Passing salary journal entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2016 Respected Sirs/Madam,

Greetings for the day.

I am working in an Software Organization as an Accountant in Chennai, need guidance + immediate clarification on booking of our "Employees Monthly Salary Journal Entries in our Tally".

Previously that is Up to F.Y. 2015-16 'i' was booking like:-

1) Dr. Salary A/c:- Domain = 'Resource Pool' Cr. Statutory Deductions + finally Cr. Salary-Employee Name. This is for all "Technical Staffs". If they are working under any Particular Project the "Domain" will booked with "Concern Project Name."

2) Dr. I Salary A/c:- Primary Cost Category = 'HR' Cr. Statutory Deductions + Finally Cr. Salary-Employee Name & for Accounts:- same Entry but "Primary Cost Category" = 'Finance'. This is for "Support, Non-Technical Staffs".

Now from this F.Y. 2016-17 onwards 'i' Planned to change like below:-

3) Dr. Salary A/c:- Indirect Exps. = 'Admin Exp.' Cr. Statutory Deductions + finally Cr. Salary-Employee Name. This is for all "Technical Staffs".

4) And for "Non-Technical + Support staffs" will be followed the same as mentioned in Pt. No.2

Hence Can anyone please advice, inform whether "My way of Entry booking is Correct (or) not" ? if not "What is the Correct way of booking + Entry to be passed with Exact Cost Category & Cost Centre (or) What actually to be followed" please let me know.

Kindly treat it as Urgent, awaiting for your Response.

Thanks & Regards
Sugadeesh.S

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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24 December 2016 Yes gross salary to be debit cr should be statutory and other deduction cr salary payble for particular project net instead of crediting salary to each individual it is better to credit salary payable. This can be passed for each project to know cost.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2016 Dear Sir,

Greetings for the day.

First of all i really thank you for the valuable response, i understand but actually what i asked is from this f.y. 2016-17 i wanted to book:-

1) Salary a/c Dr 'for that' the Cost Category is:-

Indirect Exps. & the Cost Centre will be:- Admin Exps.

Statutory Deductions a/c Cr. finally
Salary-Employee Name a/c Cr.

2) My Question is working in an "Software industry" Can i pass the entry like:- 'Dr.' Salary undr "Indirect Exps." fall in next to that will be Admin Exps. ?? Does this Entry varies different different projects ??

3) Is that a Correct Entry ?? Or What exactly i should book ?? I want to know the "Exact Cost Category & Cost Centre" for Salary J.V passing ??

4) For "Non-Technical & Support Staffs" will be booked the same Entry as Mentioned in my earlier Query related to
Pt. No.2.

Further any clarificaitons please refer my earlier discussion statement or call me 9840962347.

Please treat it as "Urgent".

Thanks & Regards
Sugadeesh.S

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2016 Hi All,

Good day.

Can anyone please reply to my previous sent Query, kindly treat it as Urgent and if you don't understand please go thru my 'trailing correspondence' in that I have given my Contact no. as Well as below my Signature also hence request to call me.

Awaiting for your Valuable response at the earliest.

Regards
S.Sugadeesh Kumar
9840962347