Provision entry
Querist : Anonymous
give me a suggestion that : i have to enter electric bill from 1.03.2013 to 2.04.2013 having Rs. 8500.00 due as on 8.04.2013 i have to pass two entries
iN F.Y 2012-2013
Electricity expense
Prepaid Electricity exp
Electricity expenses payable
In F.y 2013-2014
Electricity expenses A/c
to Prepaid Electricity expense ?
or In expenses taken as provision fully in f.y 2012-2013 as
Electricity expense A/c Rs.8500
Electricity expenses payable 8500.00
you can make the provision for expenses up to 31st march and actual bill can be booked in fy-13-14 with reversing the provision entry
Querist : Anonymous
Ramesh Krishnan
it think so ist is fine
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