Accounting question

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Initially the company is paying the visa expenses of Employees and later deducting a percentage of visa expenses monthly from their salary. What will the journal entry for this transaction. In tally how can we create Visa expenses as an indirect expense since we are recovering this amount from their monthly salary?
 
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To record the initial payment of visa expenses by the company and subsequent deductions from employees' salaries, you can use the following journal entries:

1. Initial payment of visa expenses:
Debit: Visa Expenses (Indirect Expense Account)
Credit: Cash/Bank (Asset Account)

2. Monthly deduction from employees' salaries:
Debit: Salary Payable (Liability Account)
Credit: Visa Expenses (Indirect Expense Account)

In Tally, you can create Visa Expenses as an indirect expense account by following these steps:

1. Open Tally and go to Gateway of Tally.
2. From Gateway of Tally, navigate to Accounting Vouchers by pressing "V" on your keyboard.
3. In the Accounting Vouchers menu, select "Journal" or press "F7" on your keyboard.
4. Enter the date of the transaction.
5. In the Debit field, select or enter the appropriate ledger account for Visa Expenses.
6. Enter the amount of the initial payment in the Debit column.
7. In the Credit field, select or enter the Cash/Bank ledger account.
8. Enter the same amount in the Credit column.
9. Press Enter to save the entry.

To record the monthly deductions from employees' salaries, you can follow the same steps, but instead of selecting the Cash/Bank ledger account in the Credit field, select the Salary Payable ledger account. Enter the deduction amount in the Credit column.

By following these steps, you can create the necessary journal entries and maintain Visa Expenses as an indirect expense account in Tally.
 
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"Hello everyone,

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