Which year?

[UKSBD]

If an invoice is dated in one financial year, but payment is received in
the next financial year, which year is the profit made in?
TIA.

 

[elaine@cheapaccounting]

year it is invoiced in.

 

[UKSBD]

thank you.

 

[Jaydee]

I would say neither!

The year that the goods or services are provided in.