Business expenses paid by paytm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2017 Dear Experts,
A proprietor has paid some business expenses through his saving A/C and paytm. pls tell me the accounting treatment for the same?

Thanks
ASAP

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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15 May 2017 Either create a account as "Paytm" under cash and bank or deposits and pay through there

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2017 Sir business exp. was also paid through his saving A/C

pls tell me how to record these entry...

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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15 May 2017 Is that a proprietary concern or somewhat company or else

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2017 Sir it is proprietary concern

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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15 May 2017 then it wont matter much.. even you can route the expenses through cash if it is within the limits

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2017 Sir.. how can we reduce cash if we do so... then it will effect the cash book

given the fact expenses was paid through saving A/c not by cash.

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