BANK RECONCILATION

Dear M.MANIKANDAN

To enter bank trn. with single cheque\trf. letter in case of transfer through NEFT etc.

1. Provision for Salary.

        Salary a/c                   Dr

              to Employee A    Cr

              to Empolyee B    Cr

2. trf. employee ledger to salary payable.

                Employee A a/c            Dr

                Employee B A/c            Dr

                     to Salary Payable     Cr

3. Bank payment with single entry.

             Salary Payable /c      Dr

                        to Bank a/c      Cr

as a matter of practise, when ever a company has a system of making payment of salary through transfer (i.e. to salary accounts of various employees), a single entry is recorded. As meetu kashyap said, a letter to the bank with the list of employees is kept on record on the letter head of the company. As far as the method suggested by Kaushik goes, it can be used where the no. of employees is less and individual salary ledgers are maintained seperately for all employees. But in case of Kashyap's method, confidentiality of the salry of all employees may not be preserved. Thus single entry with adequate supporting document is prefered.

In tally, instead of keeping every employee as a ledger account, the cost centres can be used. Also, using payroll features in Tally helps a Company to maintain the accuracy in a better manner

Agree with what Mr. Lakshmi baskar said. u have an option to create cost centers in tally. 

Dear M.Manikandan i am agree with Lakshmi Baksr

I am Accountant and i am dealing in 130 employee in our co.

I have passed two entry for related salary

1- Any Perks related salry are Dr.

and Deduction are credit = Net pay Credit in Salary Payable A/c

2- Salary Payable A/c Dr.

    Bank A/c Cr.

You are used cheque in favor of (various bank ) Yourself salary A/c Co.name

and attach list of employee Net pay

Ok

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Dear Sir/Madam,

please confirm karnataka composite vat rates for current year..