Hi Respected Members,
Please educate me on following:
We purchased a bidding documents from client thru pay order to bid for a project. How we will record it ? And what will be nature of this account ?
Thanks in Advance.
To record the purchase of bidding documents from the client
Debit : Bidding Document Expense account
Credit : Cash/Bank account.
The nature of this account would be an expense account since it represents a cost incurred to obtain the bidding documents.
CAclubindia
