Mediclaim cheque

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2013 Dear Sir,

We have mediclaim of all workers of our unit and company paid the premium on behalf of worker and policy issued by the department on the insured name of our company along with secure person name i.e. (Worker Name)or family details but when any one person suffering from any injury then they got treatment from any private hospital and paid the amount in cash then after submitted the claim file in original to insurance company and insurance company approved the same and issue the claim amount in by cheque or DD but the insurance company issued the cheque in favour of company name so how we posting the accounting entry in our books of account because this is worker mediclaim claim amount so pls. guide us how to pass the journal entry?

Hemant Kumar

Hemant Kumar (Expert)
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08 February 2013 Pass following transaction entries

1) at the time of receipt of amount:-

Bank Ac. Dr.
to Sundry Debtors Ac.(Mediclaim Beneficiary Name)

2) at the time of pay amount to beneficiery.

Sundry Debtors Ac. (Mediclaim Beneficiary Name)
to Bank Ac.

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