Under normal operating conditions, when goods are issued and the ownership of goods is transferred, the income must be confirmed. The accounting treatment of enterprises should follow the accounting standards and confirm the income on the transfer date of commodity rights.
Accounting entries at the time of delivery:
Debit: accounts receivable
Loan: income from main business
Credit: tax payable-VAT payable-output tax.
When collecting money:
Borrow: Bank deposit?
Credit: accounts receivable
Extended data:
Financial treatment of advance payment:
After receiving the advance payment, the accounting department will notify the business department by notice, so as to grasp the delivery within the received payment or remaining amount. When receiving the export invoice, it should be checked with the amount of foreign exchange account received in advance by the customer. If the excess is found, you should contact the relevant business departments in time, and you can settle it by bank collection or remittance. The balance of foreign exchange accounts received in advance should also be settled with customers in time. ?
There are generally two kinds of loans, conditional prepayment and unconditional prepayment.
The so-called conditional advance payment refers to the advance payment that the importer indicates that the exporter must issue a letter of guarantee, provide the shipping documents on time and remit to the bank before paying the remittance. Sometimes, in order to avoid the shortage of silver goods, importers deposit the payment in foreign banks in advance, and ask China Bank to provide a letter of guarantee to ensure timely delivery of goods by exporters. Otherwise, the bank of China will be responsible for repayment, and the foreign bank will remit the advance payment to the export enterprise after receiving the shipping notice, which is also a conditional advance payment.
The so-called unconditional advance payment means that the remittance bank pays the export enterprise immediately after receiving the remittance, without attaching other relevant conditions.
References:
Baidu encyclopedia-advance payment