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Entry treatment

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(Querist)
12 August 2014 how to book 'loss of pay' which is deducted from salary?

is it an expense and debited to p&l or it has anything relating to current asset?

pls show the entry...
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Rupesh Jain

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Rupesh Jain (Expert)
12 August 2014 it is not clear loss of pay

if you deduct the amount from employee . due to company loss the you can credit the loss a/c. or you make recovery and to be paid to govt. authority then its your liability.
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