Date of Accounting entry?

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Ravi Kumar Rajgaria (Querist)
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19 August 2009 A minor construction work completed on 12.08.2009. Invoice raised on company dated 16.08.2009 and it reaceived by the company on 22.08.2009. On which date expenditure will be booked in Accounts?

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Guest (Expert)

19 August 2009 Hi Ravi

In my opinion, the liability in the books should be created on 12.08.2009 since the company became liable for the work done. Date of invoice or receipt date has no implication on its accounting date treatment.

Trust this assists you.

Thanks & Best Regards
CA Himanshu Garg
ca.hims@gmail.com