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How to enter Salary received , Tally

Accounting Entries 1792 views 4 replies

Mohammed Shahid Rahman

Partner

143 Points Posted on 12 June 2023

Hello all,

I receive salary under following heads and I have deductions also which is also given below.

My question is how do I enter this in Tally? Under what heads should I create the entries. Please help.

Income Heads
==================
Basic
HRA
Special Allowance
Overtime
Uniform Allowance
Transport Allowance
Efficiency Bonus
Monthly Bonus
Night Shift Allowance

Deduction Heads
===============
Provident Fund
ESI
Professional Tax
LWF

Replies (4)

Quick Summary

Salary received in Tally can be recorded by creating separate ledgers for salary components like Basic, HRA, Bonus, and Allowances under Indirect Income or Salary Account. Deductions like PF, ESI, PT, and LWF can be created separately. Simple entry: Bank Dr, Deductions Dr, To Salary Income.

CA Raj Doshi

Practising CA

8954 Points Posted on 13 June 2023

All income heads can be merged into Salary from ABC under capital account. All deduction heads can be created separately under capital account

sabyasachi mukherjee

Profession Business

28207 Points Posted on 13 June 2023

All income heads are seperately segregated.

Mohammed Shahid Rahman

Partner

143 Points Posted on 13 June 2023

@ CA Raj Doshi - Both Income and deduction should come under Capital A/c?

How do I create and entry? What to debit and what to credit ?

Should I create following ledgers in Direct Income:
Basic, HRA, Special Allowance, Overtime, Uniform Allowance, Transport Allowance, Efficiency Bonus, Monthly Bonus, Night Shift Allowance

AND

Following in Indirect Expenses:
Provident Fund, ESI, Professional Tax, LWF, TDS Deducted

I am new to Tally. Plz help

Read more at: https://www.caclubindia.com/forum/how-to-enter-salary-received-tally-600071.asp#reply

Read more at: https://www.caclubindia.com/forum/how-to-enter-salary-received-tally-600071.asp#reply