Creating provisions of expenses
This query is : Resolved
17 September 2012
Does creating provision means?
Expense A/c .....dr
To Expenses payable A/C
Then,
Expenses payable....Dr
To cash/ bank a/c
Since expense payable is of credit nature will be done like this I suppose? Am I doing right experts?
Expense A/c .....dr
To Expenses payable A/C
Then,
Expenses payable....Dr
To cash/ bank a/c
Since expense payable is of credit nature will be done like this I suppose? Am I doing right experts?
17 September 2012
Yes you are correct - take care to deduct TDS if required under relevant head.
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