I received an advance payment from a client — do I book it as revenue right away?

Under IFRS 15, revenue is recognised when you satisfy your performance obligation to the client — when you actually deliver the service or product, not when cash lands in your account. An advance received before delivery sits on the balance sheet as deferred revenue (a liability), and converts to revenue gradually or all at once depending on the contract.

A common mistake is booking any incoming amount as revenue immediately, which makes the company look more profitable on paper than it is — and that flows straight into the Corporate Tax base too. RASEEKH times revenue recognition correctly from the start, so the statements and the tax file reflect reality, not just when cash was collected.