Payables
This query is : Resolved
13 October 2010
In My company, the case Salary (excluded leave salary and Gratutiy). the leave salary & Gratutiy retained by the comapny and that given only after two years.
How I can pass the entries? Specify the entries also?
How I can pass the entries? Specify the entries also?
13 October 2010
As per AS 15, based on acturial valuation , provision has to be taken in book. You should keep liability in the book.
Message likes :
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CMA Ramesh Krishnan
(Expert)
15 October 2010
For Gratuity and Leave encashment payable need to make entries in th books of account in every year based on actuial valuation the entries
Dr: Leave salary
Dr: Grauity
Cr: Leave salary payable
Cr: Gratuity payable
Dr: Leave salary
Dr: Grauity
Cr: Leave salary payable
Cr: Gratuity payable
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