Previous year expense bill received in current year
This query is : Resolved
14 February 2018
Dear Sir,
We have received expense bills relating to FY 2016-17 in current FY 2017-18 against which we given advance in FY 2016-17 but expense not booked in FY 2016-17.
Now my question is how I should deal this situation??
Should I treat that as a prior period expense ??
Prior period expense ------ Dr
To Party
Pls advise
We have received expense bills relating to FY 2016-17 in current FY 2017-18 against which we given advance in FY 2016-17 but expense not booked in FY 2016-17.
Now my question is how I should deal this situation??
Should I treat that as a prior period expense ??
Prior period expense ------ Dr
To Party
Pls advise
14 February 2018
You may proceed as u said.
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