At the time of journal entry
This query is : Resolved
26 May 2022
whether Party account will not be credited at the time of creating provision rather than it should be credited at the time when we receive final bill from Party.
Please reply
Please reply
27 May 2022
Party account will be credited after receipt of Final Bill.
1. At the time of making provision respective expense head will be debited and provision for Expenses (Liability Head) will be credited.
2. After receiving the Final Bill reverse the entry passed above and make the regular entry by debiting expense head and crediting party account.
1. At the time of making provision respective expense head will be debited and provision for Expenses (Liability Head) will be credited.
2. After receiving the Final Bill reverse the entry passed above and make the regular entry by debiting expense head and crediting party account.
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