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accounting entry

This query is : Resolved 
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(Querist)
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.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
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.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
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/-
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
17 August 2010 Agreed with mr. Bansal
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
17 August 2010 yes agreed,
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