Automated Data Entry into Tally, Zoho Books, Quickbooks Certificate in Quantitative Finance

Late Bill Booking

This query is : Resolved 

30 August 2007 A co. pays for Visual Mercandise Expenses to a party who provided the services(labour+ material)in the year 2005/2006.
However the bill for the same is booked now and even payment is made now.However the bills were recived earlier i.e in 2005-06.So in that case Vat charged by the party would be booked now so will it be eligible for set-off.

05 September 2007 This would not be eligible for Set off



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