Dear Members
My client has received travelling bills of his selling agent for the last quarter in the month of april-may. Now the problem is that when should he entered the expenses.
Thanks in advance...
2 Replies
Hari Babu
(CA Student)
(82 Points)
Replied 12 December 2009
If it is company, the accounting should be accrual basis. Your client should enter expenses in last month.
First!!!!
(student)
(162 Points)
Replied 26 December 2009
It has to be passed on the day of receipt of claim.The same will be considered as prior period expenses if a provision entry is not passed.
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