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Advance entry
sir, required examples of advance and settlement entry
Replies (1)
Example Advance Salary paid and settlement.
Advance salary paid on 25 -5-2023
Advance Salary A/c Dr
To Bank A/c Cr
( advance salary paid)
On 31 St May 23 entry
Salary. A/c Dr
To Salary payable A/c Cr
( salary payable entry)
Actual salary paid on 4-6-2023
Salary payable A/c Dr
To Advance salary A/c Cr
To Bank. A/c Cr
( after settlement or advance adjustment, balance salary paid)
Advance salary paid on 25 -5-2023
Advance Salary A/c Dr
To Bank A/c Cr
( advance salary paid)
On 31 St May 23 entry
Salary. A/c Dr
To Salary payable A/c Cr
( salary payable entry)
Actual salary paid on 4-6-2023
Salary payable A/c Dr
To Advance salary A/c Cr
To Bank. A/c Cr
( after settlement or advance adjustment, balance salary paid)
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