ACCOUNTING ENTRIES OF MD COMMISSION

WOULD APPRECIATE, KINDLY GUIDE ABOUT TRANSACTION ENTRIES OF AMORTIZE MD COMMISSION

IS THERE ANY SHADOW ACCOUNT CONCEPT FOR EXECUTE TRANSACTION ENTRIES. IF YES THEN KINDLY GUIDE HOW?

MD COMMISSION:

Commission can be collected afront ( in advance). However, whole commission can not be appropriated for the current financial year.

Dr Customer A/c 300 STMT
Cr Commission Received in Advance 300 SPEC

Dr.Commission Received in Advance 10 SPEC
Cr. P & L Category ( income category) 10 CATEG

System will amortize the whole 300 in 30 days by daily passing the above mentioned entries.

regards
murugan

Thank you very much for your response.

Now what will system pass entries in LG commission in advance and PL if we extend validity before maturity date and recover additional commission.

Because I am solving this problem since two three months but not succeed.