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-   -   Salary payable? (https://www.askmehelpdesk.com/showthread.php?t=85001)

  • Apr 21, 2007, 11:42 PM
    jsoliz
    Salary payable?
    When crediting salary payable which account should be debited?
  • Apr 22, 2007, 08:06 AM
    ThePhantom
    'Salary expense' should be debited.

    As per accrual basis of accounting, expenses should be recognized when incured.

    [Dr.] Salary expense XX
    [Cr.] Salary payable XX

    This adjusting entry is passed at period end.

    When actual payment is made :

    [Dr.] Salary payable XX
    [Cr.] Cash XX

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