25 June 2014
With reference to my earlier query about accrued income, i wanted to ask-whether this treatment is correct-
last yr i made the foll. entry-
accrued commission a/c dr. 460615
tds a/c dr. 51180
To party a/c 511795
party a/c 511795
To comm.received a/c 511795
now,in the current yr. when i received Rs.386154,
bank a/c dr. 386154
To party a/c 386154
party a/c dr.386154
To accrued commission a/c 386154
whether this treatment is correct?? and what will be the treatment of( 460615-386154)74461??( i recd. the refund in which i claimed the tds for the said accrued comm.)
26 June 2014
whatever portion of income you didn't receive, you need to write off. for the TDS part, you need to reverse the receivable position built..
CAclubindia
