Prepaid expenses transfer to Expenses A/C

Save Share

This query is : Resolved

Quick Summary

This discussion explains how to move prepaid expenses into your expense account at the start of a new financial year. The process involves apportioning the prepaid amount on a monthly basis. At the end of each month, you should debit the relevant expense account and credit the prepaid expenses account to reflect the usage.

Daya

Daya (Querist)
Follow

01 October 2023 How to transfer prepaid expenses to expenses in next FY.

RAJA P M

RAJA P M (Expert)
Follow

01 October 2023 Transfer the required amount to Expense account which is already taken from the exact Expenses...

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
Follow

16 January 2024 The Prepaid Expenses need to be apportioned on a monthly basis and at the end of each month DEBIT the said expenses and CREDIT PREPAID EXPENSES.

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