accounting entry
This query is : Resolved
17 August 2010
Dear Expert,
Pls confirm this entry.
Expenses to be booked as on 31st March in P&L and BS.
say 2 bills Rs. 5000 & 11000 pertaining to Rep. & maintenance are to be booked.
Repairs & Maint. Dr 16000
To party 16000.
what is the diff. b/w provision & expense booking made as on last date of BS?
thanks
kirti.
Pls confirm this entry.
Expenses to be booked as on 31st March in P&L and BS.
say 2 bills Rs. 5000 & 11000 pertaining to Rep. & maintenance are to be booked.
Repairs & Maint. Dr 16000
To party 16000.
what is the diff. b/w provision & expense booking made as on last date of BS?
thanks
kirti.
17 August 2010
IF YOU HAVE RECEIVED BILL DATE BEFORE 31ST MARCH , THEN YOU HAVE BOOK THE EXPENSES BY NAME OF PARTY.
IF YOU HAVE NOT RECEIVED BILL TILL 31ST MARCH , I.E BILL RECD OF LATER DATE LIKE AUDIT FEE IN JUNE AFTERWARD 31ST MARCH, THEN YOU HAVE TO MAKE PROVISION AND DEDUCT TDS IF DUE.
IF YOU HAVE NOT RECEIVED BILL TILL 31ST MARCH , I.E BILL RECD OF LATER DATE LIKE AUDIT FEE IN JUNE AFTERWARD 31ST MARCH, THEN YOU HAVE TO MAKE PROVISION AND DEDUCT TDS IF DUE.
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17 August 2010
IN ABOVE CASE YOU HAVE TO MAKE ETNRY
REPAIR & MAINTAINACE DR 16000/-
TO EXPENSE PAYABLE-GENRAL 16000/-
WHEN YOU HAVE RECED BILL LATER
THEN
EXPENSE PAYABLE GENERAL DR 16000/-
TO PARTY 16000/-
REPAIR & MAINTAINACE DR 16000/-
TO EXPENSE PAYABLE-GENRAL 16000/-
WHEN YOU HAVE RECED BILL LATER
THEN
EXPENSE PAYABLE GENERAL DR 16000/-
TO PARTY 16000/-
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17 August 2010
Agreed with mr. Bansal
17 August 2010
yes agreed,
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