Mohammed Karjatwala (Professional Accountant) (53 Points)
12 August 2015I have a client whose accounts I am doing with payroll from the current financial year i.e 01/04/2015. As on 31st March 2015 there are some advances taken by employees which i need to put in opening balances in the salary advance deduction so that once the advances are decucted the balances become zero. How do I make the opening balances entries for the same in payroll?
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 13 August 2015
Salary Advance can be clasified under "Loans & Advances". If you want employee wise you can open each a/c & can be grouped under the above a/c
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