Ashique Raza (28 Points)
25 October 2020
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 25 October 2020
prasad Nilugal
(3914 Points)
Replied 25 October 2020
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 25 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 25 October 2020
@ Jitendra Kumar what you have pass entry of normal monthly Salary
But first he has taken advance salary then balance salary
so 40% entry will be
Advance Salary A/c Dr
To bank A/c Cr
( Advance Salary paid )
Then balance salary payment
Salary payable to Mr X A/c Dr
To Bank A/c Cr
To Advance Salary A/c Cr
To ESIC A/c Cr
To EPF A/c Cr
( Balance Salary paid with adjustment )
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 25 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 25 October 2020
Dear Jitendra Kumar , when we pay Advance salary we have to pass entry this way only , Advance will be adjusted at time of atual payment . Also full Salary will be debited to Profit & Loss A/c .
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 25 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 25 October 2020
Yes , you are correct After advance Salary entry , I miss payable entry .
In between entry will be
Salary A/c Dr
To Salary payable to Mr X A/c Cr
( Salary payable )
sabyasachi mukherjee
(27579 Points)
Replied 26 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 27 October 2020
Dear @ sabyasachi
provision entry is exactly above your query , which I miss in hurry and made above your query .
Salary A/c Dr
To Salary Payable
( Salary payable )
Ashique Raza
(28 Points)
Replied 27 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 27 October 2020
Dear Raza , I already pass all entries in the same earlier query . please refer your earlier query .
CAclubindia
