CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Write off money lying in terminated of absconded employee

This query is : Resolved 

Dear members,

We are manufacturing company and as a policy we provided the some small advances to our employee to taken care their personnel needs,

We generally recover the money from their salary. But some times employee absconded without paying his advance and it is showing under employee advance in our balance sheet

Pls help me the correct accounting treatment and journal entry for write off the money lying in absconded employee as we don't see any chances for recovery

Pls do the needful


Credit advance and debit irrevocable advance write off.

thanks

irrevocable advance write under P&L?

Yes...............................


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Trending Tags
dvat
mca
cag
gstr 9
companies act 2013
epf
dgft
ca students
ca rankholder interview
epfo
aatmanirbhar bharat
audit
students
exams
gst council meeting
income tax
Others
VAT
Professional Resource
icai
ca exams
corporate law
pm cares fund
csr
law
icsi
close
GST Live Class

FM by Grant Thornton    |    x