Claim received


This query is : Resolved 

Quick Summary
This discussion clarifies how to handle insurance claim entries in Tally. If the claim is for personal expenses or reimbursement, no accounting entry is needed. However, for business-related insurance claims, such as loss of goods, the entry should be Bank Dr to Purchase A/c.

(Querist)
20 June 2020 dear sir

we have received insurance Claim Please suggest how to pass the entry in Tally

Is this included in my income ( Profit & Loss )

21 June 2020 If it is personal expense or reimbursement then no need to do entry in your book of account.

c.bakshi (Expert)
21 June 2020 IF THIS IS AN INSURANCE CLAIM RELATED TO BUSINESS THEN
BANK DR
TO PURCHASE A/C (ON ACC. OF LOSS OF GOODS)


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