Paid towards typing charges for iec application form

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Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 Paid towards Typing charges for IEC Application form. can anybody pls tell me exact GL Account for this?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 November 2012 It can be debited to printing & stationery expenses.

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2012 printing & Stationery doesn't look appropriate one.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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09 August 2024 When accounting for typing charges related to an IEC (Import Export Code) application form, you should classify the expense based on its nature. Here’s how you can handle it:

### **General Ledger (GL) Account Classification:**

1. **Expense Type:**
- Typing charges are generally considered as administrative expenses or office expenses since they are related to the preparation of documentation for business purposes.

2. **Suggested GL Accounts:**
- **Administrative Expenses:** If you have a specific GL account for administrative or office-related expenses, you can classify the typing charges under that.
- **Office Supplies and Expenses:** If you have a GL account for office supplies, which can include various administrative costs, it can be used for typing charges.
- **Professional Fees:** In some cases, if the typing is considered as part of professional or consultancy services, it could be categorized under professional fees.

### **Example GL Account Names:**
- **Office Expenses**
- **Administrative Expenses**
- **Professional Fees**
- **Miscellaneous Expenses**

### **Accounting Entry:**
Here’s an example of how you might record this expense in your books:

**Debit: Office Expenses (or similar GL account)**
**Credit: Bank/Cash**

**Entry:**
```
Office Expenses (Typing Charges) - Debit
Bank/Cash (Payment) - Credit
```

### **Considerations:**
- Ensure that the GL account used aligns with your company's chart of accounts and reflects the nature of the expense accurately.
- If you are unsure, consult with your accountant or financial advisor to ensure proper classification and adherence to accounting policies.

### **Summary:**
For typing charges related to the IEC application form, classify the expense under an appropriate administrative or office expense GL account. The exact account will depend on how your company's chart of accounts is structured.

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