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Short provision

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(Querist)
04 December 2011 while finalizing the accounts as on 31st March 2011 i have made short provision for audit fees , and filing fees now i have received the bill more than provision what should i do? please help me out .please guide me
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
20 December 2011 Dear Mugdha,
If the amount is not material, then book the same as current year expense and pay the amount. This will bot be termed as Prior Period Expense. If it is a material amount, then the same would be rendered as a prior period expense.
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Mugdha

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Mugdha (Querist)
22 December 2011 thank you very much sir
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