Bonus
This query is : Open
12 December 2012
Private Limited Co.
What is accounting treatement for bonus paid in current financial year (12-13), which is wrongly not provided in the books of earlier year (11-12) ?
Note - Written application received from employee in this matter.
What is accounting treatement for bonus paid in current financial year (12-13), which is wrongly not provided in the books of earlier year (11-12) ?
Note - Written application received from employee in this matter.
13 December 2012
Mr Joglekar!
If not provided in 2011-12 but paid in 2012-13 does not constitute a wrong. You can account for Bonus expenses on payment basis.
However, if you have provided in 2011-12 but not paid within six month then there would have been a WRONG.
If not provided in 2011-12 but paid in 2012-13 does not constitute a wrong. You can account for Bonus expenses on payment basis.
However, if you have provided in 2011-12 but not paid within six month then there would have been a WRONG.
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