Payment through gift vouchers

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 September 2012 what will be the entry for payment done through gift vouchers?

17 September 2012 Which Type of payment is There.

is it Expenses?
is gift voucher already shown under current assets.

if yes, then credit gift vouchers.

if not, and its expenses is there then

no entry will be there.

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 September 2012 asset is being purchase and gift voucher are not shown under assets

and under which group should i show the gift vouchers

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 September 2012 and it there will be no entry then how should i will i show the payment agst fixed asset purchase

17 September 2012 When the gift vouchers are purchased-

Gift Vouchers A/c Dr.
To Cash
(Being purchase of gift vouchers)
It shall be shown under current assets.

When Expenses incurred-

Respective Expenses A/c Dr.
Gift Vouchers A/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2012 Thank you for the response my query is solved.


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