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Journal Entry

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(Querist)
16 August 2016 What is the Journal entry for Business expenses paid from Personal Cash ?
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CS Nadeem Ahmed Siddique

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CS Nadeem Ahmed Siddique (Expert)
16 August 2016 Expenses should be debited and cash account will be credited... you can rename the ledger heads as per your business convenience....
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Rahul Pawar

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Rahul Pawar (Querist)
16 August 2016 How could the cash is credited ? there is no cash outflow from business ?



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CS Nadeem Ahmed Siddique

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CS Nadeem Ahmed Siddique (Expert)
16 August 2016 If the payment is not affecting business cash then you will have to pa
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CS Nadeem Ahmed Siddique

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CS Nadeem Ahmed Siddique (Expert)
16 August 2016 if the payment is being made from personal cash then you will have to pass a journal entry where expenses is debited and the personal account will be credited Example. Expenses a/c dr to XYZ a/c
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Rahul Pawar

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Rahul Pawar (Querist)
16 August 2016 i don't understand
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CA ANILKUMAR B.COM ACA DISA

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CA ANILKUMAR B.COM ACA DISA (Expert)
16 August 2016 Credit capital or current account.

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