Excess salary Paid
This query is : Resolved
14 December 2016
one of our employees whose salary is Rs.13000 have been paid Rs. 15000 for 6 months vide cheque every month to show his salary more than the actual.he returned excess of Rs.2000/- every month to our company. and we utilized this amount for petty expenses. what should be the right journal entries for this?
kindly help.
14 December 2016
Better not to add that cash in ur petty cash. U must keep separate record of it, otherwise u must have to show the source from where the cash is generated. U may use that cash in un-official way, like dipwali expenses for clients, or staff welfare etc.
The journal entry will b normal as of salary payment. And as i said after that no need to involve that cash in books.
The journal entry will b normal as of salary payment. And as i said after that no need to involve that cash in books.
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15 December 2016
U r welcome. U can hit the like button if u like my reply
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