Accounting entry

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sunny (Querist)
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17 July 2013 We are in receipt of bank statement for June-13 in which they charged audit fee for Aug-12.

How same should be accounted for i.e. whether provision for same should be made on 31/03/13 or should be booked as revenue as on date.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 July 2013 What is the audit fee they charged. since it is related to aug-12, you can book now as prior period item.

what is revenue booked?

sunny

sunny (Querist)
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18 July 2013 Dear Sir,

Audit fee is charged in C/C statement. I think same is in connection with audit of c/c.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 July 2013 then you need to debit the expenses as bank charges

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