30 August 2010
plz. let me know whether this entry is correct or not. (just example)
for salary due Salary a/c----dr 100000 To X's A/c 45000 To Y's A/c 45000 To P.T. Payable A/c 2000 To ESIC Cont of Employee A/c 2000 To T.d.s. Payable A/c.6000
For Payment
Mr. X's A/c-------dr45000 Mr. Y's A.c -------dr45000 To Bank 90000
is their other entry which is more better than this.
also let me know how to pass entry for advance Payemnt to be adjusted against salary of next month.
31 August 2010
Yes Entry Is correct but will suggest some changes:
Debit component of salary like HRA BASIC, Conv All & all. Make tds Payable as TDS payable on salary Account. Also if the No. of Employees are more then Credit Salary Payable(total) instead of individual Accounts.
While Making Advance Payment Pass
X Dr Bank Cr.
& when adjusting in nxt mnth salary credit this Advance Amount.
CAclubindia
