Entry posting Responsibility

This query is : Resolved

sandeep (Querist)
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10 August 2010 If there is one invoice for Telephone cost for the period 01.09.10 to 31.12.10.
The Entry will be Prepaid a/c ---Dr & vendor a/c –Cr

& in the respective period from 01.09.10 it will be Expense a/c----Dr , Prepaid a/c ---- Cr.

Who’s responsibility it is to post the second Amortization entry. Should it be posted by AP team or GL Team. We have confusion on it

Please advice.

CA SMR

CA SMR (Expert)
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10 August 2010 As per my past experience,AP team is required to keep track of Prepaid expenses and advise the GL team to charge it off as and when required.