Accounting adjustment

Pre Paid Expenses for example Insureance paid up to qtr ending June we can a/c as prepaid expenses for may & june. Rent,Telephone Bill, Eb Bill other expenses payable for the month ending whereas woudl have paid in April only i.e, next FY can be provided as follows.

Expenses A/c ... Dr

To Provision for FY200...- .. /Provision for Expenses Cr.

Altogether if an expeses/income pertains to previous FY & subsquently paid can be made provisions.