How to pass salary advance entries in tally??
18 Replies
Vineet Jaiswal
(CA)
(141 Points)
Replied 10 December 2012
Prepaid Salary A/c .... Dr.
To Cash/ Bank A/c
(Create a new ledger in the name of ''Prepaid Salary" which will become nil subsequently in the next FYs and will be charged off to Salary A/c)
CA Anand V Kabra
(Author Teacher Mentor)
(584 Points)
Replied 10 December 2012
I) at the time of payment
Advances to employees or Advance salary A/c Dr
(under Loans & advances)
To Cash or Bank
II) When salary will become due
Salary A/c Dr
To Advances to employees or Advance salary A/c
Seema
(Jr. Accountant)
(91 Points)
Replied 11 December 2012
I m already passed entry as follow-
1)At the time of Advance Given
Employee ( Name) A/c-Loan & advancesDr
To Cash/Bank A/c
2) At the time of salary paid-
Salary A/c ...Dr
To Cash / Bank A/c
To Employee ( Name) A/c-Loan & advances
IT IS RIGHT ?
CA Suryakant Dubey
(CA )
(931 Points)
Replied 11 December 2012
At the time of remitting advance
Advance to employee Dr.
TO cASH/ bANk a/c
At the time of deducting
Salary a/c Dr
To advance to employee
Vicky
(Finance Professional)
(57 Points)
Replied 11 December 2012
| Originally posted by : Seema | ||
 |
I m already passed entry as follow- 1)At the time of Advance Given Employee ( Name) A/c-Loan & advancesDr To Cash/Bank A/c 2) At the time of salary paid- Salary A/c ...Dr To Cash / Bank A/c To Employee ( Name) A/c-Loan & advances IT IS RIGHT ? |
Salary A/c Dr Employee Advance Cr |
Seema, In your second entry, you can not credit the Bank Account again. First entry is correct. Second entry would be:
jyoti rani
(secnderabad)
(1852 Points)
Replied 11 December 2012
Ya seema vicky said right........................
Seema
(Jr. Accountant)
(91 Points)
Replied 11 December 2012
Suppose, an employee' s salary of Rs.10000 & he want to Rs.3000 in advance
1)At the time of Advance Given-
Employee ( Name) A/c-Loan & advancesDr Rs.3000
To Cash/Bank A/c Rs.3000
2) At the time of salary paid-
Salary A/c ...Dr Rs.10000
To Cash / Bank A/c Rs.7000
To Employee ( Name) A/c-Loan & advances RS.3000
why can not cerdit the Bank account in second entry?
Vicky
(Finance Professional)
(57 Points)
Replied 11 December 2012
Hello Seema, Yes, sure you can. In your earlier post, I had assumed the full salary being given as advance. If it is partly paid in advance, ofcourse you have to pass entry for Bank Account as well.
Vijay cbm
(Manager(accounts))
(21 Points)
Replied 28 December 2013
hi,
Welcome to the world of accounting . Accounting is an ocean .At present I am working in the department of finance as accounting manager. I deal with lot of issues relating to salaries because my principal job is to see that every employee is paid salary correctly. As Mr Vicky pointed out the second entry has a cash or bank account credited. From my experience once advance salary is paid , this they will adjust the next time is paid . it is some what like this:
Gross : 10000
(-) deductions :
Provident fund (100)
Fund (20)
Advance salary (2500)
Net salary ;7380
So the second entry is:
Salary a/c dr 7380
To cash 4880
To employee advance 2500
This is bit confusing and complex in nature.
prakash rao
(JUNIOR ACCOUNTANT)
(21 Points)
Replied 04 November 2014
suppose an employee salary 12000 and he want 3000 in cash i pass entry in tally
advance given
loans and advance 3000
to cash a/c
after salary entry i pass
salary payable 9000
salary advance 3000
To cash a/c/bank a/c
is this entry correct pls inform me
ANWAR
(ACCOUNTANT)
(23 Points)
Replied 07 January 2016
suppose, MANU`s salary/month Rs 10000
advance paid Rs 3000
1) advance payment
advance salary (loans & advance) Dr 3000
cash / bank 3000
2) salary due
salary a/c (i . exp.) Dr 10000
manu`s salary 10000
3) salary payment
manu`s salary a/c Dr 10000
cash/ bank 7000
advance salary (l & adv) 3000
ANWAR
(ACCOUNTANT)
(23 Points)
Replied 07 January 2016
SUPPOSE,
MANU`s Salary Rs 10000
advance paid to him Rs 3000
je
1) when advance given
advance salary (loans & advance ) a/cDr 3000
cash/ bank 3000
2) salary due
salary a/c (ind. exp.) Dr 10000
Manu`s salary a/c 10000
3) salary payment
Mnau`s salary a/c Dr 10000
cash / bank 7000
advance salary (loans & advance) 3000
whether it is true or false pls reply 2 me
Ashish Dey
(1 Points)
Replied 22 June 2016
If your number of employee more than 700 how to pasa your 2nd entry
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