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Leave encashment accounting treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 August 2011 plz suggest accounting entry for leave encashment and bonus payment
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
24 August 2011 As both are expenses so they have to be debited and the mode of paying should be credited.

Bonus paid A/c Dr.
Leave Encashment Expense A/c Dr.

To Cash/Bank

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