Accounting of Consumables
This query is : Resolved
14 February 2011
Dear Sir's & Friends,
Expenses incurred for Purchase of consumables in our books of accounts is w/off agnst P & L A/c. Can they be capitalised to consumables itself.
Please Help.
Regards,
Yajuvendra Rawat
Expenses incurred for Purchase of consumables in our books of accounts is w/off agnst P & L A/c. Can they be capitalised to consumables itself.
Please Help.
Regards,
Yajuvendra Rawat
16 February 2011
Expenses for purchasing and bringing the goods upto workplace could be inventorised, but in your case you have already charges to P&L.
However, you can rectify if Financial Year not closed for the goods purchased during the same year.
Regards
K.L.Paliwal
However, you can rectify if Financial Year not closed for the goods purchased during the same year.
Regards
K.L.Paliwal
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