30 June 2010
YOU NEED NOT TO OPEN SEPRATE ACCOUNT FOR FUEL. WHETHER YOU HAVE FACTORY AND OFFICE PREMISES SEPARTELY. THEN YOU CAN DEBIT IT POWER & FUEL EXP A/C (INDIRECT EXPESES) or if you have open seprate a/c for generator, then Generator Running & Maintainance a/c (indirect Exp).
But it is better to shown in Direct Expense,there is no need to bifurcate expenses used at office level or factory level.
CAclubindia
