An advance payment to your employee is something you can make, however, I would keep them rather rare than a regular thing. You wouldn\u2019t want to pay too much in advance for something you at the end of the day may not receive.\u00a0<\/p>\n
Under an\u00a0advance payment<\/strong>\u00a0what is usually meant is an amount you\u2019re paying off from the next wage, but you\u2019re paying it before the work for it has been carried out. To give an example, say you\u2019ve asked for an advance in mid-March for the salary you\u2019d pay in the beginning of April for the work done for the whole period of March.<\/p>\n How would you recognize such an advance payment? Say that the advance was for 500:<\/p>\n Effectively you\u2019re recognizing an asset, a receivable against your employee which you\u2019ll be setting off the payable with once you\u2019re recognizing your payable for the salary for the period. As you\u2019re subsequently accounting for the wage for the month for this employee, your payable is actually less this 500. What you\u2019re doing then is a following entry:<\/p>\n With this you\u2019ve decreased what you ought to pay to your employee by what you already paid as an advance payment earlier.<\/p>\n","protected":false},"excerpt":{"rendered":" An advance payment to your employee is something you can make, however, I would keep them rather rare than a regular thing. You wouldn\u2019t want to pay too much in advance for something you at the end of the day may not receive.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-5071","post","type-post","status-publish","format-standard","hentry","category-1-9-payables-to-employees"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/5071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=5071"}],"version-history":[{"count":1,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/5071\/revisions"}],"predecessor-version":[{"id":5072,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/5071\/revisions\/5072"}],"wp:attachment":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=5071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=5071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=5071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n\n
\n #<\/strong><\/td>\n Debit-Credit<\/strong><\/td>\n Account name<\/strong><\/td>\n Amount<\/strong><\/td>\n<\/tr>\n \n 1<\/em><\/td>\n Debit<\/em><\/td>\n Other receivables against employees<\/em><\/td>\n 500<\/em><\/td>\n<\/tr>\n \n \u00a0<\/em><\/td>\n Credit<\/em><\/td>\n Bank account<\/em><\/td>\n 500<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n\n
\n #<\/strong><\/td>\n Debit-Credit<\/strong><\/td>\n Account name<\/strong><\/td>\n Amount<\/strong><\/td>\n<\/tr>\n \n 1<\/em><\/td>\n Debit<\/em><\/td>\n Payable to employees<\/em><\/td>\n 500<\/em><\/td>\n<\/tr>\n \n \u00a0<\/em><\/td>\n Credit<\/em><\/td>\n Other receivables against employees<\/em><\/td>\n 500<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n