Wip

This query is : Resolved 

20 September 2012 i would like to make provision for my sub-contractor as on 31.03.2012. eq. rs.100/- as expense (WIP), rs.2/- as tds, then rs.98/- will go to which group? PLEASE GIVE US THE accounting ENTRY & GROUPING. {WIP-EXPENSES)

20 September 2012 If your question relates to new schedule VI then there are not your trade payables and hence they should be grouped as other current liabilites.

20 September 2012 thanks, but we want to know about accounting entry like head & group. It is not connected to Schedule VI


20 September 2012 Sundry creditors.

21 September 2012 I don't think, it is sundry creditor.

If it is income, it goes to income & current asset. Same way regarding expenses, it must be going expense & current liabilities but i am not sure, so i just want to clarify the same.

24 September 2012 It will be sundry creditors under the head current liabilities.



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