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Hi All,
Please Tell me the Accounting Entry in following Case:
I am Preparing the General ledgers of a company as on 30-06-15 and i have to Accrued professional Expenses as on 30/06/15.
I have invoices( dated after 30/06/15) regarding the Prof. Expense while i preparing the GL and also have some Credit Notes regarding these invoices. suppose an invoice of Rs. 1000/- and Credit note of Rs. 250/- against the same invoice. Now i want to know whether i should Accrued the Exp. amount of Rs.750 through single Entry OR Should i required to post an entry of Credit note also.
Thanks!!!!
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