Insurance Claimed Amount in which Account

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A company paid £14,000 cash for car repairs costing £70,000, with the remaining £56,000 covered by an insurance claim. The user is seeking advice on how to accurately record this transaction in their accounting books. The core question is whether to book the expense at the full £70,000 and then credit the claim, or to book the expense net of the claim.

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(Querist)
29 February 2020 Dear Sir,
Accidental car Repair by co Bill Amount 70000/-
Cash Paid by our company 14000/-
Insurance claimed approved by insurance company - 56000/-
now which account for 56000/-
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Gokul Sharma

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Gokul Sharma (Expert)
29 February 2020 in whose books ???????????????
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CA AnKiT BoHrA (AB)

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CA AnKiT BoHrA (AB) (Expert)
14 March 2020 Either book the expenses with 56000, or book the expenses with full amount and then credit back it with the claim
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