Bonus inclusive of salary
This query is : Resolved
17 November 2014
Dear All,
If my salary is inclusive of bonus then what will be the journal entry for the same ?/
Also let me know whether the effect of such salary wil be under the head salary only in Balance Sheet or separate head wil be effected & if yes what wil be that separate head ??
If my salary is inclusive of bonus then what will be the journal entry for the same ?/
Also let me know whether the effect of such salary wil be under the head salary only in Balance Sheet or separate head wil be effected & if yes what wil be that separate head ??
17 November 2014
In your books of accounts
Bank Dr...........................
To Salary...............................
To Bonus.................................
Bonus will be taxed under the head Salary.
Bank Dr...........................
To Salary...............................
To Bonus.................................
Bonus will be taxed under the head Salary.
17 November 2014
Dear Parul,
if my salary is inclusive of monthly bonus then what wil be its Journal enntry ??
& such bonus wil be shown separately or inclusive of salary in balance sheet ??
if my salary is inclusive of monthly bonus then what wil be its Journal enntry ??
& such bonus wil be shown separately or inclusive of salary in balance sheet ??
18 November 2014
First please confirm which books you are talking about yours or the company's?????
In Balance Sheet it will be separately mentioned under the head Employee cost
In Balance Sheet it will be separately mentioned under the head Employee cost
19 November 2014
hi parul,
its the company books & bonus matter relates to employees , so if the employees salary is inclusive of monthly bonus how it will be accounted in books of accounts & what will be the final effect in balance sheet ??
its the company books & bonus matter relates to employees , so if the employees salary is inclusive of monthly bonus how it will be accounted in books of accounts & what will be the final effect in balance sheet ??
19 November 2014
In companys books of accounts:-
Salary Dr.........
Bonus Dr.......
To Bank
In Balance Sheet:-
Under Employees cost
Salary............................
Bonus.............................
Total................................
Salary Dr.........
Bonus Dr.......
To Bank
In Balance Sheet:-
Under Employees cost
Salary............................
Bonus.............................
Total................................
19 November 2014
Dear parul,
thank you for your guidance.
If we have to hide this 'bonus'word in our books of accounts what wil be other word we can use for the same ??
thank you for your guidance.
If we have to hide this 'bonus'word in our books of accounts what wil be other word we can use for the same ??
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