journal entry advice

rmflsdl

Hi guys,

I need some advice on the journal entry.
The company is being set up and it' in the preparation stage.
It's supposed to be registered next month completely.
I've been working for this company last July under no employment contract as there is no formal employment contract yet.
I've been recording my working time and am supposed to be paid on this basis.
we agreed to accumulate my wages to pay my study fees as I am studying ACCA rather than paying it every week. I've been just paid a small amount of money as subsidy from time to time. It should be deducted from my accumulated wages.
I could say my wages are consisted of my study fees and subsidy.
However, I've been doing accounting job so I have to record this transaction.
How can I record this transaction? for example I got paid 100 euro today as subsidy.
Dr. Subsidy for employee's name 100
Cr. Director's loan 100

Dr. wages 100
Dr. Accumulated wages 1800
Cr. Wages brought forward 1900


when my employer pays my tuition fee ,1500euro, coming from my wages.
I can offset my tuition fees,say 1500euro, against my accumulated wages which are say,1800euro, after deducting several subsidies.
there is 300 euro left which is part of my wages. It will be brought forward to next week.

Dr. tuition fees for employee's name 1500
Cr. Director's loan 1500

Dr. wages 1500
Dr. Accumulated wages 300
Cr. Wages brought forward 1800

remind you of that there is no employment contract and I'm paid in cash.
can I record wages for debit entry or do I have to record something else?

GIVE ME SOME ADVICE ON THIS JOURNAY ENTRY

I would appreciate it.

KingEnda

You cannt be putting a wages figure in the accounts when it is paid in cash. Some might class that as a bit off-side

dbran

I agree. Thread closed