Hi
I have a question in regards to the prepaid expense.
I have an invoice from a client which need to book in Accounts Payable.
Invoice to be paid in Jan 2015 (Future)
Invoice is related to the expenses which will incur in 2015
But the invoice should be booked in Accounts Payable in 2014, so where I can debit the invoice ?
Since the invoice not yet paid how can I put it in prepayments ( Deferred) ?
Thanks
Shamsu
I have a question in regards to the prepaid expense.
I have an invoice from a client which need to book in Accounts Payable.
Invoice to be paid in Jan 2015 (Future)
Invoice is related to the expenses which will incur in 2015
But the invoice should be booked in Accounts Payable in 2014, so where I can debit the invoice ?
Since the invoice not yet paid how can I put it in prepayments ( Deferred) ?
Thanks
Shamsu