General
Employee Loan Repayment via Payroll
Recording the monthly deduction from an employee's salary to pay back a company loan.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Salaries Payable | Liability (-) | 200.00 | - |
| Employee Loans Receivable | Asset (-) | - | 200.00 |
💡 Accountant's Note
This entry reduces the liability the company has to the employee (their salary) and simultaneously reduces the asset (the loan the employee owes the company).
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