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Expenses incurred by other co.

This query is : Resolved 
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(Querist)
10 March 2010 Dear experts

Sir, I am working in private Limited co. as an accountant. One of the our director is also a proprietor of another firm. He has spent Rs.5,00,000/- for our company & book the expenses in his own firm. Now in this situataion he want the money back which he spent. Is there any other option to pay him. e.g. to take invoice from his firm regarding the expenses incurred in behalf of us.

Regards
Anil
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CA Pramod Jain

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CA Pramod Jain (Expert)
10 March 2010 pass entry like this in ur books and pay

1. relevant exp head dr
to proprietorship firm

2. propriertor ship firm dr
to bank a/c

And take proper supportings in records.
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