Accounting unclaimed salaries

Dear sir,

We have unclaimed salaries in our hand (in cash form sealed in envelops) (In partnership firm A/c of GOA) , from 2009-10, 2010-11 & 2011-12. Most of the  workers are from Out of GOA, after work they go to their native place without taking final salary. Sometimes they claim their salaries after six months even after 1 year , that's why we have not deposited their salaries. Now  We want to depsoit the same in Bank, b'coz most of the employee has not return back. What treatment should be given, whether we have to show as receipt voucher by showing cash in hand & unclaimed salaries as liability.

Whether it will affect our P&L A/c. Please reply

It should not effect P&L a/c .

You should deposit cash into cash a/c  by preparing a receipt and passing Receipt voucher crediting Unclaimed Salaries  a/c.

kkm

without paying salary how you have passed payment entry?

If no payment entry had been passed then simply do as shown below:

original entry as made by you:

Salary A/C Dr.

To Salary Payable A/C

Now pass entry as:

Salary Payable A/C Dr.

To General Reserve A/C