Bahubali (Accounts Executive CWA Inter) (452 Points)
15 March 2011hi all
i have a doubt regarding sister concern companies like 2 of companies are sister concern & some payments will happen in one company but bill is in the name of other comapany & salary is paid on one company but pt paid on another company how to manage such things & one more is it ok taking the salary expense in paid company for which pt was paid on another company, kindly any one clarify.
Thanks in Advance
Bahubali
Pankaj Arora
(Learner)
(3134 Points)
Replied 15 March 2011
suppose sisters concern co. booking exp at H.O.
entry will be at H.O.
SALARY A/C. DR.
BANK A/C CR.
Entry in branch or sister concern
XYZ(SISTER CONCERN CO.)DR.
SALARY A/C. CR.
(BEING SALARY TRANSFER FROM H.O. TO SISTER CONCERN CO.)
And second query some purchase or expenses born by sister concern co. but payment made by H.O.
Entry in H.O. of bill accounted but goods recd in sistern concern
Branch or sister concern
Bank A/c.. Cr.
(being payment made to party .)
Entry in branch or sister concern
Purcahse A/c Dr.
Party A/c. Cr..
Party A/c Dr.
H.O. A/cr Cr.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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