misc expnses

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Uday Tathe (Querist)

15 July 2011 hi,
i want to knw which account shall we use to w/off misc expenses & whn we use p&l a/c to write off misc exp?

U S Sharma

U S Sharma (Expert)

16 July 2011 other expenses which are diff than major business heads and does not carry any big amount are to be cleared from misc expenses ledger.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

16 July 2011 In case of a company Miscellaneous expenses written off relates to Preliminary Expenses which were incurred at the time of formation of the company and are allowable expenditure for 5 years.

In general Miscellaneous expenses head is created for recording those expenses which are unable to find any proper head.

Ramya c c

Ramya c c (Expert)

21 July 2011 Mr.Uday Tathe , You can put it separately as 'preliminary expenses written off' in P&L account. And i wan to make it clear to all(Note to CA Mr.SS.Agarwal sir) that mis.expenses(revenue nature) is different form mis.Expenditure(Capital nature. This should not be used interchangably.

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