Journal Entry
This query is : Open
Rahul Pawar
(Querist)
16 August 2016
What is the Journal entry for Business expenses paid from Personal Cash ?
16 August 2016
Expenses should be debited and cash account will be credited... you can rename the ledger heads as per your business convenience....
Rahul Pawar
(Querist)
16 August 2016
How could the cash is credited ? there is no cash outflow from business ?
16 August 2016
If the payment is not affecting business cash then you will have to pa
16 August 2016
if the payment is being made from personal cash then you will have to pass a journal entry where expenses is debited and the personal account will be credited Example. Expenses a/c dr to XYZ a/c
Rahul Pawar
(Querist)
16 August 2016
i don't understand
16 August 2016
Credit capital or current account.
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