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how to enter annual maintenance service bill in account?

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how to enter annual maintenance service bill in account? ..

Answer / venkee

It's not a charge like installation charges or something
which covers replacement of non guarantee items in a
contract. Therefore its similar to Repairs and maintenance
and this need to be treated as expenditure in P&L account

Is This Answer Correct ?    3 Yes 0 No

how to enter annual maintenance service bill in account? ..

Answer / sankeerthana

It is an expenditure.So the entry should be

Annual Maintenance charges A/c Dr
To Cash or Bank or Service provider

Is This Answer Correct ?    3 Yes 1 No

how to enter annual maintenance service bill in account? ..

Answer / guest

annual maintenance service paid amount is the amount paid
in advance that's why we show this as prepaid exp. ... and
debited on each month of the year......

Is This Answer Correct ?    3 Yes 1 No

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