Pleas reply ...

Dear friends..

can you please any one suggest me  a journal entry for salary.... for eg.

Basic 10000

HRA     5050

DA       2500

Bonus 1000

Employer -PF 750

Deductions:

PF      750

PT      200

IT        130

Please revert back its ugent

Replies (1)

1.

Salaries & Wages             Dr. 10000    P/L item
HRA                                     Dr. 5050    P/L item
Dearness Allowance        Dr. 2500    P/L item
Bonus                                 Dr. 1000    P/L item
Company cont. to PF        Dr. 750        P/L item

    To Employee Cont to PF Recoveries a/c      750    Liability item
    To Company cont to PF Payable a/c             750    Liability item
    To Professional tax recoveries a/c                200    Liability item
    To Income tax recoveries a/c                         130    Liability item
    To Salary payable a/c                                  17470    Liability item
 

2.

Salary Payable a/c    Dr. 17470
   
    To Bank                17470

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