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what is entry for salary paid in advance ?
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Answer Posted / mahendran balakrishnan
Dear,
Salary Payable a/c has no use. Listen,
WHEN PAYING SALARY ADVANCE:
Salary Advance a/c Dr
To Employee's Salary a/c Cr
Employee's Salary a/c Dr
To Cash a/c Cr
WHEN PAYING BALANCE SALARY:
Employee's Salary a/c Dr
To Salary Advance a/c Cr
(Being Advance Salary amount recovered from Employee's Salary A/c)
Employee's Salary a/c Dr
To Cash a/c Cr
(Being Balance Salary paid by cash)
Best wishes,
-Mahi-
Accountant
FUMITECH, Kochi.
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