Debit Note Accounting

shashank (CA-FINAL Student) (95 Points)

10 July 2011  


Hello Friends, 

Kindly help me out in understanding the accounting treatment of debit notes received 

Doubt is as follows : 

- Holding comp incurred expenditure in Jan 11 ( Revenue in nature)
- Raised a debit note in June 11. ( Amount mentioned in foreign currency)
- What should be the accounting for the above ?
- Since the exp pertains to 10-11, should we book the exp in 10-11 or since the debit note is dated June 11, should it be booked in 11-12 ?