Hi,
Accrual Entries, in normal accounting parlance mean provision for expenses.
Now, normally we do an accrual at the monthend for expenses which are incurred but no bill has been received. Once the bill is booked, the accrual entry needs to be reversed.
So what normally is done is accrual is made only for items which require provision as on particular monthend.. and is reversed at the beginning of the next month.
Assign pts if useful
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.