Restaurant
Catering Order Advance Deposit
Receiving a deposit from a corporate client for a large catering event next month.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 1,000.00 | - |
| Advance from Customers (Catering) | Liability (+) | - | 1,000.00 |
💡 Accountant's Note
The food has not been prepared yet, so this is a liability. Revenue is only recognized when the catering event is completed and the food is delivered.
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