Expenses by manager
This query is : Open
30 November 2016
Manager was given Rs. 20000/- in cash by our company.He incurred expenses Rs. 21500.Rs. 1500 will be reimbursed to the manager
the breakup for 21500/- is as follows.
Draw expenses = Rs. 18000/-
Fuel expenses =. Rs. 2500
Food =. Rs. 1000
He lost the bill for Rs. 1000 which was incurred for food.Rs. 1500 is to be reimbursed to him
How to make journal entries for these transactions.Kindly help
Message likes :
1 times
Sandeep Dharar
(Expert)
30 November 2016
U can just pass a payment entry. I'll suggest not to bother regarding the bill of 1000/- until u receive any query regarding that from Department during assessment.
Message likes :
1 times
30 November 2016
Thanx a lot sir.can u tell me what entries will be passed.
Message likes :
1 times
Sandeep Dharar
(Expert)
01 December 2016
At the time of advance payment:-
Director(name of director to which adv. given) Dr
To bank/cash
At the time of receipt of bills pass the expense journal:-
Expenses(different ledgers as per bills) Dr
To Director.
And the same payment entry to director at the time of balance payment.
Director(name of director to which adv. given) Dr
To bank/cash
At the time of receipt of bills pass the expense journal:-
Expenses(different ledgers as per bills) Dr
To Director.
And the same payment entry to director at the time of balance payment.
Message likes :
1 times
01 December 2016
M I Right Here.kindly tell me sir
At the time of withdrawal of cash for expenses
Cash A/C. 20000
Bank A/c. 20000
at the time cash is given to manager to meet expenses.
Manager A/c. 20000
to cash A/c. 20000
At the time when manager raises bills to account department
Expenses A/c. 21500
To Manager. A/c. 21500
Payment to Manager for meeting expenses upto RS. 1500 from his own pocket
Manager A/c 1500
To cash/bank. 1500
kindly confirm.
Message likes :
1 times
Sandeep Dharar
(Expert)
02 December 2016
yes, better if u mention details in the narration.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- GSTR-9C filing
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- Capital gains in IT returns
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
