Good morning experts,

I am a Accounts person working in an IT Consulting firm where the company works for international clients and very employee benefits are there.

There is a company policy in which an employee can avail work from option during their illness days where they can not travel to office but the rider was that during that period the company will only pay mobile expenses and petty expenses and rest complete salary will be paid in future after 5 years from the date of last work from home in a calender year.

But as there was only one case in the organisation so not much have been done in that respect.

now I have joined this company recently and that salary has become due to that person after 5 years but as I see accounts that no provision has been shown in the books so pls advise what can be done in this case.

As now when we will be paying the arrears and deducting TDS as well.

So need help in this regard from an expert.

Thanks

Sir,
i want to purchase CA- Final accounting standard book . please suggest me which book to purchase. i want book with more examples and more questions and answers.

what are pre-operative expenses??

cash payment made to an employee of rs 24000 i e more than 20000 against imprest for expenses.
whether it is disallowed or not

Sirs,

Ours is a manufacturing concern we are paying some travelling expenses like train/bus charges and accommodation for outsiders who are came for technical services for our plants can i debit these expenditure under travelling expenses others if we did so any taxes will attract on the same

Could you please explain the journal entries and the effect in R&P Account

1. FD Balance as on 01.04.2013 is Rs. 41,09,947.00 (This includes FD principle Amnt 40,00,000 and Int acrued 109947)

2. During the year FD is closed and recieved interest of 179442.00, what is the journal entry?

3. How this will effect in the Receipts and Payments Account?

Pls adv, if we make telephone payments for a lumpsum amount for subsequent months in advance, which entries should be passed. Pls explain the ledger name to be debited under which main tally head. Also, how will the entries be written off in the subsequent months. Pls explain dr and cr with example.

Thnx and regards
Gurvinder Singh

(1) When Invoice is raised in USD, the entry will be:

USD @ 60
USD INR
Dr. Debtor 1,000 60,000
Cr. Sales 1,000 60,000

(2) On receipt of the amount, the entry will be: USD @ 62

USD INR
Dr. Bank 1,000 62,000
Cr. Debtors 1,000 60,000
Cr. Forex Gain (Realised) - 2,000


Is it correct to recognize the Gain as realised Gain?

Sir,

TDS paid for the year is 10 lacks, but the 5 lacks of the above was not reflected in the 26AS, ITO Disallowed the same. In the above 5 L, 3 L worth details are found out,rest permanently lost...What is the accounting treatment of the above?

can we opening balances in expenses payable ledger...