sir, i m working in an ngo as accountant but new. pleas
clear my doubt in tally. suppose 'a' salary is 5000. he
taken 3000 advance from salary and not returned. i paid a
cheque next month rest 2000. 'b' salary is 10000, taken 5000
advance from salary and returned so i paid him 10000 total
salary. what all to do in tally. is the following procedure
is ok or not?
- 5 Answers
- 6850 Views
- Banking, I also Faced
- E-Mail Answers
Answer Posted / gulzar singh
Case A : paid rs.3000 as advacne and salary is Rs. 5000.00
entry when paid advacne.
Mr. X ( assumed name) dr. 3000.00
Cash/ Bank A/c cr. 3000.00
( being cash paid as advance against salary)
When salary paid
Salary Expenses dr. 5000.00
Mr. X Cr. 3000.00
Bank A/c Cr. 2000.00
( being salary paid to mr. X after adjusting advance
rs.3000)
Case B : Paid Rs. 5000 as advace and salary is rs. 10000.
when paid advace
Mr. Y ( assumend name) Dr. 5000.00
Cash/bank a/c Cr. 5000.00
( Being paid advance)
when advence amonunt returend entery is
Cash/ bank A/c Dr. 5000.00
Mr. Y Cr. 5000.00
(Being amount refunded by Mr. y against advance)
When Salary is paid
Salary expensesa/c Dr. 10000.00
Cash/ bank a/c Cr. 10000.00
(Being salary paid to mr. Y for the month of ________)
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
Explain what is the disadvantage of double entry system?
why only 6 months interest is charged on drawings
How to prepare in yearly turnover?
What are the accounting events that are frequently involved in compound entries?
what is gl a/c? & why is it maintain
What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?
Tell me do you have any professional experience of this field?
Tell me what are things will not be included in bank reconciliation statement?
Explain dual aspect term in accounting?
Where do generally accruals appear on the balance sheet?
What is the definition of manual accounting?
What is the definition of offset accounting?
Scope and nature of Accounting
