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Advance cash

SUMIT BADYAL (709 Points)

03 March 2020

we give advance to employee for meeting up daily expenses.... entry in tally?

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6 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14185 Points)
Replied 03 March 2020

1) Advance to employee A/c Dr

To Cash

( Being Advance payment of Cash for Daily Expense)

Note - Advance to employee ledger under Loans & Advances Asset side Balance sheet

2) When employee submit expense with documentary evidence then pass J.E

Expense A/c Dr

To Advance to employee A/c Cr

( being Advance given for daily expense adjusted )

1 Like

SUMIT BADYAL (709 Points)
Replied 03 March 2020

Thank you sir

sabyasachi mukherjee (26132 Points)
Replied 05 March 2020

Sumit

in corporates

all the vouchers needs to be authenticated by departmental hod.

hence u are requested to adjust the expenses after such concurrence.

Kapadia Pravin (17249 Points)
Replied 06 March 2020

Sumit, it's usual to keep petty cash account.

------
What the chap of above post is advising is over wise.

They best know about money management. That's why they are business man. Not employee. Apply sense.

1 Like

sabyasachi mukherjee (26132 Points)
Replied 06 March 2020

@ sumit

it's as usual one can override the steps.
these are checks which are being practiced in every organisation.
Business depends on employees wisdom.

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