Advance for Expenses
This query is : Resolved
02 June 2009
Dear Sir/Madam,
In the starting of month if Director of Company takes Advance for expenses then I pass entry in tally as
1) Advance for expenses.....Dr
(Under Current Assets)
To Cash
2) Then when they give me vourchers against the advance i pass entry as
Pass Entry in Tally in Journal Expenses Voucher
Expenses A/c .........Dr
To Advance for Expenses
To Cash (if expenses more then Advance given)
Is it right ?
In the starting of month if Director of Company takes Advance for expenses then I pass entry in tally as
1) Advance for expenses.....Dr
(Under Current Assets)
To Cash
2) Then when they give me vourchers against the advance i pass entry as
Pass Entry in Tally in Journal Expenses Voucher
Expenses A/c .........Dr
To Advance for Expenses
To Cash (if expenses more then Advance given)
Is it right ?
02 June 2009
if it is a pvt ltd company here u also need to check the effect of sec 2(22)(e) of IT act.
02 June 2009
Hi ,
Yes it is a Pvt limited company Please explain.....is what i am doing is wrong ??
Yes it is a Pvt limited company Please explain.....is what i am doing is wrong ??
02 June 2009
Your reverse entry is correct
02 June 2009
Yes Your entry is correct .
But generly when employe take cash for exp. its Debited in Imprest a/c Not in advance .
But generly when employe take cash for exp. its Debited in Imprest a/c Not in advance .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- TDS ON CASH WITHDRAWALS...
- Query regarding TDS on EPFO Higher Pension Arrears*
- Bank accounts of Non resident
- ITR Filing Requirement for Partnership Firm Registered but Business Not Commenced
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
