Accrual
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2013
what is accural?how accrual entries are passed for salary a/c?
CA Priyank Singhi
(Expert)
19 January 2013
Accrual is something that has arisen but you haven't paid for the same. For ex on the 30th of every month your salary is accrued but you might not be paid your salary on the 30th. The entry would be
Salary a/c Dr.
To Outstanding Liability
when it is paid the entry would be
Outstanding Liability A/c Dr.
To Cash/Bank
Salary a/c Dr.
To Outstanding Liability
when it is paid the entry would be
Outstanding Liability A/c Dr.
To Cash/Bank
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