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