Journal Entry while making Year End Provision
This query is : Resolved
Jasmeet Singh
(Querist)
20 May 2010
Please clarify me what entry should be passed in case of Provision for Audit Fees(consider TDS also) and entry for subsequent year.
Please clarify me what entry should be passed in case of Provision for Audit Fees(consider TDS also) and entry for subsequent year.
DEEPIKA GOEL
(Expert)
20 May 2010
Audit fees A/c Dr.
To TDS A/c
To Audit Fees Payable
(Being the provision has been made for audit fee payable to............. for the period of .........)
In subsequent year
While making payment to auditor
Audit fees payable A/c Dr.
To Bank A/c
(Being the payment made to auditor)
To TDS A/c
To Audit Fees Payable
(Being the provision has been made for audit fee payable to............. for the period of .........)
In subsequent year
While making payment to auditor
Audit fees payable A/c Dr.
To Bank A/c
(Being the payment made to auditor)
Rahul Gupta
(Expert)
21 May 2010
Agreed.
Also further on payment of TDS....
TDS Payable A/c......Dr.
To Bank/CAsg A/c......Cr
Also further on payment of TDS....
TDS Payable A/c......Dr.
To Bank/CAsg A/c......Cr
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