Accounting entry for next year of out. expenses if excess

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Bidyananda kahar (Querist)
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24 June 2015 Dear sir
kindly help about following matter---
If i booked expenses which is estimated basis (because as on date i don't know how it will actual) as on 31-03-2015 as
example
31.3.15 Expenses dr 100000
to out expenses 98000
to TDs provision 2000
(Being Expenses outstanding as on 31.3.2015 and TDS deducted @2 % ..)

So my question is what is the entry of next year ( i.e from 01.04.2015) if --
i)Party actual Expenses excess i.e Rs.120000 as on the date of 31.03.2015
ii)Party actual Expenses short i.e Rs 80000 as on the date of 31.03.2015

Rupesh Jain

Rupesh Jain (Expert)
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24 June 2015 you have to take best estimate of exp., and if your b/s not make then you make diff entry in books,
otherwise in next year you have to books exp in

prior period/ exp./diff in estimate a/c

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