Prior period expenditure
This query is : Resolved
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
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
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
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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