Interested to Buy Any Domain ? << Click Here >> for more details...
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
- 13 Answers
- 54712 Views
- I also Faced
- E-Mail Answers
Answer Posted / altaf hussain
If you take a salary advance you have to create your
personal account and debit the amount to your personal
account. It means this amount is reflecting in the balance
sheet under sundry debtors. While creating the personal
account the account should be under current assets.
Journal Entry :
ABC account Dr
To Cash
(Being salary advance paid to Mr.ABC)
| Is This Answer Correct ? | 59 Yes | 14 No |
Post New Answer View All Answers
define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09
i did mba finance in 2010,but i came from life sciences to mba,i know in interview they ask y u came from sciences,so what i tell?pls reply me.
hi guys, pls refer me how to preppare for Indian Bank exams.
What does stand for EPD,MIS? Can anyone tell me briefly n clearly about this?
What is the base for issuing of C-form date of sale or date of purchase since goods sent by one quarter ended may reach in next quarter.
Short Answer on _________Financial accounting
IS ACCOUNTING MBA AND FINANCE MBA SAME OR DIFRENT
let me know the meaning and Nature of cash
how many types of financial teribuanal? what is that?
what is the difference between Assets Allocation & Security selection?
Please send me full details of MIS report how to prepare which item to be consider in MIS report? 2) full details of Esic, PF and Fbt and maharashtra labour welfare fund
differed tax liability
What Settlement details are required on the delivery instruction slip?
What is the difference between reserve and provision.
what are the financial ratios that a manager see in accounting?
