AA-14-Considration of Salary and Travelling Charges of Previous Fiscal Year in Current Fiscal Year

The new employee must not get this money.



However, the expenses must be booked not under the original charges.

Sorry, I don't understand. please elaborate.

He meant no need to give any salary as per company policy but expenses can be reimbursed as he would have spent it from his pockets. So how did you waive off the travelling expenses

Dr. Payables

Cr. Travelling expenses. 

Reverse it again. 

Hi Yasaawi Gomes,

I think above of my content unable to give complete sense of matter to respected members that is why I try to convey my qurey in Hindi.

Actually, matter ye hai ke aik company ne apne kisi ex employee ke dues jis mein salary or kuch charges shamil thy (Jo use reimburse kiye Jane thy) rok liye thy kyunki us employee ne miscommetment ki or notice period pura nahi kiya tha. Us company ke Accountant ne un dues ko payable record nahi kiya tha because condition ye hi this ke ye dues ab pay nahi kiye jayenge.

3 sal bad same employee ko company ne dobara hire kiya or ache gesture show krne ke liye Jo roke huwe dues thy in ko employee ko pay kr diya.

meri qury ye thi ke:

1-company ne Jo previous year ke dues jo ic sal mein pay kiye use kis account ke under record kiya jaye ga or iski kya entries pass ki jaye gi ?

2- Kya ye dues current fiscal year ki income se minus kiye ja sakte hein profit nikalne ke liye ? Sath sath kya tax authority ic expense ko ic fiscal year ki profit nikalne ke liye allow krengi ?

Please educate.

Hi Yasaawi Gomes,

Your kind response awaited. 

Its all your company policies bro! If your company doesnt have policies than your liable as per law to give salary plus reimburse expenses. The above guy absconded i guess :)