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when to record entry in books?

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(Querist)
15 August 2008 if bill is of last year but recieved by company in next year, say bill of march month purchases,or services etc., then it should be recorded on date when bill is recieved
then as an auditor can we question it regarding prior year exp.or this practice is allowed?
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Jitender

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Jitender (Expert)
15 August 2008 yes, becz exp should be recognized irrespective of the fact that bill is received or not.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
16 August 2008 yes. Jitender is right
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