A/cing of yearend provision with tds effect to vendor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 April 2014
what will be the entry(es) of Year end Provision with TDS deduction and TDS effects to be given to vendor for non-receipt of Actual Invoices?
27 April 2014
1.,,,,,,,,,,,Expenses Account Dr.
To Prov. for Exp./Exp Payable
TO TDS Payable A/C Dr.
(Being Provision made for ....Exp for the month of MArch'14)
2 Beginning of the Year
Prov for Exp. A/c Dr.
Party A/c Dr. (TDS Amount)
To PArty A/c (Full invoice Amt.)
3.And thn pass the entry of TDS payamen tand Party Payment
To Prov. for Exp./Exp Payable
TO TDS Payable A/C Dr.
(Being Provision made for ....Exp for the month of MArch'14)
2 Beginning of the Year
Prov for Exp. A/c Dr.
Party A/c Dr. (TDS Amount)
To PArty A/c (Full invoice Amt.)
3.And thn pass the entry of TDS payamen tand Party Payment
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 April 2014
How can we give the credit of TDS deducted to vendor at the time of provision?
28 April 2014
We are not giving credit of TDS, We are making Provision for tDS
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