Accounts

This query is : Resolved

dinesh (Querist)
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30 August 2011 I spend money on when i go for outstation audits which later is reimbursed by my boss.

what entry should i pass in my books when i spend the money.

Kumar Babu.G

Kumar Babu.G (Expert)
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30 August 2011 First advance has to be booked when u have taken advance.After u submit the bills,expense entry has to be passed adjusting the advance amount.......

dinesh

dinesh (Querist)
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30 August 2011 but sir dont get money on advance.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 August 2011 if you dont get any advance then

pass after return back from travel

Dr: Respective expenses a/c
Cr: your account

after got the reimbursement

Dr:your a/c
Cr: cash a/c

entries in the point of view of firm

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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05 October 2011 At the time of expenses

Boss name/ Ca firm A/c DR
To Cash / bank
(amount spent for audit expenses on behalf os boss)

Cash . Bank A/c DR
To Boss Name / Firm A/c

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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05 October 2011 Always remember Dinesh when you are spenting on reimbursable basis or on other's behalf never book that money in any of the expense a/c

book the expenses in the name of personal A/c

dinesh

dinesh (Querist)
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10 October 2011 Thank u CA Pushpendra Gaur Sir for ur such an excellent desciption

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