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Advance salary considered as bad debt
if a employee becomes untraceable after receiving advance salary for 2 years does the amount paid is considered as bad debt?
Replies (7)
Quick Summary
Wrong to be adjusted with expenses.
Then what is the treatment sir
Advance staff dr
Cash cr.
expenses for salary dr.
advance staff cr.
Cash cr.
expenses for salary dr.
advance staff cr.
How much is the advance given and how is outstanding yet ?
Ageing ?
Ageing ?
If a company pay 20 lac rs as advance salary to a employee and if he become untraceable then does it is considered as bad debt ?
Yes, it is a bad debt.
Advance Salary to Director accout will be under Loans & Advances ( Asset ) Side Balance sheet
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