Gratuity fund balance reconciliation
This query is : Resolved
pradeepkumar ht
(Querist)
17 June 2018
Dear Sir,
We are having gratuity fund account with LIC of india.
My question is our SAP is showing different balance whereas fund balance is different in LIC of india
As per our system fund balacne is 58410309
whereas as LIC of india fund balance is 43783530
Is it correct or we need to pass necessary entries for who are claimed that means left employees amount
Please give me suggestion
Thanks
We are having gratuity fund account with LIC of india.
My question is our SAP is showing different balance whereas fund balance is different in LIC of india
As per our system fund balacne is 58410309
whereas as LIC of india fund balance is 43783530
Is it correct or we need to pass necessary entries for who are claimed that means left employees amount
Please give me suggestion
Thanks
CA R SEETHARAMAN
(Expert)
17 June 2018
Yes pass entries for left employees amount.
KAVIRAJA ADDANGADI
(Expert)
19 June 2018
Why there is difference? Did you pass entry for Gratuity settled employees in your system? Get statement from LIC and reconcile pass necessary entry.
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