It appears that you are calculating your revenue on cash-based
accounting rather than accrued accounting. Which does your Revenue
Agency expect you to report?

I don't know of any Revenue Agency that permits using both methods for
accounting. Most will consider your business as using the accrued
method after the first accrued-type transaction occurs.


On the accrued concept:
If you were awarded contracts of value or made other 'Sales' in any
fiscal year then that value is considered revenue for that fiscal year
whether you receive full payment or monthly installments, OR if you
deliver the goods/services within that fiscal year. Same goes for
expenses claimed, whether the goods/services were received/paid in the
fiscal year or not. On this premise, the amount of revenue claimed must
align with the amounts paid to you by those reporting their respective
expenses claimed for your goods/services.

On the cash-based concept:
Everything is done by completed transaction. On this premise, received
income and paid expenses must be within the fiscal year. Revenue will
be determined by the total amounts of all payments to you that are
dated within your fiscal year. Expenses will be determined by all
payments made by you within the fiscal year.

Otherwise, you may want to look at using the DATEDIF() or portion
according to months or days within fiscal dates.

--
Garry

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