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anish ks (Querist)
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06 September 2016 anish ks Points: 5 SIR,My Name is anish iam an mcom graduate iam working as an accountant in a company in kerala iwant to know the accounting entry for salary payable after deducting the loss of pay and loss of pay under which head we group under cureent liablity of indirect income and how account overtime with gross salary and pass jornal entry for salary payable any one please help me.

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Amol S Joglekar

Amol S Joglekar (Expert)
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06 September 2016 you can debit salary account.
For overtime, you can open overtime account.
For loss of pay, you can open loss of pay account under the same group as that of salary