March expense payment

This query is : Resolved

Amit Kumar (Querist)
Follow

17 April 2015 Hi,
Can we book expenses in Mar and payment can be done in next fin. year (April Month) without any provision.

Please brief about provision at the time of books closing.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

17 April 2015 you need to book exp in march via provisions as per accrual system of accounting and u can pay later in april

Amit Kumar

Amit Kumar (Querist)
Follow

17 April 2015 we are booking directly (Not under provision) in Mar and made payment in April, is that wrong.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

17 April 2015 what entries u book i march and april kindly provide so?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

17 April 2015 yes you can so...!!

if the expense is of march... you need not to make any provision dear... directly book it in march... and automatically while booking it as expense, the party will b credited and stand it in ur liability....

you can pay it off in april or later on

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashok Atluri

T.N.Reddy

Jagadeesh GR

Arvind Sharma

Taxlet

Subscribe Now

March expense payment

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

GST CONSULTANCY

Manager- Finance and Compliance

Article Assistant

Accountant