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Cash balance not accounted
If someone has not given the account of cash and we have deducted the balance from the salary, what will be his entry?
Replies (3)
Quick Summary
As per my opinion first record the advance given and then offset it when deducting but subject to 40(A)(3) provison.
For example you have given Cash of Rs1000/- to Mr A as advance for an expenses, he has not given the account of Cash, so you have deducted from salary .
Advance to A A/c Dr 1000
To Cash A/c Cr. 1000
( paid to Mr A)
Adjusted against salary.
Salary A/c Dr 15000
To Salary Payable A/c Cr 14000
To Advance to A A/c Cr. 1000
( Advance given adjusted against salary)
Advance to A A/c Dr 1000
To Cash A/c Cr. 1000
( paid to Mr A)
Adjusted against salary.
Salary A/c Dr 15000
To Salary Payable A/c Cr 14000
To Advance to A A/c Cr. 1000
( Advance given adjusted against salary)
The advance is not I. The querry
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