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Post Info TOPIC: Cashflow
Taffygirl


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Cashflow
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I think I know the answer, so August invoices, paid in advance so cash in bank in July - does this go in August or July's cashflow? Thank you

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Sian

Newbie and learning every day
Cheshire


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Taffygirl wrote:

I think I know the answer, 

 Do tell



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Taffygirl


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I was hoping August??

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Sian

Newbie and learning every day
Cheshire


Master Book-keeper

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Taking a step back and completely ignoring VAT -

What is being supplied to these customers? Goods or services?

Why are you receiving payments in advance?

Why are the invoices issued in the following month?

What do payments in advance represent and where do they sit - in the P&L or Bal Sheet (and where in either of these)?






__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

I was going somewhere with this one

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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