telephone bill entry

hi all,

i m facing some problem with tel. bill entry in the books. my ques. is that if i received tel. bill for the month of april & may on dated 5th july and if the last date for depositing it on 10th august when i will entered the same....bcoz if i shows that on 31st may then fbt is the problem.

 

thanks

Replies (3)
It is a better option to follow cash method of accounting for telephone & electric bills.
pass the provision entry for april and may and whenver paid pass another paid entry on that date it self. and also FBT also attracts the date when ever it was paid
PROVISON IS MADE AT THE END OF FINANCIAL YEAR. PLEASE PASS THE ENTRY CASH BASIS. FBT IS TO BE DEPOSITED PROVISIONALLY LIKE ADVANCE TAX. HENCE THERE IS NO PROBLEM FOR PASSING THE ENTRY IN AUG.

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