Journal Entry while making Year End Provision (Accounts)

This query is : Resolved

Jasmeet Singh

( Author )
20 May 2010

Please clarify me what entry should be passed in case of Provision for Audit Fees(consider TDS also) and entry for subsequent year.

DEEPIKA GOEL

( Expert )
20 May 2010

Audit fees A/c Dr.
To TDS A/c
To Audit Fees Payable

(Being the provision has been made for audit fee payable to............. for the period of .........)

In subsequent year

While making payment to auditor

Audit fees payable A/c Dr.
To Bank A/c

(Being the payment made to auditor)