Dear Members
My client has received travelling bills of his selling agent for the last quarter in the month of april-may. Now the problem is that when should he entered the expenses.
Thanks in advance...
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ACCOUNTING ISSUE
Replies (2)
If it is company, the accounting should be accrual basis. Your client should enter expenses in last month.
It has to be passed on the day of receipt of claim.The same will be considered as prior period expenses if a provision entry is not passed.
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