Salary accounting treatment

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ca final student
187 Points Joined July 2009

can any one let me know the accounting tratment for gross salary (in tally hw to post)

let me xplain u detailly i m maintaining an NGO's (Non govt organisations ) Accounts books in tally software.

my question is If suppose one of the employee of NGO gross salary is Rs30000  & tds- 2400 Advance deducted from salary - 500 pf - 3000 then his net salary comes to - Rs 24100 then what is the accounting treatment at the time of accrual & at the time of payment and how to post it in Tally.

& one more question :- u might b knowing that an NGO's get funds from different donars so i need to book this salary Expenditure to differnt donars how to book it n tally

Please let me know its urgent friends

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On 23 December 2009 at 14:21 Report
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student
162 Points Joined May 2008

Salary A/c Dr

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On 23 December 2009 at 14:49
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student
162 Points Joined May 2008

Salary A/c Debit 30000

To TDS Payable  A/c cr 2400

To Advance A/c Cr 500

To PF A/c Cr 3000

To Salary Payable Cr 24100

 

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On 23 December 2009 at 14:51
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CA. Student
314 Points Joined May 2009

I agree with ABCDEF...

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On 23 December 2009 at 15:36
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CA
1411 Points Joined February 2009

 I agree with ABCDEF

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On 23 December 2009 at 15:38
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ca final student
187 Points Joined July 2009

 thanx  ABCDEF

 

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On 23 December 2009 at 15:53
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ca final student
187 Points Joined July 2009

 uk then ans for my other question Plzzzzz

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On 23 December 2009 at 15:54
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a/c
108 Points Joined May 2009

i agree with abcdef

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On 23 December 2009 at 16:46
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a/c
108 Points Joined May 2009

 

at the time of payment of salary

Salary payable a/c Dr.24100

To cash/bank                             24100

 

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On 23 December 2009 at 16:48
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Article Assitant
358 Points Joined December 2009

 Salary A/c Dr.  30000

                  TDS Payable  A/c  Cr 2400

                   Advance A/c          Cr 500

                   PF A/c                     Cr 3000

                   Salary Payable     Cr 24100

 

i am not sure for 2nd question but i ll tell you after discussion.

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On 23 December 2009 at 16:52
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articles
30 Points Joined April 2009

Salary A/c Dr.                                  30000

EPF contribution (employer) A/c Dr. 3000 

                                            TDS Payable  A/c  Cr 2400

                                            Advance A/c          Cr 500

                                            PF A/c                     Cr 6000

                                            Salary Payable     Cr 24100

 

 

i am not sure for 2nd question but i ll tell you after discussion.


 

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On 23 December 2009 at 17:39
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CHARTERED ACCOUNTANT
103 Points Joined June 2009

can anybody tell me what is advance tax

 

there is always tds in question which is we can say advance tax

 

and crditing adv tax whats it mean mr. ABCD

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On 23 December 2009 at 19:17
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partner
443 Points Joined October 2008
Originally posted by : Nikhila
ABCDEF IS ABSOLUTELY RIGHT
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On 24 December 2009 at 12:34
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CA final Student
337 Points Joined December 2009

 at the time of accurual

SALARY A/C Dr.  Rs. 30000

     TO TDS PAYABLE A/c  Rs. 2400

     TO ADVANCE A/c          Rs.   500

     TO PF PAYABLE A/c      RS. 3000

      TO SALARY PAYABLE RS.  24100

AT THE TIME OF PAYAMENT

     SALARY PAYABLE A/C Dr.   24100

              TO CASH/BANK            24100

 

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On 24 December 2009 at 13:02
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At The Time Of Accurual

[1] Salary A/c  Dr. Rs.30000

                        To Employee A/c  Rs.30000

 

[2]Employee A/c Dr.  Rs.5000

                        To PF A/c                    Rs.1000

                        To Staff Advance A/c   Rs.3000

                        To TDS-on Salary A/cRs.1000

 

At The time of payment

 

[1]Employee A/c Dr. Rs.25000

                        To Bank/Cash A/c        Rs.25000

           

You will never face any problem after making entries as above. Preparation of reports will be more easy, like-Salary Certificate, TDS Certificate….

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On 24 December 2009 at 14:23


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