Prior prriod expenses
This query is : Resolved
28 January 2021
A consultancy firm raise his invoice
For the period F.Y.19- 20.
But his invoice date is 15.12. 20
i.e. for F.Y. 20-21
In short service rendered period is F.Y. 19-20 & invoice date is for F.Y. 20-21
Now 19-20 Balance - sheet is finalised.Then this said expenses is debited to prior period or debited to current year expenses.
You are requested to guide.
For the period F.Y.19- 20.
But his invoice date is 15.12. 20
i.e. for F.Y. 20-21
In short service rendered period is F.Y. 19-20 & invoice date is for F.Y. 20-21
Now 19-20 Balance - sheet is finalised.Then this said expenses is debited to prior period or debited to current year expenses.
You are requested to guide.
28 January 2021
Invoice dated is current year so account it under current year.
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