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Salary journal entries

Accounting Entries 216657 views 41 replies
Quick Summary
Salary should be recorded at gross amount with deductions like PF, ESI, TDS, and profession tax as liabilities. Entry: debit salary expenses, credit deductions and salary payable. On payment, debit salary payable and credit bank or cash.

for advance salary

 

Originally posted by : vasant

for advance salary
for credit and for payment

 

 


Dear Jitender,

Can you, please provide the logical explantion of :-

Company's Contribution, which you considered to be debited???

I agree with Mr.Rajesh

if one company collected her revenue in january 2014 what recognised will show in April to dec 7 with entries. kindly help me 

Mr.Jitender advise is correct. But small modification . To salary payable is incorrect. To cash/bank account is correct. Remaining all accounts are o.k.

Salary Is a Nominal Account.

The Rule Says, Debit All Expences & Losess, Credit All Incomes & Gains, 

So, you will have to debit All the expences of the company of which the employee is receiving.

& credit all incomes of the company, or the employee is paying to the company so the entry as follows.

 

Dear All,

If my salary is inclusive of monthly bonus so what will be the journal entry for the same & final effect in the balance sheet ??

Also this bonus wil reflect under the head salary only in salary certificate or ant other separate head wil be required for the same ?? 

Can anyone tell what journal entries should be made for salary income?

Hello

I want know under which head the 'Gross Salary' to be taken in tally . Is it under indirect expenses of P & L a/c ?

can anyone help to solve this problem pass the journal entry of salary due with following total salary rs.40000 pf contribution employee rs,1000 pf contribution employer rs. 1300 esi contribution employee rs.470 adv to employee rs.500 tds on salary rs.250
can anyone help to solve this problem pass the journal entry of salary due with following total salary rs.40000 pf contribution employee rs,1000 pf contribution employer rs. 1300 esi contribution employee rs.470 adv to employee rs.500 tds on salary rs.250

I too agree with Mr.Rajesh advise

Sir

We have to books arrears of salary in current years Books but provision of TDS will be next year at the time of payment.

please show me TDS entries.

rgds

Ganesh Negi

 

how to enter payment of salary by bank to employee?

ex:- mr Raj. which list of group does he appear?


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