Difference

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Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2013 sir what exactly is the difference between unpaid and payable?

Rupesh Jain

Rupesh Jain (Expert)

06 August 2013 normally unpaid is liability for not due in current future.

payable : it is liability is due .

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2013 sir could you please elaborate it with an example..

Rupesh Jain

Rupesh Jain (Expert)

06 August 2013 it us use for salary

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

Querist : Anonymous (Querist)

06 August 2013 can you please tell me accounting entries made?
for example salary payable to x?if he has left the job....

and if he has not left the job....

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2013 with some search i got the entries....so how to analyse the salary payable and salary unpaid in balance sheet???pls answer this query sir?

Rupesh Jain

Rupesh Jain (Expert)

06 August 2013 both a/c are shown under current
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

Querist : Anonymous (Querist)

07 August 2013 so salary payable is related to the current year payables and salary unpaid is related to the previous all years payables....is this correct sir

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