Difference
Querist : Anonymous
payable : it is liability is due .
Querist : Anonymous
salary for m/o july is due on 31.7.2013 but pay on or before 7.8.2013 is payable
but due to some employee leave the job and co not paythe amount at present due to some laiilty or recovery is due form employee. then we make payment the employee on or after the salalry due date then we tfr the amount in unpaid a/c
when we make his full & final then amount debited to salary unpaid a/c
Querist : Anonymous
for example salary payable to x?if he has left the job....
and if he has not left the job....
Querist : Anonymous
liabilities
SALLARY PAYABLE A/C DR
TO SLALRY UNPAID A/C CR
when you make full payment then
salary unpaid a/c DR
leave encashment payable a/c DR
bonus payable a/c DR
to Bank a/c CR
Querist : Anonymous
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