Accounting query?

Question

With a year end of 31/07/06. If I receive an invoice dated 3/8/06 and it relates to July, is it right to bring it into the July accounts by debiting expense crediting the accruals account?

Answer 1

Yes, if the entire invoice relates to the year ended 31 July that would be the correct treatment

Answer 2

yes its an accrual, but you need to load the invoice in august as normal to account for VAT etc..and then post an accrual between the nominal expense code and accruals bal sheet code for it to appear in accounts for the period ended 31 july 06.

PS.. i was 30 on 3/8/06 lol.

Answer 3

Yes ,if the invoice relate to an expense, but if it is for the purchase of goods to be sold or parts to be used in a production process,it should be posted into purchases as well as accruals.

Answer 4

You require PAN card to open D Mat account. you ought to open D Mat account and determining to purchase and merchandising account with any between the depositories. most of the Banks even have this facility i their significant branch. you may touch your economic business enterprise. you have o open mark downs economic business enterprise account additionally with the economic business enterprise. online facility is elementary with the economic business enterprise. do not provide any potential of criminal expert to the depositories. you're able to do when you have some adventure. For the D Mat account their is not any get right of entry to fee, they fee 0.5 each year approximately Rs500 - Rs600 make investments your surplus funds basically. bypass with the aid of economic magazines / papers / television channels telecasting share to get some hardship-unfastened information.

Answer 5

yes

Answer 6

Yes that is correct.........

Well done !