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
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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.
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30 November 2016
Thanx a lot sir.can u tell me what entries will be passed.
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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 :
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02 December 2016
yes, better if u mention details in the narration.
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