Salary entry
This query is : Resolved
16 July 2013
Dear Experts,
which amount i have to debit in staff salary
A/C Gross or Net.
for example:- I have paid Salary of Mr A Rs.25000/- TDS Rs.1500/- PF - 1000/- Net salary paid Rs. 22,500/- what is entry for salary a/c and other Accounts
thanks
which amount i have to debit in staff salary
A/C Gross or Net.
for example:- I have paid Salary of Mr A Rs.25000/- TDS Rs.1500/- PF - 1000/- Net salary paid Rs. 22,500/- what is entry for salary a/c and other Accounts
thanks
16 July 2013
Entry to be passed as follows.:
1) At the particular month end...
Salary Exp Ac. Dr. 25000/-
To Salary Payable Ac. 25000/-
2) After paid the salary
A) Salary Payable Ac. Dr. 22500/-
TO Bank / Cash Ac. 22500/-
B) Salary Payable Ac. Dr. 2500/-
To PF Payable Ac. 1000/-
TO TDS Payable Ac.1500/-
3) After deposited the PF And TDS to Treasury.
PF Payable Ac. Dr. 1000/-
TDS Payable Ac. Dr. 1500/-
TO Bank Ac. 2500/-
1) At the particular month end...
Salary Exp Ac. Dr. 25000/-
To Salary Payable Ac. 25000/-
2) After paid the salary
A) Salary Payable Ac. Dr. 22500/-
TO Bank / Cash Ac. 22500/-
B) Salary Payable Ac. Dr. 2500/-
To PF Payable Ac. 1000/-
TO TDS Payable Ac.1500/-
3) After deposited the PF And TDS to Treasury.
PF Payable Ac. Dr. 1000/-
TDS Payable Ac. Dr. 1500/-
TO Bank Ac. 2500/-
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