Sachin More (MBA-Finance Executive - accounts & Finance) (422 Points)
04 May 2013Dear all,
i have 1 bill of omprakash joshi dt 04.01.2013 which is having AMC CHARGES for the period 01.01.2013 to 31.12.2013. we had paid this bill on 19.04.2013. mine q is how shud i account this bill. i cann't take 9 months exp as a prepaid coz payment is done in next F.Y. i.e. 2013-14.
waiting for reply
Rahul garg
(ca final student)
(89 Points)
Replied 06 May 2013
if you dont book prepaid exp then , journal entry will be
amc exp 4.1.2013
to party
party 19.4.2013
to bank
if you book prepaid exp then,
amc exp 4.1.2013
prepaid exp
to party
party 19.4.2013
bank
payment is not relevant. expenditure is book between two financial year
Sachin More
(MBA-Finance Executive - accounts & Finance)
(422 Points)
Replied 07 May 2013
thnks rahul
rashmita batawle
(1 Points)
Replied 22 July 2016
can you help me, in which head have to select in tally for amc charges & party a/c ?
CAclubindia
