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Eployee advance come under prepaid exp for bank and cash in

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 April 2016 Dear Team,
can any one help me Employee advance come under whish Accounts Head? it is unders Prepaid exp for Cash and bank. it is balance sheet part I am right?

Harshal konde
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
02 April 2016 Yes, it is in balance sheet as advance (loan advances) because you have give advance for expenditure which will happened in future. when expenditure happened then settled that advances with that.
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