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Provision account treatment

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6 Points Posted on 18 August 2023
You provisioned some amount for the financial year 2022-2023 how ever now we got excess amount invoice so what treatment of account
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On 18 August 2023 at 18:00 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 19 August 2023
Segregate the provision value and excess value. Post the excess value in current year expenditure account...
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On 19 August 2023 at 21:16
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Team Lead
7558 Points Posted on 19 August 2023
Either you reverse the provision in current year and record it at actual value in current year, or record only the excess in current year
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On 19 August 2023 at 22:02


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