Prior period expense
This query is : Resolved
02 May 2014
Sir
I want to ask , if any accounting entry either expense or income of last year was left out after audited Balance sheet , How to accommodate same in current year?.
If it is prior period expense in current year , How to show it , please give an example.
Thanks in advance .
I want to ask , if any accounting entry either expense or income of last year was left out after audited Balance sheet , How to accommodate same in current year?.
If it is prior period expense in current year , How to show it , please give an example.
Thanks in advance .
13 May 2014
it must be booked in prior period expenses or prior period income as the case may be
13 May 2014
Thanks Sir , But where to show such type of expense or income ? in P&L or Balance sheet , and under what account head ?.
15 May 2014
ofcourse in P&L under prior period income/expenses head
Message likes :
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15 May 2014
Thanks ones again .
Thanks ones again .
19 May 2014
my pleasure to help you...
19 May 2014
Sir
One more thing , I want ask about date , what date will be applicable for such type of exp or income ? , because date on invoice will be of last year and we are posting in the current year.
Sir
One more thing , I want ask about date , what date will be applicable for such type of exp or income ? , because date on invoice will be of last year and we are posting in the current year.
19 May 2014
Date shall be on which you are booking income or expense... though you have to put invoice date which is actual.
19 May 2014
OK ,Sir Thanks .
OK ,Sir Thanks .
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