Interested to Buy Any Domain ? << Click Here >> for more details...
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
- 8352 Views
- Banking, I also Faced
- E-Mail Answers
Answer Posted / bharathi
The Following Journals to be passed at the time of advance
paid to a and b
Staff Advance A - Rules (Debit the Receiver) Rs.3000
To Cash/Bank Rules (Credit what goes out) Rs. 3000
Staff Advance B - Rules (Debit the Receiver) Rs.5000
To Cash/ Bank Rules (Credit what goes out Rs.5000
The Following Journal to passed at the time of Receiving or
getting back advance from b
Cash/Bank A/c Rules (Debit What Comes in) Rs.5000
To Staff Advance B Rules (Credit the Giver) Rs.5000
The Following Journal to be passed at the time of making
payment of Salary to A & B
Salary A/c Dr. 5000 - Rules (Debit All Expenses&Losses)
To Staff Advance A 3000 Rules (Credit the Giver)
To Cash/ Bank A/C 2000 Rules (Credit What Goes Out)
(For A'S Salary Account) Explanation: Credited Staff
Advance A account due to we have not received or get back
the advance from Mr. A Hence, we are deducting Rs.3000 from
his salary and crediting the same to his advance account
and balance of Rs.2000 only paid towards his salary account.
Salary A/c Dr. 10,000 Rules (Debit All Expenses & Losses)
To Cash/ Bank A/c 10,000 Rules(Credit What Goes out)
(For B's Salary Account)
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
what is the basic difference between pooling of interest method and purchase method in amalgamation
What is control in accounting?
in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
sir, i want t know, i got a cheque frm sindhu (that amount i gave her as rent advance, she is returning nw) bt the cheque has cancled and bank take cheque return charges so plz give this journal entries.
Tell me whether the account “cash” will be credited or debited, when a company pays a bill?
can any accountant forward format of daily or monthly mis format for accounts and finance dept!!
Definition of push down accounting
How to pass the entry in tally for demolished of building?
Why is accuracy important in accounting?
Tell me what is accrual accounting?
What is the use of form D in sale tax
What are mis reports and do you prepare it?
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
Why does the accounting equation have to balance?
