The deductions done from salary for late comings whether to be credited to salary account so as to show the net expense or to be held under current liability ?What would be the accounting treatment and the legal provisions in this regard.
Girish Joshi (Practice) (67 Points)
01 April 2015The deductions done from salary for late comings whether to be credited to salary account so as to show the net expense or to be held under current liability ?What would be the accounting treatment and the legal provisions in this regard.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3368 Points)
Replied 09 April 2015
Do not credit salary a/c. Show the net amount of salary in Salary a/c. That is all.
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