30 May 2017
Please clarify this to me whether payment for furniture purchase made in 2016-17 however bill for the same has been received in 2017-18 mentioning date 23.05.2017, so whether bill to be entered in 2016-17 or 2017-18???
30 May 2017
Y so late? Its 2 months from year end. May b ur vendor is shifting his/her tax liability in coming year (17-18). There is no such issue in the transaction, but u can't claim depreciation on that Asset in Previous accounting year, as u need to book the entry in current financial year.
CAclubindia
