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Prior period expenditure

This query is : Resolved 
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(Querist)
10 January 2013 Hi All,

Is any bill dated 28.03.2012 of Annual Maintenance Charges for period of 01.04.2012 to 31.03.2013 is a prior period expense if booked on 07/04/2012 i.e. FY 2012-13.

Please Help.

Regards,
Vishal Agarwal
vishalagarwal1991@gmail.com
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NILESH GUPTA

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NILESH GUPTA (Expert)
11 January 2013 Hi Vishal,

No it will not be treated as prior period item as the service will be provided in the year FY 2012-13. It can happen that the vendor has raised the bill in advance.

Just confirm that the period of service is mentioned on the bill.

Regards
Nilesh Gupta
nileshgupta88@yahoo.com
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