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Audit of Trade Receivables

What is the difference between realization of trade receivable INVOICE WISE and realization of trade receivable made ON ACCOUNT.


MAHITHA SENTHIL KUMAR

MAHITHA SENTHIL KUMAR

CA Inter

800

28-Jul-20 19:54

41

Answers (2)

INVOICE WISE means payments are made by debtors against each invoice (invoice wise settling of dues) so there is invoice break up of the balance due ON ACCOUNT means payments are made adhoc (not against particular invoice amount) so there is a running balance and the closing balance cannot be attributed to particular invoices


sudha reddy

sudha reddy

Moderator

29-Jul-20 11:00

Thanks a lot mam


MAHITHA SENTHIL KUMAR

MAHITHA SENTHIL KUMAR

CA Inter

800

29-Jul-20 16:02

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