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
- 54606 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / snehal
Pravin a/c dr. 1000
To Salary Payable cr. 1000
(being advance salry paid for the moth Dec. 2011)
Salary Payablea/c dr. 10000
To Cash cr. 9000
To Pravin a/c cr. 1000
(bening part of salary given for the month of Dec 2011)
Pravin - Sundry Debtor - Current Assets
for better account nomeneclulture as salary advance to pravin as their are the cases where where different kind of advances are given to the same person
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / jakir khan
ACCOUNTING STANDARD POINT OF VIEW CORRECT ENTRY IS FIRST
DEBIT ADVANCE SALARY A/C & CREDIT CAS/BANK A/C AFTER AT THE
TIME OF PAYMENT OF SALARY ENTRY WILL BE DEBIT SALARY A/C &
CREDIT ADVANCE SALARY A/C.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / m. yousaf
Journal entry:
Personal A/c Dr
Salary A/c Cr
Personal A/C will appear as Debtor in Balance Sheet
| Is This Answer Correct ? | 17 Yes | 23 No |
what are the security data points
if a company has to pay the salary in the month of april for the months of march,apil,and may to a person who joined in the company on 15march. what are the entries for the transaction ?
EXPAND______________PWD
What is the working formula for Return On Investment
what do you mean by accounting (or) why accounting ? ( generally we have to speak about our achivements and goals)
what is the accounting treatemnt for issuing material to a subcontractor on recovery basis?
wHAT ARE EVENTS
Expand---------RMP
Any one give some questions and answers . B.R.S, and tally9.0
expand EBITDA
what is inflation?
27 Answers Capital IQ, Pixnet Communications,
Difference between a Fund manager, Investment manager, Portfolio manager, Custodian manager?
1 Answers Mellon, Tech Mahindra,
Audit 
