banner_ad

Provision

This query is : Open 
Profile Image

Profile Image

(Querist)
03 April 2015 DEAR SIR,

WE RECEIVE BILL FOR OUR CREDITOR FOR RS.3000, FACTORY EXPENSE FOR THE MONTH OF MARCH-15. WE RECEIVED BILL ON 2.4.14 FOR RS.3000. HOW CAN WE PASS PROVISION ENTRY?
I ENTERED LIKE THIS.

31.3.14 FACTORY EXPENSE 3000
TO PROVISION 3000
2.4.15 PROVISION 3000
TO CREDITOR A/C 3000

PAYMENT TIMES

CREDITORA/C DR
TO BANK A/C


AM I RIGHT SIR.

KINDLY REPLY ME IF ANY CORRECTION NEEDED.
Profile Image

Rajnikant Vadigoppula

Profile Image

Rajnikant Vadigoppula (Expert)
03 April 2015 yes gopal, your entries are right alternatively a single entry can be made instead of first two entries on 31/03/2015

Factory Exp a/c ....dr
To Creditor a/c
and at the time of payment

Creditor a/c....dr
To Bank

note : assuming that all transactions in the year 2015
Profile Image

Vivek Venkataram

Profile Image

Vivek Venkataram (Expert)
03 April 2015 Just a small joke.
If rajnikant has said that you are right gopal then even president of india cannot tell you are wrong.

Just kidding. Please dont mind 😊
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details