What would be the accounting entries normally passed if salary is not directly credited and debited to the respective employee's a/c- that is bulk salary due and payment entries for all employees?
14 September 2013
At the time of Credit of Salary:
Basic Salary A/c Dr. Allowance A/c Dr. Spl All Dr. To PF A/c To ESIC A/c To Professional Tax A/c To TDS A/c To Salary Payable A/c/Outstanding Salary A/c
At the time of Payment:
Salary Payable A/c/Outstanding Salary A/c Dr To Cash/ Bank