Hi Parveen,
ByDeign has the details of provision but misssed to provide standard process steps (shown below)
Allowance for Doubtful Accounts
Overview
For year-end closing, you value your receivables with regard their credit risk. On the basis of your business experience, you determine a percentage for losses on receivables. You apply this percentage to your receivables and post the credit risk to a separate account.
Posting Allowance for Doubtful Accounts
To post an allowance for doubtful accounts, create a journal entry voucher in the General Ledger work center, Journal Entry Vouchers view.
The allowance is posted to the following accounts in the delivered charts of accounts:
Posting Type | Account |
|---|---|
Debit | Adjustable General Provision for Receivables |
Credit | General Provision for Receivables
|
Thanks for your response
Govind Sharma