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Proprietorship expenses

Shiraz Kotwall (Founder & Owner) (23 Points)

25 October 2018

I am a sole proprietor. I have the following expenses

1. Fuel Bills

2. Driver Salary

3. Uber Bills (Used to visit clients as well as come to office sometimes)

4. Food Bills (I order lunch daily, something I take a potential client out for lunch/dinner to present my service)

What ledger accounts in Tally should be created to correctly account for the above expenses?

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11 Replies

satish (teaching) (2046 Points)
Replied 25 October 2018

1. Fuel expenditure A/c
2. Salaries A/c
3. travelling and conveyance a/c
4. food and refreshments a/c

RAJA P M ("Do the Right Thing...!!!") (127179 Points)
Replied 25 October 2018

Yes... I agreed to Mr Sathish reply...

Shiraz Kotwall (Founder & Owner) (23 Points)
Replied 28 October 2018

Travelling expense & Conveyance are not the same thing!

Travelling expense is from office to customer or home to customer or customer to home or customer to office.

Conveyance is from home to office and office to home only

Is it correct?

Sonia Shirodkar (Manager Accounts) (15 Points)
Replied 28 October 2018

Travelling expenses if it is outside the state Conveyance local

Sonia Shirodkar (Manager Accounts) (15 Points)
Replied 28 October 2018

Travelling expenses if it is outside the state Conveyance local

RAJA P M ("Do the Right Thing...!!!") (127179 Points)
Replied 28 October 2018

Not only Outside State... We can consider Outside City or Outside its main location of the Premises...

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3303 Points)
Replied 29 October 2018

For the purpose of payment of travelling allowance to its employees by Government, travelling allowance is for travel to outstations by modes such as train, flight, bus etc. Conveyance is for local travel within a station.

Priya Ganeshh (4 Points)
Replied 11 March 2024

I am sole proprietorship of civil work contract i want pay the labour charges to labour is i have to deduct tds if labour salary is less then 20K

and i also paid labour for there meal and travelling exp and also house rent so how can i shoe this expenses in tally prime

please help me

Priya Ganeshh (4 Points)
Replied 11 March 2024

Per person labour charges is less then 20k montlhy

RAJA P M ("Do the Right Thing...!!!") (127179 Points)
Replied 11 March 2024

Originally posted by : Priya Ganeshh
	Per person labour charges is less then 20k montlhy

You mean labour charges like get services from any other supplier/creditors

Labour means Employees....???

Yasaswi Gomes new (Finance ) (4484 Points)
Replied 12 March 2024

For all workers if it is 20k it's below the threshold for any TDS applicability. Anyways, tds not applicable here cause it's not perks. 192b also not applicable as per slab rates