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Journal Entry for Advance to employee

This query is : Resolved 

12 November 2010

hi friends plz. let me know whether the following entry for advance to employees(shown as professional fees) and ajustment against salary payabale is correct or not

Advance(Mr. X)dr 5000
To Bank 4500
To TDS 500

Monthly fees-5000

Professional Fees dr 10000
To Advance (Mr. x) 5000
To TDS 500
To Bank 4500

CMA. CS. Sanjay Gupta (Expert)

12 November 2010

Yes your entry is correct.

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