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Prepayment to Employee [message #217586] Fri, 02 February 2007 22:17 Go to next message
nivasgalla
Messages: 26
Registered: September 2006
Location: Hyderabad
Junior Member
Dear friends,

I got a question in interview.

Suppose we paid advance to employee 10000/-, he/she submit the bills for 9000/- only. The remaing amount 1000/- given back. How the amount is setoff to prepayment, wht the entries generating in these transactions?

According to my opinion is .... We create a prepayment invoice to employee. When he/she sumbit the bills we raise the invoice against prepayment and setoff the prepayment account. But the problem is here 1000/-. This amount balance in prepayment account. How this amount setoff?

Please clear my doubt .

Thanks

srinivas

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Re: Prepayment to Employee [message #217611 is a reply to message #217586] Sat, 03 February 2007 01:41 Go to previous messageGo to next message
sujatha_mu
Messages: 55
Registered: October 2006
Location: pune
Member
Hi,


Pls find the attached document for your question.

Regards
Sujatha

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Re: Prepayment to Employee [message #218138 is a reply to message #217611] Tue, 06 February 2007 23:45 Go to previous message
nivasgalla
Messages: 26
Registered: September 2006
Location: Hyderabad
Junior Member
Hi,

Thanks Sujatha

Srinivas

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