Partnership accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2012
Dear Al,
Please let me know how to account the expenses made on Registration of Partner ship firm?
The expenses like Stamp duty, Xerox Charges, Conveyance expenses, Fees to the agent.
All this expenses were made before the registration of the firm.
Please assist.
Please let me know how to account the expenses made on Registration of Partner ship firm?
The expenses like Stamp duty, Xerox Charges, Conveyance expenses, Fees to the agent.
All this expenses were made before the registration of the firm.
Please assist.
30 November 2012
As the stamp duty, conveyance and fees to agent etc for partnership firm registration may not be substantial or material amount.
It is advisable to charge off to P&L account with appropriate head of accounts.
It is advisable to charge off to P&L account with appropriate head of accounts.
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