Accounts queries [7]

I wanted to know accounting effect of below transaction.
Employee from my company wants to deduct the amount from his salary and want to contribute this amount to NPS.
How do i show this transaction in my books?
Please advise 🙏

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Abbas Ali Bohra

04 September 2023 at 13:29

Payment to labours

I have hire a person to make stock section for my ware house and I am paying daily amount on his day work and also have hire some labours for arranging the stocks for a short period. It is which type of expense for making payment , direct or Indirect and how to make the entry?

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Daya

27 August 2023 at 15:11

Journal entry in the case of individuals

I saw a journal entry in the case of individual books
Firm expenses A/C Dr.
LLP A/c Dr
To Profit and loss A/c
I mean what is firm expenses in the case of individual books.

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Daya

27 August 2023 at 14:18

Whether Personal expenses (as drawing ) can be opened in separate Group in accounts

Bank expenses ( Drawing) For Bank expenses
Medi-claim Expenses For Health Insurance for section 80C
Life insurance expenses for Life Insurance paid For section 80D
Donation for Donation paid for Donation paid under section 80G
Travelling expenses To Know separate total expenses incurred
Drawing ( for other expenses )

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Daya

27 August 2023 at 14:02

Accounting treatment in the case of LLP and partners

Accounting treatment of Advance tax and TDS paid by LLP and year end entry made by firm in the
books of LLP
In the books of LLP at the FY end
Partners capital account Dr.
To Advance tax

Now can i book the advance tax paid by firm in my books as Advance tax personal expenses in the FY year end in partner books
Partnership firm expenses A/c Dr
To Partnership firm A/c

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