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Advance salary considered as bad debt

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1359 Points Posted on 16 March 2023
if a employee becomes untraceable after receiving advance salary for 2 years does the amount paid is considered as bad debt?
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On 16 March 2023 at 20:36 Report
Replies (7)
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Profession Business
28207 Points Posted on 16 March 2023
Wrong to be adjusted with expenses.
1 Reply
On 16 March 2023 at 20:42
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1359 Points Posted on 16 March 2023
Then what is the treatment sir
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On 16 March 2023 at 20:48
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Profession Business
28207 Points Posted on 17 March 2023
Advance staff dr
Cash cr.

expenses for salary dr.
advance staff cr.
1 Reply
On 17 March 2023 at 09:41
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CFO- at NHTF
58280 Points Posted on 17 March 2023
How much is the advance given and how is outstanding yet ?

Ageing ?
3 Reply
On 17 March 2023 at 14:43
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1359 Points Posted on 18 March 2023
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 ?
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On 18 March 2023 at 00:21
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CA
1248 Points Posted on 20 March 2023

Yes, it is a bad debt.

1 Reply
On 20 March 2023 at 18:58
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2 Points Posted on 27 March 2023

Advance Salary to Director accout will be under Loans & Advances ( Asset ) Side Balance sheet

 

 

    

 

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On 27 March 2023 at 14:36


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