When an expense is treated as advance

Discussion in 'A/c entries' started by varun, Apr 2, 2014.

  1. varun

    varun Member

    License renewal of a company is due in November. Validity of the license, in this geography, is one year. The payment for the same is done in October for statutory fees etc. through a third party. Will this be treated directly as an expense or as advance?

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