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Difference between outstanding income and accrued income?
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Answer Posted / h.r. sreepada bhagi
Kirti Verma's answer is correct : It's explained with
example below :-
1. Billing period for Telephone Service provider 15th to 14
of the next month. At the end of the first month, income is
accrued but not due & so is not outstanding income at the
end of the month.
Bill will be sent after 14th of the following month & if
money is not received by the end of that month & is due,
it's outstanding income.
Unless billing is made for an income it will not fall due &
so is not an outstanding income though it's accrued.
| Is This Answer Correct ? | 16 Yes | 7 No |
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