Operating expenses
This query is : Resolved
11 February 2013
Dear sir
I make one invoice for our customer after completed the works rs.50,000/- and customer paid to us only rs.45,000/- and rs.5,000/- they deducted like penalty (work not completed on time) my question this rs.5,000/- is a operating expenses (we want to charge the proj) or we want to treat as bad debts expenses
Thanks
I make one invoice for our customer after completed the works rs.50,000/- and customer paid to us only rs.45,000/- and rs.5,000/- they deducted like penalty (work not completed on time) my question this rs.5,000/- is a operating expenses (we want to charge the proj) or we want to treat as bad debts expenses
Thanks
12 February 2013
Charge it to the project cost as it has been occurred due to the late completion of the project. There is no need to charge it in the P/L a/c.
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12 February 2013
Yes I agree with Mr. Sing the expenditure relates to the project and should be charged to the project.
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