naresh poojari (CS) 23 September 2020
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
prasad Nilugal 23 September 2020
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 .