How do I record an advance to an employee?

Question

Deleted user · Answer

Loan/Advance to Staff Dr

Cash Cr

Leena sosamma Varkey · Answer

Staff advance account should debit and credit will goes to cash or bank

Syed Fahim Ahmed Gilani Gilani · Answer

Staff Advance Debit and Cash or Bank Credit

MOHAMMAD SARFARAZUL HASSAN · Answer

SALARY ADVANCE TO EMPLOYEE -- DR

CASH/BANK --CR

mohamed Hakim CMA CPA Candidate · Answer

Debit / Employee Advances

Credit / Cash or Bank

Fahad Saleem · Answer

Initial Entry:

Loan/Advance : DR

Bnak : CR

After payment the amount is being deducted from employees salary on a predetermined time frame.The subsequent entry is:

Employee Salary: DR

Advance/Loan: CR

abdulaziz khorshid · Answer

debit - cash advances

credit - cash or bank

suraj k.c · Answer

The Journal entry would be as follows:

Staff Advance Account Dr.

to Cash Account

Thanks

Kashif Sarfraz · Answer

Debit: advance to employee

Credit: bank/cash

Michael Cabuang · Answer

DR: Receivable / Adv to Emp

CR: Cash / CIB

GL Accounts will differ accdg to the company's Chart of Accounts

VINAYAKAMURTHY CHELLADURAI · Answer

Dr. Advance to staff A/c

Cr. Bank/Cash A/c