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how to pass the entry of advance paid to employee against salary

Answers were Sorted based on User's Feedback



how to pass the entry of advance paid to employee against salary ..

Answer / raghu.v.

salary Advance Dr 5000
Cash/Bank Cr 5000

While adjusting Salary for same Person,

X salary a/c Dr 5000
salary Advance a/c Cr 5000

Is This Answer Correct ?    7 Yes 0 No

how to pass the entry of advance paid to employee against salary ..

Answer / satyakiraju

You better write the name of the person received Salary
Advance for clarity.
X salary advance
To Cash/Bank
You have to group the salary advance under Loans and
Advances(Asset)

Is This Answer Correct ?    1 Yes 0 No

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