Hi
1. Should accrued income be reversed when sales invoice is raised but not paid yet ?
2. Once invoice is raised and and still not paid do I need to make an accrual for unpaid invoices ?
CIMA Forums
Accruals double entry
7y ago#11. Yes
2. No. Once the invoice has been raised, the income and the receivable will both have been recorded and no more entries are needed (until, obviously, payment is received).
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