Expenses

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

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

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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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

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