expenses reimbursement entry
This query is : Resolved
25 June 2016
we are a Pepsi distubutor. we have purchase 100 no. of Pepsi bottle from Pepsi company as 1000/ (100*10). BUT WE HAVE TO Receivable salary exp 200/ from Pepsi company, but pros
i company invoice is 1000-200(Discount)=800.we have to account salary expenses.what is entry
Ganeshbabu K
(Expert)
25 June 2016
1)Get amount from pepsi
2)Take sal. re-imbursement
Entry
Dr.SAL Recoverable from PEPSI(Other current asset)
Cr.Bank/cash (Salary paid to guy) or Cr.Salaries (where that salary already debited as expense in books)
2)Take sal. re-imbursement
Entry
Dr.SAL Recoverable from PEPSI(Other current asset)
Cr.Bank/cash (Salary paid to guy) or Cr.Salaries (where that salary already debited as expense in books)
CA Ankit sachdeva
(Expert)
26 June 2016
you can pass entry :
Purchase a/c Dr. 1000
To Salary payable recived from pepsi 200 (Credit in Trading Account )
To pepsi Company 800
then Salary Payable 200 (debit in P&L)
To Cash 200
Purchase a/c Dr. 1000
To Salary payable recived from pepsi 200 (Credit in Trading Account )
To pepsi Company 800
then Salary Payable 200 (debit in P&L)
To Cash 200
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