Provisions

Dear

You will be receiveing March Telephone bill/Rent/MES/Insurance only in April ie., while clsoing the accounts. So if you make provision in the March itself since its pertains to that particular year you have accounted for the particular financial year.

Entri wiill be

Telephone       }

MES Charges }

Rent              }

Insurance      }  Dr                       Rs: xyz

Provision for Expenses  Cr           Rs: xyz