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Expenses to be dibited in which year

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(Querist)
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
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CA Navin Jain

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CA Navin Jain (Expert)
22 April 2011 expenses to be debit in Fy 11-12
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CA. Deepak Narula

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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.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 April 2011 yes. expenses will be booked in FY2011-12
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