Recording details in opening balance page
This query is : Resolved
01 October 2017
We bought a software from a company and were maintaining in Accounts payable-Creditor ledger. In the beginning of the new financial year, we want to enter the invoice details in the ledger opening page. How could we do this?
2 - Is registration and licence expenses of a newly bought company car to be capitalised or not?
Thanks for the reply.
2 - Is registration and licence expenses of a newly bought company car to be capitalised or not?
Thanks for the reply.
01 October 2017
1. If you are newly Registered Firm then no need / not available opening balances...
Also it's running firm then you ll be see the PY BS. The closing balance are Current FY Opening balance...
2. Yes... You can capitalize the legal expenses. Also car is bought in Company name then Yes. You can capitalize the Car in company's books of Accounts...
01 October 2017
as soon as you run the year end process, the balances will be carried forward.
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