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Advance to employees

Ramesh Patel (Article assistant) (38 Points)

06 February 2016

Can a Housing Finance company give advance to its for coming employees? if So how to treat the same??

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3 Replies

SHINY (CA Final Student) (699 Points)
Replied 06 February 2016

Advance to employees ..Dr To Bank (Being Advance granted to employees) In Balance Sheet, it will come under the main head 'Current Assets' & Bank will be reduced under Cash&Cash Equivalents

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Ajit Hegde (CA - Final) (1367 Points)
Replied 08 February 2016

Advance given to people who are not employees (as you have mentioned they are not joined) shall be treated as unsecured loan under loans and advances (asset)