Invoice, Invoice in Advance and Invoice in Arrears – T&M

Scenario 1 – Rev rec at Invoicing

Fee Journal

DR Project WIP Sale Value (B/S) – 1000

                             CR Project Accrued Revenue – Sale value (P&L) – 1000

              Expense Journal – Consumption

              Dr Cost – 500

                             Cr – B/S – 500

Dr Project WIP Sale Value (B/S) – 500

                             CR Project Accrued Revenue -…

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Invoice, Invoice in Advance and Invoice in Arrears – T&M

Scenario 1 – Rev rec at Invoicing Fee Journal DR Project WIP Sale Value (B/S) – 1000 CR Project Accrued…

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