Salary - can be negative
This query is : Resolved
22 September 2010
Dear All,
Please tell me, could we show negative salary in Trial balance. the company in which I am working, they have the corporate office in China for accounting work. in the trial balance they are showing negative balance under the head name *Offshore wages". is it possible.
thanks
Ravi Kant
Please tell me, could we show negative salary in Trial balance. the company in which I am working, they have the corporate office in China for accounting work. in the trial balance they are showing negative balance under the head name *Offshore wages". is it possible.
thanks
Ravi Kant
22 September 2010
It is possible.
Suppose in the month of March, an employee whose gross salary is 25000/-, but deduction on account of PF / TDS / other -advances comes to 28000/-, then it will be a negative salary payable.
The above was just a hypothetical case.
Suppose in the month of March, an employee whose gross salary is 25000/-, but deduction on account of PF / TDS / other -advances comes to 28000/-, then it will be a negative salary payable.
The above was just a hypothetical case.
22 September 2010
could we deduct these Rs.3000/- (28000-25000) from gross salary expenses.
22 September 2010
No... as its only an advance kind of thing, which will be recovered in the coming month.
So this 3000/- will appear in advances.
So this 3000/- will appear in advances.
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