Answer / bharathi

Staff Advance (Employee Name) A/c Dr. 5000
To Cash or Bank A/c 5000
(Being Advance taken by Staff)

Staff Advance to be created under Loans & Advances under
Current Assets.

Cash or Bank A/c 5000
To Staff Advance (Employee Name) A/c 5000
(Being Advance Settled by the staff) (for single payment)

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If Staff Advance is to be adjusted with Salary A/c in five
equal instalments (5x1000) then following entries to be
passed
(for First Month Staff Advance Adjustments towards his
salary a/c)

Salary A/c 8000
To Staff Advance (Employee Name) A/c 1000
To Salary Payable A/c 7000
(Being Salary Paid to (Employee Name) and his first
instalment of Advance account adjusted with salary a/c)

Salary Payable A/c 7000
To Cash A/c 7000

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