Rev. Recognition
Hello,
following question (if thats possible with standard ?)
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From leases out property and generates revenue in form of rentals. All the rentals are taken from customer in advance with billing frequency as quarterly, half yearly, yearly. Scenario is that a property is rented out for a year and rentals are collected in advance on quarterly basis. Lets say leases raises AR invoice for amount of 300 for a quarter and billing cycle is 6th of each quarter(6-Aug, 6-Nov, 6-Feb, 6-May). For 1st quarter an AR invoice is created with Invoice Date and GL Date as 06-Aug-13. Since rent is being collected in advance from the customer, revenue has
following question (if thats possible with standard ?)
---
From leases out property and generates revenue in form of rentals. All the rentals are taken from customer in advance with billing frequency as quarterly, half yearly, yearly. Scenario is that a property is rented out for a year and rentals are collected in advance on quarterly basis. Lets say leases raises AR invoice for amount of 300 for a quarter and billing cycle is 6th of each quarter(6-Aug, 6-Nov, 6-Feb, 6-May). For 1st quarter an AR invoice is created with Invoice Date and GL Date as 06-Aug-13. Since rent is being collected in advance from the customer, revenue has
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