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Prepaid expense related query

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(Querist)
29 January 2015 let ABC co release a payment of training fees on 1jan 15 against the invoice raised by concerned institute which will be execute in june 15.is this expense need to reclass in prepaid account.
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CA Sandeep Kumar

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CA Sandeep Kumar (Expert)
29 January 2015 Yes, if amt is paid in advance for which service has not been taken, it will be classified under prepaid exp.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
30 January 2015 Since it is paid in advance , it must be classified as prepaid.




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