Payment done in FY17-18 and Invoice yet not book in FY 20-21

A/c entries 86 views 3 replies

Hi,

I have make the payment to vendor in year 2017-18 but miss to book the expenses ever received the invoice. now i have seen the debit balance of that particular vendor accounts. now i need to book expenses. how i can book that expenses any one can you give me guidance.

Replies (3)
You can book it but it is disallowed under income tax act, prior period expenses

If you have the invoice from the vendor for the current year, you may be able to book the expense.

Thank you for your Valuable Reply


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