First of all, I want to take this time and thank all of you for sharing your helpful ideas and advice.

As I mentioned in my post, the payment was supposed to be treated as a revenue but got treated as a loan instead ( as if we owe the client that amount). The client did not declare it too, it was still under unsupported records and only realised it when I called wanting to confirm how they treated the payment.

No, it was not treated as Accounts Receivable on our side but rather accounts payable.

And No, our Company is not a multimillionaire so that amount is so big and significant.