Salary booking

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21 Points Posted on 04 May 2018

Hi ,

 

One of my friends company booking salaries as per below:-

 

1. Employees Joined after 20 will not get salary and cost will also not booked but PF contribution is booked in Current month.

2. IN next month he is booking the cost of 40 Days is this a right practice as per AS?

 

 

 

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On 04 May 2018 at 11:56 Report
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Accountant
1878 Points Posted on 04 May 2018
No.....
1 Reply
On 04 May 2018 at 12:05
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teaching
1168 Points Posted on 04 May 2018
they need to follow mercantile system of accounting. so they need to book salary expenditure on 31st March itself.
1 Reply
On 04 May 2018 at 19:02
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199 Points Posted on 05 May 2018
No, the salary expense must be booked in the respective year of being due itself.
1 Reply
On 05 May 2018 at 10:45

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