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This query is : Resolved
Chandraiah
(Querist)
18 January 2017
Hi Friends,
Actually we had fired a employee from his service immediately and we are paying him 1 month salary in advance insteda of giving notice period. Can I show it as a salary?.
Please advice me.
Thanks in advance...
Actually we had fired a employee from his service immediately and we are paying him 1 month salary in advance insteda of giving notice period. Can I show it as a salary?.
Please advice me.
Thanks in advance...
CA Prashant Gupta
(Expert)
18 January 2017
you will show it as advance against salary in books which will be asset. because he/she has not earned it. when the month will complete then you will adjust it with his salary payable. so salary expense will be entered in books after completion of one month when you entered salary expense for rest of staff.
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