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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4433
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Hi, I consign jewelry at a store and they will send me the

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Hi, I consign jewelry at a store and they will send me the check for the sales of December 2012 in January 2013, does this sales amount belong to the sales of 2012 or 2013?
Thank you

rakhivasavada :

Dear Fiend, hello and welcome..

rakhivasavada :

If you have invoiced him in December, then it would be sales of 2012. The amount would show as receivables as current assets in balance sheet ending 2012

rakhivasavada :

I hope this helps...

Rate this answer POSITIVELY IF you are done with this and if this helps and satisfies you as this is the only way we get compensated for assisting you. You may use "CONTINUE CONVERSATION" to revert with additional queries if you have or if I have missed out on any aspect of your question.

rakhivasavada :

Warm Regards...

Customer: replied 3 years ago.
Hi,thank you for the answer. Actually I don't prepare any invoice until I deposit my check ,I just leave the jewelry and she sends me checks at the end of each month, and for the sales that are done in December , I will get the check january 2013 , to my understanding, then it belongs to the sales of 2013?
Dear friend,

Yes... then it is January.

I believe you recorded the sale in January when you actually receive the check. If it is not invoiced or billed in 2012 then it would belong to 2013.


I hope this helps...

Rate this answer POSITIVELY IF you are done with this and if this helps and satisfies you as this is the only way we get compensated for assisting you. You may use "CONTINUE CONVERSATION" to revert with additional queries if you have or if I have missed out on any aspect of your question.
Customer: replied 3 years ago.
Ok, and when recording sales I always put the date that I deposit my check. Not the date the check is written, is that the right way?
Dear Friend,

Yes... that is fine.

I hope this helps...

Rate this answer POSITIVELY IF you are done with this and if this helps and satisfies you as this is the only way we get compensated for assisting you. You may use "CONTINUE CONVERSATION" to revert with additional queries if you have or if I have missed out on any aspect of your question.

Warm Regards
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