It can probably be simplified as follows:
Debit: Bank R5000
Debit: Payroll Burden(UIF) R50
Credit: Bank R4950( the salary paid to employee less UIF)
Credit: Bank R100 (cheque made out to UIF)
It can probably be simplified as follows:
Debit: Bank R5000
Debit: Payroll Burden(UIF) R50
Credit: Bank R4950( the salary paid to employee less UIF)
Credit: Bank R100 (cheque made out to UIF)
Anthony Sterne
www.acumenholdings.co.za
DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.
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