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please explain me, if I pay salary advance 3000 to satish
then how to record entry, for payment, journal, adjustment
if salary is 1500/month
please send me correct entry shortly
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Answer / dareal michael
Dr. Sathish (Employee)A/c 3000
Cr. Bank A/c 3000
on the salary date you can deduct the advance paid
Dr. Salary A/c 1500 (or the agreed deduction)
Cr. Sathish (Employee)A/c 1500
The balance 1500 will be carried forward for next pay day
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / biswajit kolay
Advance salary paid Rs.3000
Advance Salary A/c (Satish) Dr. 3000
to Cash/Bank A/c Cr. 3000
At time of payment salary
Salary A/c (Satish) Dr. 1500
to Advance Salary A/c (Satish)Cr. 1500
and the balance of advance salary Rs.1500/- will be adjusted in next salary payment
| Is This Answer Correct ? | 5 Yes | 0 No |
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