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Question, hindi na po ba required na ideposit kay btr yung constructive receipt ng refund thru salary deduction? 🤔
Balikan mo original entry. Then make an appropriate adjusting entry 🙂
pra po iestablish yung billing ng overpayment sa employee
(Dr)Due fr O/E (officers&employees)
(Cr) Salaries
upon receipt of payment for the refund :
(Dr)Salaries
(Cr) Due from O/E
Other Mandatory Contrib/Deductions (due to gsis,pgibig,bir)
Cash – MDS (less mandatory deductions, due from O/E)
1.To recognize the receivables
Dr: Due from O&E
Cr: Salaries and Wages
2. Next month’s payroll and refund thru salary deduction
Dr: Salaries and wages
Cr: Due to Bir, Philhealth, GSIS and Pagibig
Cr: Cash MDS Regular
Cr: Cash Constructive Disbursement
3. Constructive Receipt of refund
Dr: Cash Constructive receipt
Cr: Due from O&E
If nag reclass ka to dr due from employees at cr salaries. If wala, gawin mong net of overpayment yung basic salary niya for march. And inform the employee at i explain bakit nagkaganyan
Dr due from officers and employees cr cash (overpayment) Dr salaries and wages cr due from officers and employees
none…