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

Mohib (accounts) (28 Points)

04 August 2021  

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.


 3 Replies

sandeep reddy (29 Points)
Replied 04 August 2021

You can book it but it is disallowed under income tax act, prior period expenses
1 Like

CMA Poornima Madhava (CMA) (12985 Points)
Replied 04 August 2021

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

1 Like

Mohib (accounts) (28 Points)
Replied 05 August 2021

Thank you for your Valuable Reply


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