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Month end closing entries

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2013 Dear CCI members
while closing the monthly accounts .i am following the below mention procedure.
For Eg. salary

1.31st march(provision made)
salry a/c dr
to outstanding salary account
2.1st april(provision reverse)
outstanding salary a/c dr
to salary a/c
3.5th april(At the time of payment)
salary
to cash

whether i am following right procedure or
not.Is there any other method of doing that.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 August 2013 Yes. your entries are ok

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