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.
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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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