Answer / mahendran balakrishnan

Dear,
Salary Payable a/c has no use. Listen,

WHEN PAYING SALARY ADVANCE:
Salary Advance a/c Dr
To Employee's Salary a/c Cr

Employee's Salary a/c Dr
To Cash a/c Cr

WHEN PAYING BALANCE SALARY:
Employee's Salary a/c Dr
To Salary Advance a/c Cr
(Being Advance Salary amount recovered from Employee's Salary A/c)

Employee's Salary a/c Dr
To Cash a/c Cr
(Being Balance Salary paid by cash)


Best wishes,

-Mahi-
Accountant
FUMITECH, Kochi.

Answer / jj

If salary is 5000/- and advance paid is 4000/-

1) Payment:-
Advance salary a/c ...Dr.1000
To Cash / Bank a/c...Cr....1000

for the balance payment:

2) Journal:-
Salary a/c ...Dr. 5000
To Advance Salary a/c Cr. 1000
To Cash / Bank ... Cr. 4000

Answer / murali

Salary advance(employee name) a/c dr
To cash/bank

Answer / ali

how to account for an unsigned cheque issued in court case as a guarantee or security but not yet drawn and also double entry for when that cheque is drawn by the court decision.

Answer / damini rai

Paying advance salary is consider as loan and advance so pass the 1 entry in F5: advance salary A/C Dr.
To cash/bank A/C

Next when salary due: in F7 voucher
Salary A/C Dr.(indirect expense)
To salary advance (adjusted)
To. Salary payable(CURRENT LIABILITY)
NEXT IN F5 payment voucher
Salary payables A/C Dr
To cash.bank A/C

Answer / imran

Journal Entry:
When advance is given to the employee
Advance salary a/c 2,000 (Dr.)
Cash a/c 2,000 (Cr.)

When entry for salary is posted
Salary, allowance & benefit a/c 10,000 (Dr.)
Advance salary a/c 2,000 (Cr.)
Salary Payable a/c 7,500 (Cr.)

When salary payment is made:
Salary Payable a/c 7,500 (Dr.)
Cash/Bank a/c 7,500 (Cr.)

Answer / imran

Journal entry for advance salary (Comprehensive)

TOTAL SALARY of $10,000 (Tax deducted at source of 5%) and Paid in Advance 2000

When advance is given to the employee
Advance salary a/c 2,000 (Dr.)
Cash a/c 2,000 (Cr.)

When entry for salary is posted
Salary, allowance & benefit a/c 10,000 (Dr.)
Tax deducted at source - salary a/c 500 (Cr.)
Advance salary a/c 2,000 (Cr.)
Salary Payable a/c 7,500 (Cr.)

When salary payment is made:
Salary Payable a/c 7,500 (Dr.)
Cash/Bank a/c 7,500 (Cr.)

When payment against Tax deducted at source is made:
Tax deducted at source - salary a/c 500 (Dr.)
Bank a/c 500 (Cr.)

IMPORTANT NOTE: Advance against salary is offset/Canceled out against salary expenses.

Answer / hitesh

How to nil salary account

Answer / nitesh chaubey

profit & loss A/c ... Dr.
To salaries payed in advance A/c ..
(Being salaries rs.. payed in advance)

Answer / b.thirupathi

salaries a/c...dr
cash a/c
(being paid salary in advance)

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