Salary in any organization is paid within the time frame agreed by the administration with the employees, and in the manner prescribed in the employment contract. Today, legal norms require that wages be calculated and paid 2 times a month, but not all employees of the company manage to get it on the agreed days. The accountant is forced to deposit the money not received by the employees.
The salary is issued within 5 days, starting from the set date of its payment. The day the money is issued at the bank is included in the calculation. Each employee must receive the funds owed to him, however, there are a number of situations when the cashier cannot transfer money to employees due to their absence. The reasons can be very different: illness, business trip, absence from work for an unknown reason. But all the unreceived salary, at the end of its payment term, needs to be capitalized somehow. There is a special accounting entry for this called payroll escrow.
How do I deposit my salary?
After the expiration of the period set for the payment of funds, the cashier checks the payroll line by line, recalculates the amounts received by the employees and displays the amount of the balance. Opposite the names of employees who did not receive the money and did not sign in the statement, the entry “deposited” is made or a corresponding stamp is put down.
Employees whose salaries have been deposited are recorded in the register of deposited amounts. The latter includes the following required details:
- Company name;
- date of compilation of the register;
- the period for which the salary was deposited;
- number and date of the payroll, which contains information about the unpaid salary;
- last name, first name and patronymic of the employee who did not receive the money, and his personnel number;
- the amount of the deposited salary;
- the total amount of the register;
- surname, name and patronymic of the cashier, and his signature.
After drawing up the register and its certification by the chief accountant, the deposited salary is handed over to the bank, and one cash outflow order is drawn up for this amount. Data on the register of deposited amounts must be entered in the depositors ledger, which contains all information about the deposited salary and is maintained throughout the year.
Accounting for the salary deposit operation is drawn up by posting:
Dt 70 Kt 76-4 - the salary not received by the employees was deposited;
Дт 51 Кт 50-1 - the deposited salary has been entered into the current account.
How do I get my deposited salary?
When an employee, whose salary has been deposited, applies to the accounting department for money, it is necessary first to receive the amount of the salary deposited to the depositor from the bank. After that, you need to draw up an expense cash order in the name of the employee in order to pay the amount due to him. The date and number of the order should be reflected in the depositors' ledger.
Accounting for the operation of issuing the deposited salary is drawn up by posting:
Дт 50-1 Кт 51 - money was received from the bank to issue the deposited wages;
Дт 76-4 Кт 50-1 - the employee received the deposited wages.
Today, wage deposit operations are rarely carried out, since most companies have entered into a pay project agreement with banks. This allows you to transfer money due to employees directly to a plastic card.
