14 September 2009
After closing the financial year i.e. 31st march., you have received a teliphone bill on dated 1st april ( And the bill was for the month of 1 mar to 31st march i.e closing year's last month)what treatment you will do in current financial year and closing financial year.
15 September 2009
If you have not made the provision in last year then debit it to telephone expenses account during the year. Maintain the same system of accounting. Telephone expenses being miscellaneous in nature will not vitate the overall financial position of the firm.
CAclubindia
