cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
NEW Connect to DBS IDEAL direct bank feeds Click here
cvsuren
Level 1
posted
‎October 10, 2019 11:06 PM
last updated ‎October 05, 2020 8:12 PM

How to make cash payment entries affecting other than receivables or suppliers eg how to make cash payment or cash receipt entry for salary advences

 
Reply
3 Comments 3
IntuitArun
QuickBooks Team
QuickBooks Team
‎October 10, 2019 11:59 PM

How to make cash payment entries affecting other than receivables or suppliers eg how to make cash payment or cash receipt entry for salary advences

Hi cvsuren, please create an account under 'Current Assets' as the advance salary is Prepaid Expense. Then pass the expense voucher and select the account 'Advance Salary'.

Reply
cvsuren
Level 1
‎October 11, 2019 12:07 AM

How to make cash payment entries affecting other than receivables or suppliers eg how to make cash payment or cash receipt entry for salary advences

How about cash received back towards Salary advance recovery??

Reply
asha_kanta_sharma
Level 6
‎July 03, 2020 10:32 AM

How to make cash payment entries affecting other than receivables or suppliers eg how to make cash payment or cash receipt entry for salary advences

If you are making Salary Advance, the journal entry will be as follows

 

Salary Advance Dr.

Cash or Bank Cr. 

 

In case you are making advance payments to vendors, the journal entry will be as follows

 

Vendor Dr.

Cash or Bank Cr. 

Reply