Dear All,

Incentives given to employee in cash or in kind should be included in which Account head, should it be included in salary of employee or should it be included in separate head i.e., Incentives to employees.

Thanking you

To
The experts
Can any one clarify what is actual purpose of Debit Note & Credit Note?

Regard
Abhijit

what is standard procedure( Formula) to calculate Interest on Loan Given /Received P.A.

Dear Sir,
I want to know weather works contract receipt comes under sales a/c or direct income A/c?

Because, in VAT bill there was a bifurcation of labor bill and the material bill. And we considered material bills under sales and labor bill under direct Income.

But in GST there is no such bifurcation. now how should we consider the contract Receipt?

Thanks in advance
Sowmya Santhosh

shareholder can be related party,only if he has hold shares.

we had booked salary in previous years but due to COVID did not pay in full. later on, when the management decided to pay back the deductions, the employees were not traceable as they were mostly labor class. now, can the company write-off the expense in the current year or there would be some legalities involved in it

Discount Received against FIXED Assets
Discount Given against Fixed Assets
How to book in Books of Accounts
and
Discount Given and Discount Received against Revenue income and expenses how to books in books of Accounts.

Dear Sir,

I have a client who has a Private Limited company and having turnover of Rs. 27 crores and have transactions in Bank of around 10,000 entries.

I want to know if I am writing his entire accounts in Tally along with doing GST reconciliation what should be the minimum amount I must charge from him as my accounts writing charges except Tax audit.

Please help me in this matter.

Regards,
Divyesh Jain

Respected Sir , my question is that when NPO receives fund for creating assets then when asset is created equal amount is transferred to capital reserve but why it is not income for NPO as it is getting asset free of cost ?

Dear sir,
I need advise from expert on accounting standard pertain to revenue recognition.
Case :
Responsibility of transportation of goods lies with supplier. Customer will inspect goods at supplier factory and instruct to supply to their location. It will take 1 week to reach customer location.
My query - when supplier need issue e invoice - whether at the time of removal or reaching at customer office.
i need advise from Accounting standard of revenue recognition and compliance with gst.