Newstrike Brands Ltd NWKRF

RE:RE:RE:RE:HIP WILL EXPLODE ONLY 28 DAYS LEFT TO Q3 FINANCIALS

[silkroad007]

Its not when the payment is collected.  If you have ever invoiced for your services as an independant contractor you would know that CRA and accounting rules are based on invoice date regardless of when money exchanges hands.

I could invoice my company each month for 5 months and not get paid yet I would owe the GST to CRA based off of invoice dates even though ive technically not been paid.  Thats how accounting works.

So your earlier comment stating invoice dates after September 30th may or may not be true we dont know, but I would suspect its when the sale happened.

Understnding revenue booked is not the same as actual cash flow.  Fundamental differences.  If the invoices were dated pre Q3 cutoff then they will be reported in Q3 revenue - period.  Even if they/HIP dont actually see a dime until 2019 or even 2025 for that matter.  At some point companies have to write these off as bad debt (someone doesnt actually pay) and correct stated revenue for excatly this reason.

robins1 wrote: usually invoices are due 30-90 days . accounting will record when received . I doubt many invoices will be collected as revenue before Sept. 30 .