Accounting enteries

Provisional entries

1) Audit/Accounting fee Dr

To Audit/Accounting fee payable (or provision for audit/accounting fee)

To TDS

2) Travelling Exps Dr

To Travelling Exps payable

3) Electricity Expenses Dr

To Electricity Expenses Payable

When the actual expense is being accounted, credit the provision account and debit bank/cash. Difference if any can be debited/credited to the respective expense account.

Thanks Poornima Madam.

Very well explained by Poornima.