REGARDING DEPOSITE

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accountant
564 Points Posted on 12 February 2020
RESPECTED ALL MEMBERS
DISTRIBUTER DEPOSTE 360000 2018 19.
AND IT IS NOT REFUNDABLE SO CAN ALLOWED IN 2019 20 TRF TO EXPENSE ACCOUNT.
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On 12 February 2020 at 13:39 Report
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A member is seeking advice on how to account for a non-refundable distributor deposit of £360,000 made in the 2018/19 financial year. As the deposit is not refundable and is a compulsory requirement as per the rules of a gas agency, the member is unsure whether it should be transferred to an expense account or treated as a capital expenditure for the 2019/20 financial year.

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"Do the Right Thing...!!!"
128162 Points Posted on 12 February 2020
How can deposit amount to expenditure head...?

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On 12 February 2020 at 14:36
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accountant
564 Points Posted on 12 February 2020
GAS AGENCY AND COMPULSARY DEPOSITE AS PER RULE SO THIS DEPOSITE IS NOT REFUNDABLE SO BALANCE SHEET ASSEST SIDE SO NOW THIS IS NON REFUNDABLE SO AOWED OR NOT TRANSFER TO DEPOSITE EXPENSES OR CAPITAL ACCOUNT.
PLEASE SUGGEST ME
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On 12 February 2020 at 14:47

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