20 October 2012
Cheques issued for payment of expenses at the end of financial year but was cancelled in the next financial year what will be treatment for the same
20 October 2012
Make the Entry of Expenses in Last Year. & in Next Year Cancellation.
If Its Huge Amount, Then If Accounts Audited, Event Occuring After Balance Shet Date It will be Reported. If Not Then You Book Expenses For This Year then Next Year You Have to Reverse Same & Book as Income.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 October 2012
thanks a lot for your instant reply