Negative cash during 3 months

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2013 One my Client have negative cash during some months of previous year because of negligence of Accountant, the reason is because they pay salary in cash , Please suggest me how can I make that positive

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 July 2013 IF salary is paid in cash ,it means actually cash was there so pass cash entry in deposit which is paid for salary.

Ganeshbabu K

Ganeshbabu K (Expert)
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08 July 2013 Just verify whether date of transactions is correct or not..

1)date of cash receipts and cash withdrawn from bank whether entries properly passed as per bank statement dates or not,

2)and also ensure date of payment made to salaries and other cash payments were entered on what date it is actually paid

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2013 Actually, All the Transaction are ok , date are confirmed, but the client didi not withdrawn cash from bank & all the expenses including Salary are paid , by cash they have unrecorded , the year ends , thats why I am looking for the best alternative from Income Tax point of view to make it positive , Please suggest.....

Ganeshbabu K

Ganeshbabu K (Expert)
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09 July 2013 adjust entries in a way cash receipt was before cash payment date..it will automatically gets positive

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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09 July 2013 Book cash deposit enrty.

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