Leave encashment accounting treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2011
plz suggest accounting entry for leave encashment and bonus payment
CA Ashwani Agarwal
(Expert)
24 August 2011
As both are expenses so they have to be debited and the mode of paying should be credited.
Bonus paid A/c Dr.
Leave Encashment Expense A/c Dr.
To Cash/Bank
Bonus paid A/c Dr.
Leave Encashment Expense A/c Dr.
To Cash/Bank
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