Question:

Calling all Bookkeeping experts

by  |  earlier

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In the bank account do i enter when adjusting an entry say if i underpaid someone the difference labelled bank in the credit column?

Then add the difference in the debit column to the amount i underpaid say if it were wages?

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2 ANSWERS


  1. Let's say wages should be $590 but you paid $500:

    Dr  Wages expense $500

    Cr  Cash $500

    then you realised your mistake, and paid out another $90:

    Dr  Wages expense $90

    Cr  Cash $90


  2. My wife said 'Yes, 'cos they have to balance'

    (She's an accountant - I didn't understand the question!)

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