Cheque Cancelled

This query is : Resolved

kuldeep (Querist)
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07 April 2011 Dear All,

plz my solve quaries.

example:
1.we salary paid F.Y 09-10 & tds deducted & deposited but cheque not issued to employee till dated.
how salary expenses reverse in next financial year 10-11 & new cheque issued.

this ism urgent.

Thanking You

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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07 April 2011 During FY09-10, the payment entry would be :

salary payable............Dr.
To Bank............................Cr.

Now on reversal :

Bank...............Dr.
To Salary Payable..............Cr.

& again on payment

salary payable............Dr.
To Bank............................Cr.