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Entry for Employee Salary (Plssss)

Dev K Sharma (Learning Thru Experience) (157 Points)

10 June 2011

Below the Salary Breakup of the Employee :-

*Salary Break up*	*Amount*
Basic	8020.00
House Rent Allowance	3208.00
Conveyance Allowance	800.00
Other Allowance	8022.00
*Gross Earnings*	*20,050.00*
*Deductions*	*Amount*
Provident Fund	962.00
Professional Tax	200.00
*Total Deductions*	*1162.00*
*Net Pay*	*18,888.00*

1. How to pass the Entry’s of the aforesaid in the Tally Account ??

2. Which Ledger to create (under which Group) ??

Thanks for the reply ……!!!

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8 Replies

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

YOU CAN PASS COMBINED ENTRY OF GROSS SALARY

SALARY AC. - - - - - -- - - - -- - DR.

TO BANK

1 Like

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

AND IF YOU HAVE MADE DEDUCTION

SALARY AC - - - - - - -- -DR.

TO EMPLOYEE

EMPLOYEE AC- - - - - - - - - - - -DR

TO PF AC

TOPROFESSIONAL TAXAC.

WHEN PAYMENT MADE

EMPLOYEE AC -- - - - - - -DR.

TO BANK

1 Like

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

THE SEPARATE DETAIL ABOUT BREAKUP WILL BE MADE IN SALARY REGISTER

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

FOR DEPOSITING PF AND PROFESSIONAL TAX PF AC,- - - - - - -- - -DR. P. TAX AC-- -- - - --DR. TO BANK

Dev K Sharma (Learning Thru Experience) (157 Points)
Replied 10 June 2011

Ok Sir,

I dnt need to create ledgers for Allowances?????

Only deduction account I have to create and Debit Employee A/c and credit Deductions A/c

at the time of payment...Debit Employee A/c ---------- Credit Bank A/c

Debit deduction's A/c & Credit Bank....

Thanks Sir,,, You are very very Helpful...

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

Originally posted by : Dev K Sharma
	Ok Sir, No need to create ledgers for Allowances????? Only deduction account have to create and Debit Employee A/c and credit Deductions A/c at the time of payment...Debit Employee A/c ---------- Credit Bank A/c Debit deduction's A/c & Credit Bank.... Thanks Sir,,, You are very very Helpful...

NO SIR I AM HERE TO HELP OTHERS

Balram Begari (Accountant) (122 Points)
Replied 10 June 2011

Dear All,

Go to Tally and utlise the feature of Payroll where everything can be possible.

Raj (Assistant) (56 Points)
Replied 14 June 2011

You can create each head as different ledgers and make compound entry - or Make a combined entry - or Just google Tally Payroll (You need spend more time to setup a Payroll system 1st time)