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what is entry for salary paid in advance ?
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Answer / prasob.c.k
salary advance a/c Dr.(under 'loans and advances' asset)
To, cash a/c
| Is This Answer Correct ? | 321 Yes | 42 No |
Answer / musthafa musu melattur
Advance Salary A/C 1000.00 Dr.
Cash A/C 1000.00 Cr.
next entry is
Salary A/C 1000.00 Dr.
Advance Salary 1000.00 Cr.
| Is This Answer Correct ? | 255 Yes | 40 No |
Answer / yoosaf
TOTAL SALARY 10,000. Paid in Advance 2000
Journal
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
Then Payment
Salary Advance 2000 Dr.
To cash 2000. Cr
Balance Payment
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
| Is This Answer Correct ? | 192 Yes | 48 No |
Answer / amit
Payment..
Advance salary a/c ...Dr.1000
To Cash / Bank a/c...Cr....1000
then
Journal
Salary a/c ...Dr. 5000
To Advance Salary a/c Cr. 1000
To Salary Payable a/c Cr. 4000
Payment
Salary Payable a/c ...Dr. 4000
To Cash / Bank ... Cr. 4000
| Is This Answer Correct ? | 139 Yes | 11 No |
Answer / h.r. sreepada bhagi
As mentioned in the above answer salary advance is not given
to the employers. It's paid by the employers & employee is
implied as salary or salary advance is paid only to the
employees.
Whenever salary advance is paid debit the ledger A/c 'Salary
Advance' under Loans & Advances group. Whenever it's
recovered credit this account. If your software provides for
references, enter the name or ID No. of the employee for
control.
| Is This Answer Correct ? | 72 Yes | 8 No |
Answer / saurabh
salary advance under current assest effactive.
entry will be passed:
Staff loan & advance Dr.
To Bank / Cash Cr.
| Is This Answer Correct ? | 44 Yes | 6 No |
Answer / manoj v
Create individual ledger A/c for each employees (Sundry
Staff A/c under Loans and advance – Asset) when the advance
paid pass the entry as :- Name of Staff A/c …….Dr.
| Is This Answer Correct ? | 43 Yes | 13 No |
Answer / smruti ranjan panda
Payment Entry
Salary Advance 2000 Dr.
To cash 2000. Cr
Journal Entry
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
When Payment Extra Amout
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / mohamed rafeek
Journal
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
Then Payment
Salary Advance 2000 Dr.
To cash 2000. Cr
Balance Payment
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
| Is This Answer Correct ? | 15 Yes | 4 No |
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