Credit card transaction
Querist : Anonymous
We make payment for the co expenses from the personal credit card in the name of the proprietor. Also we make the deposit in the personal credit card from the co. bank account. How to make accounting entries for the same in Tally.
Expenses Dr
to ABC (personal Credit Card Holder)
(Expense booked)
ABC dr
to Cash
(Cash Deposit in bank)
In books of Card holder
Company A/c Dr
to Bank
(Expense Paid on Behalf of Co.)
Bank A/c dr
to Company
(Amount Recd for exp made on behalf of Co.)
Querist : Anonymous
Expenses Dr. xxx
To Capital Account Cr. xxx
This is not a correct entry.
Querist : Anonymous
expenses Dr. xxx
To Proprietor current account Cr. xxx
Click here to login now
Similar Resolved Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
