Dear Friends,
I need your help regarding how to pass the journal voucher for salary, pf , esi , edli, & respected to bank Entries and also please help me where which are liabilities and assets kindly provide.
regarding,
M.Raghavan
6 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 25 January 2011
EDLI has already included in employer provident fund that is 0.50 % no need to pass entry of it.
Salary Dr.. ( Gross salary indirect exp. )
Employee P.F. Cr. ( Current liab. 12 % of basic)
E.S.I.C. Cr. ( Current liab 1.75%)
Bank A/c Cr.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 25 January 2011
agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank
Salary Dr is expense
All credits namely payables are laibilities
AVIJIT
(CA FINALIST)
(370 Points)
Replied 18 February 2011
| Originally posted by : sivaram | ||
 |
agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank Salary Dr is expense All credits namely payables are laibilities |
 |
agree completely.
Rohtash
(CA - Final / CS / B.Com)
(1140 Points)
Replied 26 February 2011
agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank
Salary Dr is expense
All credits namely payables are laibilities...
rakesh
(accountant)
(36 Points)
Replied 02 March 2011
agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank
Salary Dr is expense
All credits namely payables are laibilities...
Ramkrishna Mokashi
(Chartered Accountant)
(734 Points)
Replied 02 March 2011
Hi,
Check up my post here..
/forum/salary-sheet-master-format-100273.asp
It has all the entries for ESI/PF/Prof. Tax, etc.
Hope it helps.
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