Question { 11454 }

How we will dabit profit & Loss a/c in tally because profit
& Loss a/c is tally generated a/c. we have to make
provision for tax.

Answer

Just Pass a Journal entry on the 31st march.

Profit and loss account Dr
to Provision for Taxation

I think you havent noticed one thing in tally.

an Account by the name "Profit and loss" is already present
in the list of accounts.

go to Accounting vouchers\ Press F7 for Journal entry
change the date to 31 march and type pro..... we
automatically find profit and loss account displayed in the
list of accounts available.

Question { 4631 }

what is entry for salary advance? salary entry mentioned by
Indusial name

Answer

The Accounting Entry for Salary Advance would be as
follows:-

Salary Advance Dr
To Cash/ Bank A/c
being Salary advance paid to Mr.ABCD

Salary A/c Dr
To Salary Advance A/c
To Cash/ bank (With the Amount remaing after adjusting
the advance already taken)

*NOTE: - It is adviseable not to create an account in the
name of the employ while paying advance. you can use the
Narration of the Journal entry to mention the name of the
employee to whom the advance was paid.