Service
2728 Points
Joined April 2008
The goods has been exported in March 2012 through your C & F Agent
Your C & F agent would have given you a quotation without that you would not have proceded to send the cargo through him.
So you can provide for a provision based on the quote and if you receive the bill in April , then you can rectify the entry if there is any +/- difference between the provision amount and the bill amount.
If the bill is received beyond your finalisation date for any reasons and if the differnce is very nominal , you can adjust the same in the current year , otherwise you have to account through Prior Period Expenses.