24 June 2015
Dear sir kindly help about following matter--- If i booked expenses which is estimated basis (because as on date i don't know how it will actual) as on 31-03-2015 as example 31.3.15 Expenses dr 100000 to out expenses 98000 to TDs provision 2000 (Being Expenses outstanding as on 31.3.2015 and TDS deducted @2 % ..)
So my question is what is the entry of next year ( i.e from 01.04.2015) if -- i)Party actual Expenses excess i.e Rs.120000 as on the date of 31.03.2015 ii)Party actual Expenses short i.e Rs 80000 as on the date of 31.03.2015
24 June 2015
you have to take best estimate of exp., and if your b/s not make then you make diff entry in books, otherwise in next year you have to books exp in
CAclubindia
