Partnership accounting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2012 Dear Al,
Please let me know how to account the expenses made on Registration of Partner ship firm?
The expenses like Stamp duty, Xerox Charges, Conveyance expenses, Fees to the agent.
All this expenses were made before the registration of the firm.

Please assist.

CA. Subhash Dangi

CA. Subhash Dangi (Expert)
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30 November 2012 As the stamp duty, conveyance and fees to agent etc for partnership firm registration may not be substantial or material amount.

It is advisable to charge off to P&L account with appropriate head of accounts.