Cash basis & due basis
This query is : Resolved
25 August 2012
Dear sir,
Please explain cash basis and due basis under the head salaries with examples
Thanking you
Regards
RAMESHA.M
Please explain cash basis and due basis under the head salaries with examples
Thanking you
Regards
RAMESHA.M
25 August 2012
Dear Reshma,
Cash basis means receipt basis.
Due basis means accrued basis.
If a Person has been employed on 1st Mar, the salary for the month becomes due on 31st Mar (Due Basis), but he receives the salary payment on 5th Apr(Cash or Receipt Basis).
Cash basis means receipt basis.
Due basis means accrued basis.
If a Person has been employed on 1st Mar, the salary for the month becomes due on 31st Mar (Due Basis), but he receives the salary payment on 5th Apr(Cash or Receipt Basis).
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25 August 2012
Agreed with the reply
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