Menu
What type of account is salary account?
Salary is a Nominal Account & appers in the P&L A/c
while salary payable is a personal account & appears under current Liabilities
salary advance also is a personal account & appears under Current asssets : Loans & Advances
Mr.Santhosh is right. Salary is nominal account which is charged as expenditure.
its an equallient to Savings account.......;-)
| Originally posted by :santosh | ||
| " |
This is ok. I agreed. But what is the meaning of Salary Advance.
Salary is a Nominal Account & appers in the P&L A/c |
" |
- By definition it is a ype of Saving account which is opened by the employer but
- It can also be a nominal account if it given by the employee to the employer for depositing the salary.
Recent Threads
- Advance Tax not reflecting in Form26AS
- Capita gain tax
- Clubbing of income on ULIP
- ITR2 Processing Delay
- TDS demand payment notice
- Invoice NOT in 2B but showing in 2A, and supplier
- Is ITC available on VRF AC
- Capital gains on sale of furnished flat
- Heard & Seen Around – Your Daily Economi
- Gst interest and penalty doubts regarding missing
Related Threads
CAclubindia
