How to record this entry in company book.

This query is : Resolved

Kamlesh (Querist)
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11 September 2009 Hello Sir,
Employee Name: Kevin
Company Name: Leadkarma
Example:
Kevin pay $400 to company for his health insurance payment. Which entry made in companies books.

Company received $400 from employee & $100 contribution added by company & pay $500 to Insurance Co. Which Entry I made in Companies book account.3

Plese provide your feedback for above on my mail id: rathodkamlesh2@ymail.com

Thanks
Kamlesh Rathod

Prashant

Prashant (Expert)
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16 September 2009 Dear Kamlesh,

When u receive amount
Dr. Cash/Bank A/c
Cr. Contribution of Employee for H. Insurance (Under Head of Current Liablity)

When U Add and pay amount
Dr. Contribution of Employee for H. Insurance 400
Dr. Employee H. Insurance (Expenses) 100
Cr. Cash/Bank A/c