how to calculate AMC charges for the financial year
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Answer / h.r. sreepada bhagi
If AMC Charge is paid in the middle of a Financial Year for
that year & next year, then calculate it prorata based on
No. of days from the AMC commencement date to the last date
for eh Financial year & for next year from the 1st day of
the financial year to the last day of AMC.
Eg. AMC paid Rs.28000/- for the period 25-10-20X0 to
24-10-20X1 - For the year ending March it's for 158 days -
Rs. 12121/- & for the next year it's 207 days - Rs. 15879/-
Rs. 15879/- shall be shown as Prepaid Expense in the year
end Balance Sheet.
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