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Querist : Anonymous

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Querist : Anonymous (Querist)
14 November 2011 sir we have booked excess bonus of rs 40000/-in f.y 2010-2011.now tell me can we written off this amt in f.y 2011-2012.if yes what will be accounting entry.
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
14 November 2011 I assume by booking you mean making provision for bonus which is excess by 40000.. If so is the case then you can defntly reverse the amount by debiting the provision account and crediting the bonus account.

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