Penalty is deducted from the contractor for non-compliace as to terms of agreement. What would be treatment of penalty in the books of accounts. Whether is be shown as deducted from the respective expenses or booked as miscellaneoue income. Please advice.

dEAR sIR

WE HAVE PASSED THE A/C ENTRY OF IMPORTED RM AT 31-3-2010 IS GIT-RM IMPORT TO O/S LIABILITIES AND REVERSE IN 2009-10 GOODS IN TRANSIT IS IN UNDER THE GROUP OF PURCHASE IN TALLY PLS PROVIDE THE CORRECT ENTRY WITH GROUP IN TALLY

Hello Everyone,

one of our client passes due entry of salrary in the next month(10th) as they say that salary cannot be derived on the last date of the month as they have to consider absentism,overtime,late etc.

i told them to although the actual salary is derived in the next then also he should pass due entry on the last date of the month only.

please clarify??
waiting for ur urgent reply.
Thanx in advance.

plz. let me know whether this entry is correct or not.
(just example)

for salary due
Salary a/c----dr 100000
To X's A/c 45000
To Y's A/c 45000
To P.T. Payable A/c 2000
To ESIC Cont of Employee A/c 2000
To T.d.s. Payable A/c.6000

For Payment

Mr. X's A/c-------dr45000
Mr. Y's A.c -------dr45000
To Bank 90000

is their other entry which is more better than this.

also let me know how to pass entry for advance Payemnt to be adjusted against salary of next month.

Waiting urgently for ur reply.

my id abhipcc@rediffmail.com

Is it right news that Internal audit is only be done by a CWA not a CA with effect from 2010???

Hello everyone,
could any one please let me know the difference between 'lease rent' and 'lease premium'.

which amount is not aplicable for TDS in case of Interest

DEAR ALL,

SLM METHOD : PLEASE LET ME KNOW THE ELIGIBLE AMOUNT OF DEP.AS PER PURCHASE DATE FROM THE MONTH OF MARCH 2010 TO AUGUST 2010.MONTH WISE :

1
CAR SX 4
RS.550000
PURCHASE DATE:1,Apr-10


2
SOFTWAE A/C
RS.234260
10,Mar-10


3
XP SERVER
RS.63489
10,Mar-10


4
LAPTOP BATTERY
RS.7500
8,Aug-10

What is Forensic accounting and what is the scope as a professional forensic accountant?? is there any specialised course to learn forensic accounting.

Fact of Case:
Our company has the Branches at Brazil,Thialand etc.The books of Accounts of the branches where audited and taxses are paid in respective company(i.e Brazil,Thailand).
Query:
How do i incorporate the account for those branches?
Whether line to line incorporation of ledger balance is necessary or only profit of branches can be in corporated?