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Accounting Entry for Claims

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 April 2010 Receipt of funds against expenses incurred.
For e.g. Travelling expense claimed from Client.
Entry at the time of Incurring the expense is lodged in the books under the relevant head.
At the time of receipt of the equivalent funds from the client (against claim invoice), does the entry need to be into a revenue account or netted off against the same expense ledger account.
Thanks
(Not a true accountant, hence the terms might sound incorrect)
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kartik_somu

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kartik_somu (Expert)
10 April 2010 net off against the same ledger account
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
10 April 2010 net off against the same ledger account
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 April 2010 yes.net of against the same ledger
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 April 2010 Thanks Guys.
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