Credit card transactions
This query is : Resolved
09 May 2017
Sir,
I record transactions of March month Statement through Credit card have February expenses. How will I record March month expenses in April Month Statement.
I record transactions of March month Statement through Credit card have February expenses. How will I record March month expenses in April Month Statement.
09 May 2017
Book the expenses as payable in the month of march, and then at the time of payment (April) debit payable account and credit bank. For Example:-
For March:
Expenses A/c Dr
To Expense Payable A/c
For April:
Expense Payable Dr
To Bank
P.S. U must use reference number for each transaction so that u can easily track them, at the time of payment.
For March:
Expenses A/c Dr
To Expense Payable A/c
For April:
Expense Payable Dr
To Bank
P.S. U must use reference number for each transaction so that u can easily track them, at the time of payment.
09 May 2017
Sir, in last FY I didn't make payable entry for that also filed ITR. How can I close? What is the correct impact in current year
09 May 2017
No issue with that. Do correct it from now.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
