Accounts for advance

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Mansi Gohel (Querist)
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04 May 2018 Dear Sir,
I hv a query regarding accounting. In our company some employees get advance amount wide bank for their routine expenses & they are providing details of the same may be after 25/30 days. now the same employee gets salary amount in advance. now i have a question if i create a single Employee Advance a/c then how to bifurcate the same . also suggest if any other method is available. (Pl note that we don't want to make individual employee salary account ledger)

TIA
Mansi

Anmol Davesar

Anmol Davesar (Expert)
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04 May 2018 You can open imprest account for these entries and salary account for salary entries.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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05 May 2018 You can book Expenses under imprest cash maintain details in excel Employee wise once they give bill account the same,

Salary Advance can be maintained in Excel instead of Creating number of Employee ledger. As salary advance for each employee you can create salary advance one ledger in software or tally, you can keep track same in excel,
Same way you can maintain all deduction in salary sheet can be tracked for recovery of advances.

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