DEAR SIR/MADAM,
PLEASE ADVISE ME ON FOLLOWING :
PROJECT GIVEN BY GOVERNMENT,IT IS COMPLTED AND MONEY RECEIVED AGAINST THE SAME ,
THEN IT WILL COME UNDER WHICH HEAD IN IN BALANCESHEET/PROFIT AND LOSS ACCOUNT.
REGARDS/JYOTSNA
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Please advise
Replies (2)
Miss JYOTSNA
As you have describe the your problem than it shall be shown in the P&L or if it is NGO then in the Income & Expenditure and all the expenses related with the project charge in the I & E Account but all expenses must be in the nature of revenue exp.
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