Provisioning

India Discussion in 'General Accountancy Discussion' started by Sneha arora, Jun 15, 2017.

  1. Sneha arora

    Sneha arora

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    Hi

    Hope all of you are doing well.

    I have below query. Please assist.

    Ex. we are creating Buffer provision of let's say 100 RS in April.

    In May... Reversal of 100 will happen automatically.

    And now my boss is saying to RELEASE the Buffer created in April in May


    Do I need to post any entry
    Or this reversal itself means release in the Buffer provision.

    Please help.
     
    Sneha arora, Jun 15, 2017
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  2. Sneha arora

    Fidget VIP Member

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    If the provision will automatically reverse in May then you don't need to do anything else.
     
    Fidget, Jun 16, 2017
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