Clarification on accounting treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2013
In a trust,advance is being paid to employees for their expenses like bus pass,fuel etc say Rs.2000..they are being accounted under the head STAFF ADVANCES..but the employee incurred an expense of Rs.3000..now can he be accounted under the head CREDITORS as he has incurred expenses more than the advance given which are to be reimbursed..????
or is there any other treatment..please help..
or is there any other treatment..please help..
20 September 2013
The excess expense incurred by the employees (Rs.1000 in this case) shall be shown as a liability under other current liabilities.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2013
thank u CA simarpreet ji
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