Gratuity payable
This query is : Resolved
06 January 2020
Dear Team,
We have passed journal entry for Gratuity payable dated 31.3.19 as follows:
Gratuity A/c Dr
To Gratuity payable A/c
If there was no gratuity paid for the payable amount entered earlier and the new provision has to be created for the FY 19-20.
In this scenario, what about the old payable balance entered on 31.3.19.
Will that be added to current year provision? Or is there a cancellation entry for the old amount?
We have passed journal entry for Gratuity payable dated 31.3.19 as follows:
Gratuity A/c Dr
To Gratuity payable A/c
If there was no gratuity paid for the payable amount entered earlier and the new provision has to be created for the FY 19-20.
In this scenario, what about the old payable balance entered on 31.3.19.
Will that be added to current year provision? Or is there a cancellation entry for the old amount?
06 January 2020
Reverse old provision........
Message likes :
1 times
06 January 2020
Welcome................
08 January 2020
When I am reversing the entry for Gratuity payable, the net Gratuity amount is coming as a difference between old amount and new entry .
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