If online payment transaction behalf of the sister's company
This query is : Resolved
10 December 2019
Dear sir/madam please kindly guide me through your knowledge of accounts and my question is We paid the payment sister's company behalf of them to the party of rs.15000/- and 10000/- paid My company's purchase expenses to the party in one single payment by bank transaction process, so how can I claim this transaction if 15000 is considered as loan and advances head.
09 August 2020
Yes...it can be done and make sure to report such as Releated Party Transactions at the time of audit
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