Booking expenses
This query is : Resolved
rgurucharan
(Querist)
27 December 2013
Dear sir,
I have to book the expenses pertaining to site.
Intially i have given site advance of Rs. 100. When i give an advance. The journal entry is
Site Advance A/c Dr. 100
To Bank A/c 100
subsequently i have to book the expenses of the site in the books.
Expenses A/c Dr. 25
To Site Advance A/c 25
Is it correct?
thanks
with regards,
R. Gurucharan.
I have to book the expenses pertaining to site.
Intially i have given site advance of Rs. 100. When i give an advance. The journal entry is
Site Advance A/c Dr. 100
To Bank A/c 100
subsequently i have to book the expenses of the site in the books.
Expenses A/c Dr. 25
To Site Advance A/c 25
Is it correct?
thanks
with regards,
R. Gurucharan.
Nikhil Kaushik
(Expert)
29 December 2013
yes it is a correct way of booking expense.
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