Late Deduction Account Nature
My Videos (Accounts Officer ) (92 Points)28 March 2023
I worked in a firm where they deduct late arrivals from salary (1 day salary deduction on 3 late arrivals during a month which increases every 3 more late arrivals). Further, sometimes they also adjust short leaves hours from overtime hours. Please educate me on following:
1-What will be the general entry for late arrival deduction ?
2-What will be the short leave adjustment journal entry ?
3-What is the nature of this deduction account and where it will be goes in P&L or Balance Sheet ?
Thanks in Advance.