Accounting entry omitted earlier

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2012 Dear Expert

Salary is paid at in the beginnin of the month but entry was not passed. Please tell how will we record this particular transaction

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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17 July 2012 If only payment entry was ignored, then it is not a major issue as the entry can be paassed later on. Moreover, it will be reflected in the BRS.

But if the expense booking entry is pending then a lot of ledgers and statutory compliances are going to be effected. TDS, PF, ESI, ll will be effected. Please make sure that this entry was timely passed.

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Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2012 thank you sir