Previous/prior period exp- clarification

This query is : Resolved

Suheel Ahmed (Querist)
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12 June 2009
Transaction/expenses related to
01.02.2009 to 26.02.2009

Whereas Bill date : 28.04.09

Bill Value : 50,000/-

Nature : Contract for Dewatering Works
(Maintenance)

Whether the above expenses can trated as previous year expenses/it is accounted
in current year ????

Please, answer with reason.

Jitender

Jitender (Expert)
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12 June 2009 it is the exp of current year (08-09) . it does not take any effect from its bill date becz exp relates to the year 08-09.- Matching concept.

Suheel Ahmed

Suheel Ahmed (Querist)
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12 June 2009 Sir, thanks a lot.

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