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what is entry for salary advance? salary entry mentioned by
Indusial name
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Answer Posted / dsrn murthy
The Accounting Entry for Salary Advance would be as
follows:-
Salary Advance Dr
To Cash/ Bank A/c
being Salary advance paid to Mr.ABCD
Salary A/c Dr
To Salary Advance A/c
To Cash/ bank (With the Amount remaing after adjusting
the advance already taken)
*NOTE: - It is adviseable not to create an account in the
name of the employ while paying advance. you can use the
Narration of the Journal entry to mention the name of the
employee to whom the advance was paid.
| Is This Answer Correct ? | 4 Yes | 1 No |
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