What is an Outstanding Salary?

by Shipra
(Faridabad)

Q: What is the definition of outstanding salary??

A: Outstanding salaries are salaries that are due and have not yet been paid.

For example, the staff of ABC Corporation have worked for the month of April. It is now the 3rd of May and they still have not been paid, so the salaries are "payable" or "owing" or "outstanding" (all the same thing).

"Salaries outstanding" or "salaries owing" or "salaries payable" is a liability and in particular an accrued expense.


Hope that helps!

Best,
Michael Celender


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