Entry posting Responsibility
This query is : Resolved
10 August 2010
If there is one invoice for Telephone cost for the period 01.09.10 to 31.12.10.
The Entry will be Prepaid a/c ---Dr & vendor a/c –Cr
& in the respective period from 01.09.10 it will be Expense a/c----Dr , Prepaid a/c ---- Cr.
Who’s responsibility it is to post the second Amortization entry. Should it be posted by AP team or GL Team. We have confusion on it
Please advice.
The Entry will be Prepaid a/c ---Dr & vendor a/c –Cr
& in the respective period from 01.09.10 it will be Expense a/c----Dr , Prepaid a/c ---- Cr.
Who’s responsibility it is to post the second Amortization entry. Should it be posted by AP team or GL Team. We have confusion on it
Please advice.
10 August 2010
As per my past experience,AP team is required to keep track of Prepaid expenses and advise the GL team to charge it off as and when required.
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
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- ASMT-10 received from A O
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
- Taxation in the hands of Landowner under JDA
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
