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Accrued commission income

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This query is : Resolved

nidhi (Querist)

25 June 2014 With reference to my earlier query about accrued income, i wanted to ask-whether this treatment is correct- last yr i made the foll. entry- accrued commission a/c dr. 460615 tds a/c dr. 51180 To party a/c 511795 party a/c 511795 To comm.received a/c 511795 now,in the current yr. when i received Rs.386154, bank a/c dr. 386154 To party a/c 386154 party a/c dr.386154 To accrued commission a/c 386154 whether this treatment is correct?? and what will be the treatment of( 460615-386154)74461??( i recd. the refund in which i claimed the tds for the said accrued comm.)

Nikhil Kaushik

Nikhil Kaushik (Expert)

26 June 2014 whatever portion of income you didn't receive, you need to write off. for the TDS part, you need to reverse the receivable position built..

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