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Late delivery CV charges accounting treatment
late delivery charges should be treat as income or capitslise assets vy reducing assets.
Replies (5)
Please elaborate your case for an appropriate answer.
Later delivery of material from vendors so we deduction the penalty so it's should treated as income or as treated as reduced expenses cost
If its relating to the cost of a fixed asset, then deduct from fixed asset. Else, treat it as penalty income.
No this is general items both are used both activity capex and opex
If there is no proper bifurcation,please take it as credit to P/L as income.
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