pre payment more than 600

Blakor65 — Tue, 10 Mar 2026 05:42:28 GMT

i received a pre payment for more than 600 but i cannot deliver before trhe end of the year, how do i declare this?

Re: pre payment more than 600

GabriellaEA — Wed, 31 Aug 2022 21:01:12 GMT

Hi @Blakor65! This is a great question, and it all depends on whether you use the cash basis or accrual basis of accounting. Most small businesses use the cash basis, which means you report the income in the year you received it, even if you haven't technically earned it yet (ie. you haven't delivered).

topic Re: pre payment more than 600 in Self employed

pre payment more than 600

Re: pre payment more than 600