Entry for salary

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This query is : Resolved

CA Abhishek Singh (Querist)
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30 August 2010 plz. let me know whether this entry is correct or not.
(just example)

for salary due
Salary a/c----dr 100000
To X's A/c 45000
To Y's A/c 45000
To P.T. Payable A/c 2000
To ESIC Cont of Employee A/c 2000
To T.d.s. Payable A/c.6000

For Payment

Mr. X's A/c-------dr45000
Mr. Y's A.c -------dr45000
To Bank 90000

is their other entry which is more better than this.

also let me know how to pass entry for advance Payemnt to be adjusted against salary of next month.

Waiting urgently for ur reply.

my id abhipcc@rediffmail.com

Akhil Agrawal

Akhil Agrawal (Expert)
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31 August 2010 Yes Entry Is correct but will suggest some changes:

Debit component of salary like HRA BASIC, Conv All & all.
Make tds Payable as TDS payable on salary Account.
Also if the No. of Employees are more then Credit Salary Payable(total) instead of individual Accounts.

While Making Advance Payment Pass

X Dr
Bank Cr.

& when adjusting in nxt mnth salary credit this Advance Amount.

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