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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Eway bill for machinery reparing
- TDS exemption on resale of software
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
