View Full Version : What is the entry for salary paid in advance
vinodvijay25
Dec 7, 2009, 07:12 PM
What is the journal entry for salary paid in advance?.
hamzashakaa
Dec 8, 2009, 01:17 PM
You can journalize the following:
DR. prepaid salaries (Employee name)
CR. Bank
And when the salary is due you should record the following:
Dr. Salaries Expense
Cr. Prepaid salaries (Employee name)
You can also use the employee account instead of prepaid expense.
ashma.r
Dec 26, 2009, 12:17 AM
Salary advance paid to Mr.A
ooppsskhan
Mar 9, 2011, 03:46 AM
1.when paid:
Adv payroll 1000
Bank 1000
2.When recovered...
Payroll 1500
Adv payroll 1000
Bank 500