can anybody tell salary entries with example (full descripttion)
3 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 04 May 2015
At the time of making provision for salary, entry would be as follows:
Salary A/c Dr xxxx
To- TDS xxxx
To- PF xxx
To- PT xx
To- Salary Payable xxxxx
At the time of payment of taxes, PF,PT following entry
TDS DR xxx
PF DR xxxx
PT Dr xxxx
To- Bank xxxx
and for salary payment following entry
Salary Payable xxxx
To-Bank xxxx
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