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Reply from PSD Rajan on Jan 9 at 10:41 PM Revrec is independent of A/R.
| | | ---------------Original Message---------------
From: Vidhya Dhar
Sent: Monday, January 09, 2012 10:30 PM
Subject: Revenue and COGS Cancellation and Reposting for Revenue Recognition Contracts
Hi
If the Customer Debit and Sales credit entry happens along with the entry.
COGS debit and Goods in Transit Credit in the same accounting period ( contrary to the scheme of entries I had furnished earlier ) then, I suppose it agrees with the matching principle and the revenue recognition (both happening in the same fiscal period).
Regards
VidhyaDhar |
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