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General Accounting Discussions: Provision

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    • CommentAuthorsyousuf
    • CommentTimeSep 8th 2008
     
    How to make provisions & cancel it
    Journal entries for making & canceling provisions
    what is the difference between provisions &
    general reserves
    big input
    Thankful People: prasanthi
    • CommentAuthorprasanthi
    • CommentTimeSep 10th 2008
     
    You can pass entry for provision,( eg for baddebts)
    Bad debts Dr xxx
    To Provision for bad debts. xxx

    When an expense (loss) incurre,
    We can pass reverse entry
    Provsion for bad debts Dr xxx
    To Bad debts xxx

    Similerly others also.

    Thanking you,
    Please confirm

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