our electric meter have been replaced and received a bill.. how should i account. help with with entry and legder name under which head also
7 Replies
Neha Chhapolia
(Chartered Accountant)
(36 Points)
Replied 14 October 2015
If the expenditure amount is huge, U can capitalized otherwise it is booked under electricity charges
Rno
(Accountant)
(71 Points)
Replied 14 October 2015
thanks. it amounts to 6000. note that we are in a rental premises. the same amount will given by ourself on the behalf of owner and such amount will deduct from the office rent payment. so whether i need to expense this???. suggest the entry.
Neha Chhapolia
(Chartered Accountant)
(36 Points)
Replied 14 October 2015
when u made the payment
owner a/c dr
to cash
when the electricity bill will come
Electricity charges dr
to owner
to cash
Neha Chhapolia
(Chartered Accountant)
(36 Points)
Replied 14 October 2015
it doen not affect ur books..bacause u paid it on behalf of someone else.
Rno
(Accountant)
(71 Points)
Replied 14 October 2015
thanks... whether i must deduct the tds on service part of the bill??
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