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Jounal entry for tour

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This query is : Resolved

chandan (Querist)
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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

Shyam Lal Naik

Shyam Lal Naik (Expert)
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05 December 2016 The suggestion is perfectly in order

sandip rai

sandip rai (Expert)
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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.

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