About Navneet Singhal

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About Navneet Singhal

Chartered Accountant from ICAI

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Re: Income Invoiced Fully for year and recieved full year in advance...

@Rainflurrywrote:@Navneet SinghalFurther, you're using invoices to record a liability, not a sale,- Wrong. If that is not sale then why the sales report shows s...

Navneet Singhal

Updated Jan 24, 2022
Re: Income Invoiced Fully for year and recieved full year in advance...

One mistake you did, let's fix it first.The Bill is an expense for us and if we prepaid it then it means deferred expense which is an asset for us. So for the b...

Navneet Singhal

2

Updated Jan 24, 2022
Re: Income Invoiced Fully for year and recieved full year in advance...

Hi Angelyn,I think you are wrong on this one@Angelyn_Twrote:On the other hand, selecting a liability account the products/servicesIncome accountdrop-down is not...

Navneet Singhal

4

Updated Jan 24, 2022
Re: Income Invoiced Fully for year and recieved full year in advance...

Hi,In my view, the Sales report shows the month of Invoice / Sales receipt as sale month even if the account credited is not Income account (I choose current li...

Navneet Singhal

6

Updated Jan 24, 2022
Solved Re: Vendor Bill Foreign Currency Match with 2 transactions in Bank s...

Ok, I found my answer.What I did is, I went to Expense, select the bill in foreign currency, click schedule payment and choose the date (when it was paid in the...

Navneet Singhal

5

Updated Jan 11, 2023

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