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Bonus & CTC

This query is : Resolved 
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(Querist)
11 May 2010 Dear Sir,

We have made provision for bonus for 2009-10 for Rs 3000.I wish to know how we book the salary in our books of account? Because suppose in 2009-10 Mr.A get 80 thousand CTC and the bonus liability is another 3000 for 2009-10 but we did not adjust/pay 3000 thousand amount for bonus in 2009-10.Since he got his Total CTC we have not to pay another amount but because of adjusting bonus payable amount how it is to be adjusted/booked in 2010-11 from salary .Whether CTC got changed or not.


Please do the needful.

Thanks & Regards,
Raghav Jha
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
11 May 2010 The bonus provision at the year end is just a provision made in the books in line with the accrual system of accounting.

While paying the bonus in the next year reverse the provision and pay the employee.
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