Credit card entry
This query is : Resolved
14 February 2014
credit card expenses amt. deducted from companies a/c . what should be entry in tally?
Nikhil Kaushik
(Expert)
14 February 2014
debit the relevant expense account. the payment due to credit card provider should be reflected as short term liability.
15 February 2014
sir i dont get it
and I have also query that is company has credit card. bank provide credit card to only personal ac na or also provide to company a/c
and I have also query that is company has credit card. bank provide credit card to only personal ac na or also provide to company a/c
Nikhil Kaushik
(Expert)
15 February 2014
irrespective of whether the credit card is in company's name or individual name, the entry will remain the same.
Expense Head Dr (nominal expense A/c)
To Credit Card Co A/c (short term liability)
Expense Head Dr (nominal expense A/c)
To Credit Card Co A/c (short term liability)
Nikhil Kaushik
(Expert)
15 February 2014
you are welcome priya..
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