Accounts entry of salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2012
in a company Gross salary of Mr. A is Rs. 8000/- and his PF contribution is Rs. 960, and employee contribution is 960/- what would be the correct / perfect account entry in Tally, should I open the Name of employee in Ledger A/c.
CA. Ramiz M. Rather
(Expert)
01 May 2012
Salary A/c Dr 8,000
PF Contribution (Exp) Dr 960
To,PF Payable A/C 1,920
To,Employees A/C 7,040
PF Contribution (Exp) Dr 960
To,PF Payable A/C 1,920
To,Employees A/C 7,040
CA Kishore Tallam
(Expert)
01 May 2012
Generally it is not required to open account in the name of each and every employee.
Instead of Employee A/c in the entry, Salaries payable can be substituted.
Instead of Employee A/c in the entry, Salaries payable can be substituted.
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