31 October 2016
Dear Sir /Madam,
contract expired in August 2015, it was a 3 months contract.
extension required for 14 months.
how should I Address this?? please help
Regards
Rajalakshmi
02 November 2016
You have to enter into a new contract or add extension clause in the existing contract by amending the contract. If you are not sure regarding tenure of the contract, it is better to have an "extension clause" in the contract stating that it would be extended by mutual decision of both the parties to the contract.
As far as accounting is concerned, the entry has to be passed in the same ledger where you were passing earlier
CAclubindia
