QUESTION:
Ano po ba ang entry ng payroll of regular employees if ang sweldo is through atm na?
RESPONSE:
The recommended journal entries to record payment of salaries/payroll paid through LDDAP-ADA (List of Due and Demandable Accounts Payable – Authority to Debit Account); and hence through the bank/payroll account of the payee-employee, as well as the remittance of personal and government share in GSIS premium, Philhealth, and Pag-IBIG, are as follows:
To set-up payable for the tax withheld and mandatory deduction/personal share of employee in GSIS premium, Philhealth, Pag-IBIG, and Union Dues:
To record payment of salaries
To record remittance/payment of mandatory deductions
To record government share in GSIS, Philhealth, and Pag-IBIG premium of employees
To record remittance of taxes withheld through Tax Remittance Advice (TRA)
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