please explain the year closer entry of uncleared cheques against capital expenses, where books of accounts has been maintained according on cash basis ( cash accounting system).
Expenses on Building construction
cheque payment date 25/03/2019
cheque clearing date in bank 05/04/2019
books closed on 310.3.2019
kindly suggested
regards
When cheques already issued, it will be credited against Bank Reconciliation acc. No change in capitalization of expenses.
KK & Company Chartered Accountant
Pune
CA Inter
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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CCI
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