Urgent help

This query is : Open

Sam (Querist)
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30 July 2011 Hi Sir,
I need ur urgent help for tally entry case of advance.
case is as follow
person has taken advance of Rs 7900 in july. now its time to salary so i hv to pay salary for july month.his salary is 7000.so what entry i shld pass in tally.bcoz he has 7900 Rs advance.

waiting for your kind revert

CA Aditya Goel

CA Aditya Goel (Expert)
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31 July 2011 In the books of company.

on time of paying advance salary.

Advance Salary Dr. ( may use employee name in cost centre) ---Current Asset

Bank a/c Cr.

On time of due date of july month

1. Salary Exp Dr. (Employe name as cost centre) -----Indirect Exp
To salary payable Cr. ---Current Liab

2. Salary payable Dr.
Advance Salary Cr. (Employe name as cost centre)

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 July 2011 While taking advance

Salary advance A/c Dr 7900
Bank/Cash Cr 7900

While adjusting

Salary a/c Dr 7000
Salary advance a/c Cr 7000

After adjusting July-11 salary also Rs.900 balance will be there so

while paying Aug-11 month salary

Salary Dr: 7000
Salary advance Cr: 900
Salary payable Cr: 6100

Payment
Salary Payable Dr:6100
Bank/Cash Cr: 6100

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Sam

Sam (Querist)
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08 August 2011 Hello Ramesh Sir
thnks but while making following entry it again asking for anything debit
as below

Salary a/c Dr 7000
Salary advance a/c Cr 7000
Dr ??????

So pls guide me wat amt to b enter .
thanks

Sam

Sam (Querist)
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