one of my client has paid the petroleum bill of july'12 in september'12. i am emphasing with my senior that it is not reasonable and bill should be reimbursed and recorded within 3 months but he is saying that it wont affect if it is paid in the same financial year. what shall i do? if i listen to my senior, is it reasonable to reimburse the bill of 11 month old for same financial year?
1 Replies
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 03 January 2013
Hey,
Since we close our books of a/c in every march.. such expenses allowed.
Even if in Mar 12, provision for exp is made payment agst same can be made in next FY too.
Thanks!!
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