Provisino entry
Querist : Anonymous
In monthly closing ,I have to pay salary,conveyance,printing and postage exp 100000,20000,6000,4000 respectively for the month of Oct 12.
I have passed entry on 31.10.12. following entry
salary dr 100000
conveyance dr 20000
printing dr 6000
postage dr 4000
To respective provision a/c 130000.
I want to know on 01.11.12 what entry to be passed for avobe entry after paymet of this exp.
Regards
1) at the time of provision i.e. 31/10/2012
salary ac.. dr 1000000
conveyance ac. dr. 20000
printing ac.. dr. 6000
postage ac.. dr. 4000
to Provisions ac. 130000.
you have to be passed following entry at the time or after payment of provision amount.
2) at the time of actual payment..
cash/bank ac.. dr. 130000
to provision ac 130000.
Querist : Anonymous
regards
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