DEAR ALL,
HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN
ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c
AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know
whether it is correct or not. If correct, in my individual
ledger no entry is reflected. Alternatively, if I debit my
self and credit petty cash a/c it is reflected in the P & L
Account, but it is not an expense. and not reflected in the
balance sheet, but reflected in P & L. I think I need to
put a journal entry. Like debiting the salary account and
crediting the salary advance account. Is this correct or
not? Can any one help me please. my mail add:
cdvijay100@yahoo.co.in or kmlnkml@live.com
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Answer Posted / mr. he
ABCD A/C 100
TO BANK A/C 100
(When Sal. Adv being madeby cheque)
SAL ADV A/C 100
TO ABCD A/C 100
(Amount being transferred to Sal Adv.)
CASH A/C 10
TO ABCD A/C 10
(If any advance refund in cash)
ABCD A/C 10
SAL ADV A/C 10
(Amount being transferred to Sal Adv.)
SALARIES A/C 1000
SAL ADV A/C 90
ABCD A/C 910
(Amount being adjusted to Salaries)
ABCD A/C 910
BANK A/C 910
(Payment of remianing salary)
| Is This Answer Correct ? | 5 Yes | 0 No |
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sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest
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