Operating expenses

This query is : Resolved

manohar (Querist)
Follow

11 February 2013 Dear sir
I make one invoice for our customer after completed the works rs.50,000/- and customer paid to us only rs.45,000/- and rs.5,000/- they deducted like penalty (work not completed on time) my question this rs.5,000/- is a operating expenses (we want to charge the proj) or we want to treat as bad debts expenses

Thanks

Vishaljeet Singh

Vishaljeet Singh (Expert)
Follow

12 February 2013 Charge it to the project cost as it has been occurred due to the late completion of the project. There is no need to charge it in the P/L a/c.

Message likes : 1 times

Dr. Rashid Mehmood, CPA, Ph.D

Dr. Rashid Mehmood, CPA, Ph.D (Expert)
Follow

12 February 2013 Yes I agree with Mr. Sing the expenditure relates to the project and should be charged to the project.

Message likes : 1 times

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

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

shobi H

P.S.Satya narayana

SARAVANAN PALANISAMY

tsrandcompany@gmail.com

nandeesh mashyal

Subscribe Now

Operating expenses

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Accountant

Manager- Finance and Compliance

Senior Executive

CA Final