banner_ad

Exp booking

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 July 2020 i have received a bill dt 20.04.20 & service period is 15/3/20 to 14/04/20, so please tell me how to book exp in books & in which year it would be book
Profile Image

CA KARAN SINGH

Profile Image

CA KARAN SINGH (Expert)
26 July 2020 Dear Rishi
There are two ways of recording the transaction.

1. You follow the cash basis of accounting: Under this, the expense will be booked on the date of payment made, meaning thereby if you have made the payment on or before 31st Mar 2020 it will be the expenditure of F.Y. 2019-20. On the other hand, if payment is made on are after 1st April 2020 then expenditure will be booked in F.Y. 2020-21.

2. You follow the accrual basis of accounting: In this case, irrespective of the date of payment, you will make provision for expense pertains to period 15/03/2020 to 31/03/2020 in F.Y. 2019-20.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details