Journal entry for the expense reimbursement

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(Querist)


17 March 2012

Respected sir/Madam,

One of my employee paid leagal expense behalf of the company..& I have to reimburse it to him..what and all journal entries i should pass.can any one tell me...


Dintakurthi Tirumala (Expert)


17 March 2012

At the time of reimbursement:-
Legal Expenses a/c Dr
To Cash/Bank a/c
(Being Legal expenses reimbursed to the Mr.X employee of the company which are met by him on behalf of the company)
(Or)

Second Choice:

At the time of expenses met by him:-
1) Legal Expenses a/c Dr
To Mr.X a/c
(Being Legal Expenses related to the company paid by the Mr.X which has to be reimburse)
At the time of Reimbursement of amount:-
2) Mr.X a/c
To Cash/Bank a/c
(Being reimbursement expenses payable to Mr.X now paid)
OM SAI SRI SAI JAI JAI SAI



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