Journal Entry in Tally 9 ERP

How is excess provision made in the earlier years reversed in tally?

F7 Journal Voucher (Tally)

Salaries & Wages A/C/ Dr  (Under Indirect Expenses)

To Deductions A/C    (If there is any Loan & Advance)

To Salaries & Wages Payable A/C ( Under Current Liability)

(Being Salary Processed for the month of ........)

F5 Payment Voucher (Tally)

Salaries & Wages Payable A/C Dr

To Cash/Bank A/C

(Being Salary paid for the month of .........)

How do we process Payroll Accounts?

Companies usually hire payroll services from third parties by way of outsourcing which makes the process of accounting for payroll an easy and effortless task. The payroll service provider manages multiple tasks such as tax obligations, employee time calculation, preparing checks, and salary report management. It eventually reduces the operating cost of the business.

  Salay's A/c          Dr.                    1000.00            

                          To ABC Salary's  Payable A/c                  1000.00              

                          ( Being Salary due for the month............)

(2)          ABC Salary 'S Payable A/c  

        Dr.                     1000.00                                         

To Bank  or Cash   A/c                             1000.00               

       ( Being Salary paid with ch. no// cash)