02-03-2009, 07:33 PM
Dear Raja
You are recording salaries expenses cash basis for whole year except month of December here you are making accruel entry.
If you want to continue this cash basis accounting, you have to reverse that closing entry on 01-01-2009
You are recording salaries expenses cash basis for whole year except month of December here you are making accruel entry.
If you want to continue this cash basis accounting, you have to reverse that closing entry on 01-01-2009