Jounal entry for tour
This query is : Resolved
05 December 2016
Manager sent to company's meetings. there he stays for 10 days.he incurred expenses like breakfast, lunch,dinner,petrol & diesel,stay in hotel and many other expenses.we received all bills from him.someone suggest me to pass all the entries in tour and travelling. is he right or I have to debit respective accounts
like in case he pays for petrol
Petrol & diesel Dr
cash Cr
Kindly clarify
05 December 2016
The suggestion is perfectly in order
06 December 2016
Nomenclature of ledger does not matter, disclosure is material , if your annual expense is more than 1% of revenue or Rs.1 lacs which ever is higher, you need to disclose it separately as per schedule 3 of companies act, 2013.
you need to check your expenses on the same line as mentioned above and need to make ledges accordingly.
you need to check your expenses on the same line as mentioned above and need to make ledges accordingly.
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