Advance Salary Journal Entry
Akshay Sharma (Student) (24 Points)
23 September 2022
What will the journal entry for the advance salary paid to the company director?
Akshay Sharma (Student) (24 Points)
23 September 2022
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 23 September 2022
Yasaswi Gomes new
(Finance )
(4474 Points)
Replied 24 September 2022
Advance is a prepaid expense
Dr. Prepaid salary
Cr. bank
By the month end
Dr. Salary expense
Cr. Prepaid salary
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 24 September 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 25 September 2022
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 25 September 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 25 September 2022
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 25 September 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 25 September 2022
1) Advance Salary payment entry
2) Salary Booking entry
3) Actual salary payment entry with adjustment .
Dear Eiswar company paid two times , one is advance and another is actual Salary , thats why we have to do two payment entries
Advance Salary to Director A/c will be under Loans & Advances ( Asset ) Side Balance sheet .
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 25 September 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 25 September 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 01 October 2022
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