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Provisions
Dear sirs,
can anyone please explain provisions in finance and some useful points regarding that
Replies (1)
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
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