Travel ticket


This query is : Resolved 

Quick Summary
This discussion clarifies the accounting treatment for an air ticket booked on 19th March 2022 for travel on 19th April 2022. While it could be booked as a normal expense, it's more accurately treated as a prepaid expense because the benefit of the travel accrues in the next financial year. This offers potential future benefits.

31 March 2022 air ticket booked on 19.03.22, travel dt. is 19.04.22
air ticket bill received on 20.03.22

whether booked as prepaid exp or normal exp.

31 March 2022 Book it as normal expenditure.

02 April 2022 why normal expenditure, benefits we will get in future only

02 April 2022 Yes, it can be taken as prepaid expenses as benefits accrue next year.


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