05 March 2011
I provide provision for Last FY (2009-10). Why the extra amount will going to Reserve & Surplus A/C . and further this a/c how it can be close.
then you are talking about Current FY. If Audit Fee will credit. this audit fee is an Ind.Expense in Tally right. And auditors a/c it is also an expense or Current liability. kindly reply
07 March 2011
Last year (2009-10) you have made provision for exps. for Rs.. 20000/-, while actual exps. is Rs. 18000/- hence you have booked excess exps. in last year. Any reversal entry of last year expenses will be debited or credited to Reserve & Suplus A/c as last year's profit & loss is reflected in Res. & Surplus.
Auditor's A/c is Shown as sundry creditors under current liabilities in balance sheet