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How to show advance salary in tally ?

Accounting Entries 6906 views 5 replies

My company has given Advance Salary to an employee Rs. 20,000/-. His actual salary is Rs 13,000/- per month. My company is deducting Rs. 2,000/- per month from his salary against the Advance  salary. Kindly tell me how to show these transactions in tally ?

 

Replies (5)

First Month

Bank Dr. 20,000

   To Salary 13,000

   To Advance Salary 7,000

Second Month onwards:

Bank Dr. 11000

Advance Salary Dr. 2,000

   To Salary 13,000

 

1. On receipt of advance salary

Bank A/c     Dr        20,000

       To Salary advance             20,000

advance salary is to be recover by 2000 per month by employer i.e. it will take 10 months from the next month on wards

2. next month onwards entry on recipt of salary (employee will get salary after adjustment of advance money Rs. 2000)

Bank a/c                  Dr.    11,000

Salary Advance      Dr.       2,000

         To Salary income a/c 

In my opinion it can be
Advance salary a/c.. Dr 20000
To bank 20000

Salary a/c Dr 13000
To bank 11000
To advance salary 2000
i perfer to open ledger Employee Name (SA) under Staff Advance Group under Loans And Advances
Originally posted by : yash varshney
In my opinion it can beAdvance salary a/c.. Dr 20000 To bank 20000Salary a/c Dr 13000 To bank 11000To advance salary 2000

I agree with these entries.


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