CCI Online Learning
What do you want to learn today?


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Leave encashment payable entries

naresh poojari (CS)     23 September 2020

naresh poojari
 25 points

| My Other Post


we have paid leave encashment to the employees on the date of 07/08/20 from Jan 2019 to Dec 2019

So kindly clarify what will be the expenses entry and payments entry with what date this will comes in tally

Naresh Poojari

prasad Nilugal   23 September 2020

prasad Nilugal

 129 likes  2019 points

View Profile | My Other Post

On 31 at March 2020 you have to pass entry as follows .

Leave encash Expense A/c Dr
To Leave encash Expense payable 2019-20 Cr
( Being leave encash Expense from Jan 10 to Dec19 payable )

On 1/4/2020 you have to carried forward as oping balance Leave encash Expense payable 19-20 A/c

on 7/8/ 2020 you pass entry
Leave encash Expense 19-20 A/c Dr
To Bank A/c A/c. Cr
( Expense of 19-20 paid) .

Leave encash Expense payable 19-20 A/c will under provisions , liability Side .

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Bajaj Finserv

Related Threads


Trending Tags

Daily Latest Updates in your Mail Inbox