Salary accounting entries

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Ashwin Prakash Anumula (Querist)
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02 March 2013 Sir,
As we are not doing PAYROLL in SAP and we are taking only Entry Points in SAP. So please tell me whether this accounting entries are correct.

1. For Salary Payment
a) Salary to Staff A/c Dr.
To Salary Payable A/c
b) Salary Payable A/c Dr.
To Bank A/c.

2. For EPF
a) Contribution to EPF A/c Dr
To EPF Payable A/c
b) EPF Payable A/c Dr.
To Bank A/c
Are the above entries correct? What are other aspects are to be considered? Please Guide.

@VaibhavJ

@VaibhavJ (Expert)
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02 March 2013 Hi Ashwin,

1. I assume Salary to Staff A/c is Expense A/c then it is correct.

2. For EPF, you have to also consider employees contribution.

Other Aspects will accrual of expenses for Stat Bonus, Gratuity also.

Thanks!!

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