What is accounting entry for " employee salary 20000 but his deductions are 22000 now the salary is -2000 " please help.
Hi,The entry for the $2k depends on why this employee rec'd the extra money. Then I may be able to give you the entry. For instance is it for travel, loan, or bonus. Also it would matter over what time period the $2k was disbursed.
The accounting entry could be due to tax and other deductions. According to the tax system, one is taxed according to the way they earn. There could be other deductions like medical and taxes.