expenses reimbursement entry

This query is : Resolved

venkat (Querist)
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25 June 2016 we are a Pepsi distubutor. we have purchase 100 no. of Pepsi bottle from Pepsi company as 1000/ (100*10). BUT WE HAVE TO Receivable salary exp 200/ from Pepsi company, but pros i company invoice is 1000-200(Discount)=800.we have to account salary expenses.what is entry

Ganeshbabu K

Ganeshbabu K (Expert)
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25 June 2016 1)Get amount from pepsi

2)Take sal. re-imbursement
Entry

Dr.SAL Recoverable from PEPSI(Other current asset)
Cr.Bank/cash (Salary paid to guy) or Cr.Salaries (where that salary already debited as expense in books)

CA Ankit sachdeva

CA Ankit sachdeva (Expert)
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26 June 2016 you can pass entry :

Purchase a/c Dr. 1000
To Salary payable recived from pepsi 200 (Credit in Trading Account )
To pepsi Company 800

then Salary Payable 200 (debit in P&L)
To Cash 200