What is the entry when the company lends money to an employee?

Question

Abraham Varela · Answer

Right. Loan to Employees is a financial asset and should be clasified as an other receviables account.

Irfan Aziz · Answer

The Entry would be

Loan to Employees xxxxx

Cash xxxx

Rizwan Khalid · Answer

Employees Loan Account (Dr.)

Cash / Bank Account (Cr.)

Joseph Bukenya · Answer

Dr. Salary advance (loan)

Cr. cash (Bank)

Saidul Alam · Answer

Dr. Employee loan a/c

Cr. Bank

مستخدم محذوف‎ · Answer

When a company lends money to one of its employees, the company will debit the asset account Loans to Employees and will credit the asset account Cash.

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What is the entry when the company lends money to an employee?

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