I am doing internal audit but iam confused while going through salary ledger because there is esi pf and all . Please help me how to check it and the proper journal entries for these items
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Salary journal entries
Replies (3)
HELLO.
ESIC, PF, TDS, PROF TAX etc is deducted from salaries frm the employees. So first of all exps entry to be made.
Salary exps dr...
to Esic...
to PF.....
to TDS...
to PT...
TO Salary Payable....
then
Salary Payable Dr..
to BANK a.c..
then other stat liabi.
TDS , Pf, pt dr...
to Bank acc..
Hope u get it.
Thnks
ESIC, PF, TDS, PROF TAX etc is deducted from salaries frm the employees. So first of all exps entry to be made.
Salary exps dr...
to Esic...
to PF.....
to TDS...
to PT...
TO Salary Payable....
then
Salary Payable Dr..
to BANK a.c..
then other stat liabi.
TDS , Pf, pt dr...
to Bank acc..
Hope u get it.
Thnks
Thank you sir
Welcome ma'am.
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