Accounting for damage
This query is : Resolved
13 April 2012
My client made an car accident with third party and in settelement he is paid Rs 100000/- to third party by cheque for damage in settelement so plz tell me how it is accounted and under which head?
13 April 2012
Need to debit as Loss on accident damage under indirect expenses, incase any insurance claim is there need to adjust that
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