account.

3. After the enterprise provides goods or services in accordance with the provisions of the contract, it will convert the unrealized income into realized income in accordance with the performance of the contract, that is, debit the "advance receivables" account and credit the relevant income account.