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Outstanding salary entry ?
how to pas outstanding salary ?
Replies (13)
Are You asking in employer accounts...?
1. If employee account is maintained.
a) If short amount paid, outstanding will automatically reflect in his account
Salary Dr. 100
To Employee A/c 100
Employee A/c Dr. 80
To Cash/Bank 80
So, 20 outstanding will be shown as credit balance in his account.
b) If full amount has been paid and any arrear/outstanding is found later, then credit the employees account for that amount only
Salary Dr. O/S amount
To Employee A/c
2. If employee account is not maintained.
Salary A/c Dr. O/S amount
To Salary Payable
Salary dr.
cr. outstanding salary.
provision for salary at month end.
at the beginning of the next month
outstanding salary dr.
to bank
cr. outstanding salary.
provision for salary at month end.
at the beginning of the next month
outstanding salary dr.
to bank
Salary Dr.
To Salary Payable
To TDS Employees
To. EPF Employees
To. Profession Tax Employees
To Advance Employees
To. other deductions (if any)
To Salary Payable
To TDS Employees
To. EPF Employees
To. Profession Tax Employees
To Advance Employees
To. other deductions (if any)
@ vinod
the entry which I hv mentioned is applicable for a firm having one employee.
In case it a company having limited company.
you hv to provide for statutory liability of pf and professional tax.
advance employees is not applicable in case there is no advance....
the entry which I hv mentioned is applicable for a firm having one employee.
In case it a company having limited company.
you hv to provide for statutory liability of pf and professional tax.
advance employees is not applicable in case there is no advance....
Do not be confused. I replied above . That's standard entry.
This journal entry is common for all types of entities be it Partnership Firm, LLP Corporate Company etc.
This journal entry is common for all types of entities be it Partnership Firm, LLP Corporate Company etc.
Do not get confused ..That's
the standard entry..
the standard entry..
Query already well resolved . it's sufficient
Thnx to all.. query resolved
| Originally posted by : Vinod Bhatti | ||
 |
Thnx to all.. query resolved |  |
You are most welcome dear
@ vinod
it's a preliminary entry.
it's a preliminary entry.
Query , in fact, made tough going for ...some....
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