Receivables Accounting Rules
Hi,
I have a client who have a number of items that they sell which relate to indices in a specific calendar year - retail transactions in that year. Although the year changes the item number remains the same. They want the revenue to be recognised in a specific month and year no matter when the item is sold in the year e.g. Book A revenue is recognised in March each year, but this book can be sold in any month in that year and beyond.
I want to be able to assign an accounting rule to a specific item that will ensure the book is recognised in the specific month e.g. March.