Expenses to be dibited in which year
This query is : Resolved
22 April 2011
We use to dye our product from outside party. in a case we issue dying order on 25/3/2011, parties dilivery challan date is 2/4/2011, parties bill date is 5/4/2011, in which year exp to be debited FY 2010-11 or 2011-12.
My view is to debit expenses in FY 2011-12
My view is to debit expenses in FY 2011-12
CA Navin Jain
(Expert)
22 April 2011
expenses to be debit in Fy 11-12
CA. Deepak Narula
(Expert)
22 April 2011
Just issuing a dying order is a non financial transaction. So in my view, the transaction should be booked in the FY 2011-12 in which party issued the bill.
More replies are solicited.
More replies are solicited.
CMA Ramesh Krishnan
(Expert)
22 April 2011
yes. expenses will be booked in FY2011-12
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