Easy Office
LCI Learning

Clarification on accounting treatment

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
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..
Profile Image

CA Simarpreet Singh Gulati

Profile Image

CA Simarpreet Singh Gulati (Expert)
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.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
20 September 2013 thank u CA simarpreet ji




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links