Expenses incurred by other co.
This query is : Resolved
Anil Chavan
(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
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
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.
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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