Journal Entry For Expenses

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This discussion clarifies how to create journal entries for company expenses, ensuring correct GST treatment. It explains that for company-related expenses, GST ITC is debited, and the bank, cash, or vendor is credited. For personal bills paid from company funds, the partner, director, or proprietor's account is debited, and the bank or cash is credited, as these are not considered company expenses.

Dikshit Shah

Dikshit Shah (Querist)
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19 January 2021 Dear Sir,

Good Afternoon

I Have query about all type of expenses Which Made For Company How To Entry In Journal Voucher With GST

And Also Those Expenses Which Is Not Related Company But Bill Generate And Make Payment From Company So Please Kindly Share Both Of Type Expenses Related Journal Voucher Entry With GST

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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26 January 2021 Expenses, GST ITC will be debited and Bank/Cash/Vendor will be credited in case of company expenses. For personal bill payment we do not need to books these expenses. We need debit partner/director/proprietor account and credit Bank/Cash

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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26 January 2021 Expenses, GST ITC will be debited and Bank/Cash/Vendor will be credited in case of company expenses.

For personal bill payment we do not need to books these expenses. We need debit partner/director/proprietor account and credit Bank/Cash

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Dikshit Shah

Dikshit Shah (Querist)
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27 January 2021 Thank You mam For Your Valuable Reply

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