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 Topics :
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
Related Topics :
CAclubindia
