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How do I enter my salary information into the accounting module?

edited February 2014 in Accounting
Suppose you work for Honda Motors:

Gross salary is Rs. 10,500
Tax Deduction at Source is Rs. 300
Professional Tax is Rs. 300
So, the net salary paid to you is Rs. 9,900

1. In the accounts section you will first have to create the various ledgers:

Honda Motors under the Sundry Debtors group
Salary Income under the Income group
Tax Deduction at Source under the Expenses group
Professional Tax under the Expenses group



2.Click on Journal to create a journal voucher on the last day of the month and enter the details as below:

3. Now your balance sheet will look like the following:image

4. When you receive the Rs. 9,900 in your bank account then create a Receipt voucher from your employer into your Kotak Bank account: 

5. Now your balance sheet will finally look like the following:

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