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Accrual

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 January 2013 what is accural?how accrual entries are passed for salary a/c?
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CA Priyank Singhi

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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
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