Wrong accounting of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 February 2013 Hello,
I have done 2 mistakes in 2011-12 accounting.
1) Bonus which was already paid in 2010-11, I have pass entry in 2011-12 also.
2)Bonus was Income but wrongly have shown as expense.
How to rectify in 2012-13 financial?
please help.
Thanks

Rajnish Singh

Rajnish Singh (Expert)
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06 February 2013 Dear Sir,

Firstly you have paid Bonus and you make the bank effect in 11-12.

you would made the follwoing entry on receiving the bonus.

bank a/c dr.

to bonus

but by mistakes it is grouped under the head of indirect expencess.

means your expecess came less due to this credit entry.

means to say there is no need to make adjustment. by default every thing is going in right way.