unexpected accounting on project contract invoice
Summary:
After creating an AR invoice from project contracts, the expected accounting entry (based on the documents and notes) on the invoice was
Receivables (dr)
Deferred Rev (cr)
However, on the invoice, the accounting entry was
Receivables (dr)
Revenue (cr)
Why did the invoice take Revenue account instead of the Deferred Revenue account?
Thanks,
Sumit
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